How to Get a Mortgage
Prior to 2006, anyone could qualify for a 100% loan, with very little income documentation. After the subprime mortgage meltdown, the pendulum has swung in the opposite direction and lenders are now very careful lending their money. They will ask lots of questions, request extensive paperwork and request explanations for seemingly insignificant aspects of the applicant's life.
This does not necessarily mean that you need stellar credit and a 10-year employment history with a Fortune 500 company to qualify. There are still loans being approved! However, it is ESSENTIAL to get a FULL DOC PRE-APPROVAL (not just a prequalification letter) before you start looking for homes. The last thing anyone wants is to find and negotiate the perfect home, just to find out the bank does not approve the loan!.... NEED HELP? PLEASE CLICK ON THE FORM BELOW TO GET ADDITIONAL INFORMATION.