Why Get Pre-Qualified?

1. Pre-qualification acts as a dry run of the loan application process. The mortgage lender will use details you provide about your credit, income, assets and debts to arrive at an estimate of how much mortgage you can afford. The whole process may take only minutes or a few hours at most, and is free.

2. While a "pre-qual" is non-binding to the lender (because the information you provide has not been verified), it does serve as a good indication to potential sellers of your general creditworthiness.

3. These days most sellers will NOT accept an offer without at least a pre-approval letter, so if you are serious about buying this is the first step towards getting you in your new home.

6 Financial Prerequisites for Buying a House

1. Have a Sufficient Down Payment

2. Find an Affordable Interest Rate

3. Have a Minimum Acceptable Credit Score

4. Have a Debt-To-Income Ratio Less Than or Equal to 43%

5. Have the Ability to Pay Closing Costs

6. Have Required Financial Documentation

The Bottom Line

Before you can think about buying the home of your dreams, you need to be sure that your finances are in order and that you've prepared wisely and thoroughly before the mortgage-approval process even begins.

HERE ARE THE MOST REPUTABLE AND DEPENDABLE LENDERS THAT I WORK WITH REGULARLY:

Jeremy T. Bryan ─ Home Savings Bank

200 Fort Pierpont Dr., Suite 105,

Morgantown, WV 26508

JBryan@homesavings.com |

F: 304.906.4832 | C: 304.282.1774

NMLS #1635526 |

Jeffrey A Lagoni - Victorian Finance, LLC
NMLS # 140105

2570 Boyce Plaza Road

Pittsurgh PA 15241
(412) 854-4500

(412) 253-2853

Julie McCracken - Welcome Home Finance, LP

100 Northpointe Circle, Suite 206

Seven Fields PA 16046

Phone: 724-772-3333 ext 2126

Fax: 724-772-3343

Cell: 412-956-1764

www.welcomehomefinance.com

Licensed by The PA Dept. of Banking

NMLS License # 141128 PA License # 24947

Donna Morris – First Federal Savings & Loan of Greene County

NMLS ID # 608027

25 East High Street

Waynesburg, PA 15370

Phone 724-627-4249

Fax 724-627-5878

Melissa Walker – Community Bank

NMLS#511884

100 Miller Lane