480-675-0112

Myth # 1: You won’t be approved.
The requirements to buy a home may not be a tight as you think they are. Some terms have been relaxed. Talk to a reputable loan officer before ruling yourself out.
Myth # 2: Talking to a lender can wait.
Don’t leave talking to a mortgage professional until after you have chosen a home, as there are things (such as that in #3 and #4) that should be done before you start looking.
Myth # 3: You can find out about and fix your credit later.
Check your credit before starting the mortgage and home buying process, because it may be too late during it.
Myth # 4: Being “pre-qualified” is sufficient.
Pre-qualification is typically an estimate by a mortgage professional of what you can afford based on your self-stated income. To actually get a loan you need to be pre-approved. Pre-approval includes pulling your credit and accumulating other documentation necessary to establish that you should be able to get a loan up to a stated amount.
Myth # 5: You need to have a 20% down payment.
There are other options for some borrowers. FHA has a 3.5% program, and Fannie Mae and Freddie Mac have also have a program for lower income borrowers. Ask your lender representative, or email me at mark@simplysoldaz.com for a referral to someone I trust.

mortgage