Begin the dialogue with your mortgage lender

The first step in obtaining a mortgage loan is to begin the discussion a qualified mortgage lender.  Our lenders focus on the best options available to you. They provide valuable information that can help guide in your upcoming purchase negotiations and decisions.

You may easily begin that discussion by sending us information about your mortgage loan needs. We are ready and available to help you make those important early decisions that make the entire process easier.

Click here to Get us started working for you. For personalized service we recommend that you talk to your mortgage lender before you start looking for your new house so you: 

More on Pre-Qualification
     LTV and Debt-to-Income Ratios
     FICO Credit Score
     Self Employed Borrower & No Income Verification Loans
     Source of down payment

LTV and Debt-to-Income Ratios
LTV or Loan-To-Value ratio is the maximum amount of exposure that a lender is willing to accept in financing your purchase. Lenders are usually prepared to lend a higher percentage of the value, even up to 100%, to creditworthy borrowers. Another consideration in approving the maximum amount of loan for a particular borrower is the ratio of monthly debt payments (such as auto and personal loans) to income. Rule of thumb states that your monthly mortgage payments should not exceed 1/3 of your gross monthly income. Therefore, borrowers with high debt-to-income ratio need to pay a higher down payment in order to qualify for a lower LTV ratio.

FICO Credit Score
FICO Credit Scores are widely used by almost all types of lenders in their credit decision. It is a quantified measure of creditworthiness of an individual, which is derived from mathematical models developed by Fair Isaac and Company in San Rafael, California. FICO scores reflect credit risk of the individual in comparison with that of general population. It is based on a number of factors including past payment history, total amount of borrowing, length of credit history, search for new credit, and type of credit established. When you begin shopping around for a new credit card or a loan, every time a lender runs your credit report it adversely effects your credit score. It is, therefore, advisable that you authorize the lender/broker to run your credit report only after you have chosen to apply for a loan through them.

Self Employed Borrowers & No Income Verification Loans
Self-employed individuals often find that there are greater hurdles to borrowing for them than an employed person. For many conventional lenders the problem with lending to the self-employed is documenting an applicant's income. Applicants with jobs can provide lenders with pay stubs, and lenders can verify the information through their employer. In the absence of such verifiable employment records, lenders rely on income tax returns, which they typically require for 2 years. An alternative for a self-employed borrower who cannot demonstrate two years of sufficient income from their tax returns would be a limited documentation or reduced documentation loan.

Source of Down Payment
Lenders expect borrowers to come up with sufficient cash for the down payment and other fees payable by the borrower at the time of funding the loan. It is generally expected that these funds be borrower's own saving, although a borrower may receive non-returnable gifts towards down payment and other loan fees.