Dream Getaways: Kurt Warner’s former Arizona home on the market for $3.25 million
December 5, 2019
Editor’s note: As winter has inevitably set in, the Business Journal has brought back Dream Getaways, a look at luxury properties
The next step is Loan Application – above and beyond pre qual and pre approval. Another benefit to completing the very thorough pre-qualification loan process is that now the lender has all of your information, paperwork, and employment detail. Now the lender will require you to answer some detailed questions and information you have already provided, you can also rest a bit easier knowing that the bulk of the hard work is completed. Now it is time for you to sit back and let the professional lenders handle your loan process
Get Pre-qualified!
Getting pre-qualified is an important first step to homeownership and is often overlooked when people are considering buying a home. Getting pre-qualified is like organizing supplies before going on a camping trip.
The more organized you are, the more enjoyable your camping trip will be. Well mortgages are similar because the more preparation you do will result in a low stress experience as you complete the loan process and buy your home.
Pre-qualification vs. Pre-approval
A mortgage pre-qualification can be useful as an estimate of how much you can afford to spend on your home, but a pre-approval is much more valuable because it means the lender has checked your credit and verified your documentation to approve a specific loan amount (usually for a particular period, such as 90 days). Final loan approval occurs when you have an appraisal done and the loan is applied to a property.
When you contact the lender to discuss a home loan, you may be surprised just how thorough the lenders research will be as they determine how much home you can afford. Below we have assembled a list of many of the frequently asked questions by lenders. This list is valuable because it helps buyers understand The significant amount of information they will have to provide a lender before they can obtain a loan. Here is what should expect in the home buying process
❒ Name of current employer, phone and street address
❒ Length of time at current employer
❒ Position/title
❒ Salary including overtime, bonuses or commissions
❒ Income
❒ Two years of W-2s
❒ Pensions, Social Security
❒ Gifted funds from relatives
❒ Public assistance
❒ Child support
❒ Alimony
❒ Assets
❒ Bank accounts (savings, checking, brokerage)
❒ Real property
❒ Investments (stocks, bonds, retirement accounts)
❒ Proceeds from sale of current home
❒ Gifted funds from relatives
❒ Debts
❒ Current mortgage
❒ Liens
❒ Alimony
❒ Child support
❒ Car loans
❒ Credit cards
❒ Real property
❒ Profit & Loss for self-employed
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Massive mixed-use project, including marina, coming to Marker 32 site
December 4, 2019
St. Augustine-based Cadenza Partners plans to construct Harbor Lights Jacksonville, a massive mixed-use community, at the site of Marker 32
Atlanta’s Highlight Homes files for bankruptcy liquidation
December 3, 2019
Home Builder Digest ranked Highlight Homes at No. 4 on its 2018 list of “Best Custom Home Builders in Georgia.”
This $2.6M Martha’s Vineyard home has a balconied master suite, outdoor shower
December 1, 2019
A four-bedroom, three-bath home in West Tisbury is listed for sale for $2.595 million. The 3,769-square-foot estate at 275 Pond
Carolinas a key region to grow homebuilder’s business, says exec
November 30, 2019
TRI Pointe Group Inc. opened a local division, TRI Pointe Homes Carolinas, last October. It joins a group of national