Pre-Approvals for Christmas

House for Christmas

What could be a better Christmas gift than a new home? While it’s unlikely anyone will buy you one – you could always treat yourself. Get pre-approved for a mortgage and take Christmas shopping to a new level!

Pre-Approval Process

First of all, let’s make an important clarification. Pre-qualifications are not the same as pre-approvals.

Pre-qualifications will give you an idea of what kind of loan you may qualifiy for and can typically be completed in minutes. This informal estimate may be just fine for those in the very early stages of home buying process.

Pre-approvals are more involved and are a better indication of your ability to fully qualify for a mortgage loan. With a pre-approval, we will gather all the information we need to begin the loan process. This typically involves a credit check as well as income and asset verification. Typical documents required for a pre-approval include:

  • Bank statements
  • W-2s
  • Drivers License/Identification
  • Paystubs
  • Proof of IRAs or retirement accounts and their balances

Good Faith Estimate

After successfully completing the pre-approval process, you will receive a Good Faith Estimate (GFE). A GFE is a brief document that details the likely terms of the loan, including interest rate, loan type, and closing costs. All that said, a pre-approval is not a binding agreement between you and your lender – final loan approvals require the attention of our experienced underwriting team.

Pre-Approval Benefits

Pre-approvals have several advantages over pre-qualifications:

  • Your Realtor knows you’re serious when you present a pre-approval letter – and will work even harder on your behalf!
  • Sellers prefer to negotiate with prospective buyers with pre-approvals over simple pre-qualification letters – often times sellers won’t even consider your offer without a pre-approval letter from a licensed mortgage loan originator!
  • Your mortgage pre-approval letter takes into consideration down payment percentages, interest rates, property taxes and mortgage insurance – which makes it clearer to you (the buyer) just how much you can truly afford to borrow.
  • A solid pre-approval will help you get your loan processed faster. Getting a pre-approval could take your offer from a 60 day closing to as little as 30 days – with Inlanta’s express underwriting you may be able to close even faster!

Shop Smart

You’re not likely to shop for a car without knowing what you can afford so why would you house shop without knowing what type of loan you may qualify for? A pre-approval helps you make educated decisions about the most important investment of your life.

Contact an Inlanta Mortgage loan officer near you and begin the pre-approval process today to enjoy a new home in 2013! Happy Holidays & Happy House Shopping!

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016. Inlanta Mortgage is proud to be a recent recipient of a 2012 Top Workplace Award.

Buying a Home Your Pet Will Love

Giant Dog House

 

While most avid dog lovers would love to provide this awesome abode for their furry friends – this posh puppy palace isn’t in most of our budgets. Yet, we still love our dogs and want the best for them. Here are some quick house shopping tips for dog lovers.

Tips for Buying a Home Your Pet Will Love:

 

  • Check with the Home Owner’s Association (HOA) – Not every HOA allows pets and those that do often have restrictions on types, sizes, heights, noise factors, and whether your precious pup can freely roam the premises. The HOA bylaws and applicable pet restrictions can also clue you into your prospective neighbors overall friendliness towards pets.

 

  • Consider Home Features – Maybe you favor hardwood floors over carpeting or need a conveniently located outdoor faucet for Fido’s frequent baths. While most of these features could be added later – it is a good idea to consider which home features you want immediately and which you would be willing to add yourself later. Other home features to consider include stairs (often difficult for aging pets) and space for your pooch to burn off some energy when it’s not possible for them to get outdoors.

 

  • Locate Pet Services in the Area – Depending on you and your pet’s specific needs you may want to ensure that a veterinarian, pet food store, doggie day care center, groomer, or pet sitter is conveniently located.

 

  • Fenced in Yards – If the home doesn’t already sport this essential feature, find out the cost to add a fence and what sort of fencing is allowed by the HOA or other local governing bodies. If there is a fence, ensure the it is in good repair, not too short (for good jumpers), and that all latches and gates function correctly.

 

  • Check the Street Traffic – If Spot sprinted out the door, you might worry too much if your new home was located on or near a busy thoroughfare.

 

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs or learn more about the mortgage loan process.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016. We are proud to be a recipient of a 2012 Top Workplace Award.

Original Photo Source Unknown

5 Things You Can Learn from Driving by a House

Can You Call it Home?

 Driving by a house can give you a better feel for its ability to become your home.

While the internet a is wonderful resource for today’s home shopper – there are still some things an old fashioned drive by can do that the internet can not!

It’s very easy to get wrapped up in a home’s features listed online –  here are a few important things you can learn just by driving past it:

1. How long is the commute to work?

You might consider driving to the house directly after or before work. Maybe you didn’t really think the drive was that far when you checked it out that leisurely Saturday afternoon –  but what’s it like when everyone else in the area is going to work? How long will it take you to find a break in the traffic so you can turn out of your driveway?  There’s really only one way to find out.

2. Who else uses your road?

What other vehicles or activity do you notice on the street in front of the house you want to buy? If you have bike riding children, it might be nice to see other children are safely using the road. If you have a dog that barks every time a noisy car goes by – it might be good to know if your neighbors maintain their mufflers…

3. What’s going on late at night on the weekends?

You may want to consider a few evening drives to the home to see what your neighbors are up to. We’re not encouraging spying – but if you drove by a few different nights and your neighbors were throwing a huge party each time …you might want to take that into consideration.

4. Is it easy to do errands?

So you may have noticed there’s a grocery store just a few minutes away. But does it sell items you want to buy and can you afford it? How about a gas station, library, school, hospital, or any other destination you frequent? Just some thoughts to consider before you commit to a future in the home.

5. Will it feel good to pull up to this home day after a long day and will you feel pleased and proud that you own it?

Money isn’t everything. It may be the greatest bargain you have ever come acorss….but at the end of the day, can you feel yourself calling this place home?

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016. Inlanta Mortgage is proud to be a recent recipient of a 2012 Top Workplace Award.