How do I prequalify for a loan to buy Fort Hood Real Estate?
#1 of The Seven Things You Should Do Before Buying Fort Hood Real Estate
First time buyers who are looking at Fort Hood real estate want to know how to be prequalified, what it means and how it works.
And I always tell them that the three best things about getting prequalified is that it's FREE, it's SIMPLE and then it's DONE!
Where to Begin:
Just call a mortgage lender and ask to be prequalified for a home loan. If you are eligible for a VA loan, be sure to let the lender know. Not all lenders are approved to originate VA or other government insured loans.
How it Works:
The lender will ask for your name, date of birth, social security number, your work history, your address history, info about how many in your family, your pay and information about your bank accounts or other assets. Once the lender has this info, your credit will be checked and your ratio of debt to income will be calculated. Based on all the information collected and then analyzed, the lender will determine if you qualify to buy a home.
It's Done!
This sounds like a lot of work, but the prequalification often takes less than twenty minutes! Once you are prequalified, you are ready to get out there and shop for your Fort Hood real estate. Knowing that you CAN definately purchase a home gives you a lot of power and confidence out there in the market!
Finding a Lender:
If you don't already have a lender in mind, there are many good local lenders in the Fort Hood area. They charge low closing costs and offer VA, FHA and conventional loans at excellent interest rates. Let me know if you need a list of lenders so you can be prequalified before you arrive at Fort Hood.
