Financing Pre-Approval
There are many factors that go into determining whether a buyer is qualified to purchase a home, in addition to the financial qualifications.
Only a reputable mortgage representative can determine what size mortgage—and what price home—you can really afford. Most lenders use a ratio range that allows a percentage of income to be used for monthly payments, including principal, interest, taxes and insurance. Lenders will factor in a variety of variables in determining a feasible monthly mortgage payment, including income and other sources of funding, fixed and variable monthly expenses, long-term debt; and credit history.
Through our affiliation with Prospect Mortgage, your Diane Turton, Realtors ® Sales Associate is able to assist you with this part of the process. Prospect Mortgage is a direct lender and can provide you with access to more than 7,000 different loan programs including Jumbo, Super Jumbo, Zero and Low Down Payment, Bridge Loans, Non-Prime, Government, Construction and Commercial.
