Check Your Credit Score. It is smart to do this well in advance of buying or refinancing a home. Your score will help attract the best deal you can get on a home loan. You want your scores from Equifax, TransUnion, and Experian. You are entitled to one free copy a year from each of these reporting agencies. This will give you time, if necessary, work with your Mortgage Broker to improve your credit scores. Need help? Talk to your LifeTree Loan Officer.
Start Saving for Your Down Payment. Determine how much money you expect to put down on your loan. The more you pay down the less your monthly payment will be. Start a budget and a savings plan. If you can not put a lot of money down, an FHA loan may be the best option for you. Talk to your Mortgage Broker about what funds will be required at closing, so you can plan to have the money available. It is never too early to start saving or planning for your down payment.
Get Pre-Qualified. Use the form on this website to start the pre-approval process. If you are buying a home, note that many real estate agents will not work with you until you are pre-qualified. To save time and money consider working with a LifeTree Real Estate Agent. However, the agent you use is totally up to you.
Always tell the truth. Hiding negative information from your loan officer or on your loan application only slows down the process may even disqualify you for a loan. The truth always comes out it the end. It is better to put all your cards on the table and let your mortgage broker help you get over any adverse situation. Have trust and faith in your Mortgage Broker. At LifeTree, the company has been helping SC home buyers and refinances for over 19 years of professional and expert advice.
l Documents. Most mortgage lenders will request a number of documents from you during the mortgage process. It is best to prepare early. Your lender will require a minimum of Your most recent W-2, Last 2 Pay Stubs, two years of tax returns and current bank or bank or brokerage statements. Respond promptly to all communication from your lender.
Utilize the Tools on this site. Mortgage calculators provided here will come in handy to calculate how much home you can afford, pricing scenarios, taxes and much more. Use them to become more knowledgeable about your options and costs.
Manage Your Debt. Consult with your mortgage broker before you incur or pay off debt. As a rule of thumb, you do not want to make any large purchase while the loan is being approved. Your broker will advise what debts you currently owe may need to be paid off. Ask before you make any decisions regarding your finances until the loan is approved and closed.
Review all of your loan options. Track Interest Rates. LifeTree Lending works with over 25 of the top wholesale lenders in the nation. Once your Mortgage loan officer understands your finances and lending goals, he or she will walk you through all of your viable options and answer all of your questions.
Communicate. Answer emails, return phone calls, meet deadlines and don’t force the Mortgage Broker to chase ou down for information.
Are You Buying A Home
Purchasing a home is perhaps the largest investment you will ever make. The decisions behind that purchase are vast and deep.LifeTree was established to help you seamlessly navigate that purchase with expert knowledge of the process. Whether you are buying your first home, refinancing your existing home, buying a second home, or purchasing investment property, it is our goal to educate our clients through this process so that they are equipped to make well-informed decisions. This section is set up as a quick guide to provide you with exactly the tools you need.