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Q: What is the first step to getting pre-approved?
A: The first step is to contact a lender and give them information about your employment,
income and credit so that they may determine what loan program is right for you and what
amount you qualify for.
Q: What should I have ready when I apply for a loan?
A: Social Security Numbers, copies of bank statements, recent paycheck stubs, a list of your
debts as well as your last 2 years W-2 forms.
Q: What if I am Self–Employed?
A: There are so many loan programs available for self-employed individuals with loan to values
as high as 95%. Depending on your credit score the rates can be quite competitive.
Q: As a veteran am I guaranteed a loan?
A: No. You must still credit qualify and income qualify. VA just guarantees a portion of the loan if
you qualify through a lender.
Q: What does 100% Financing mean?
A: That means that you are not required to put a down payment on a loan but you may still have
some closing costs to pay depending on the loan program.
A: The first step is to contact a lender and give them information about your employment,
income and credit so that they may determine what loan program is right for you and what
amount you qualify for.
Q: What should I have ready when I apply for a loan?
A: Social Security Numbers, copies of bank statements, recent paycheck stubs, a list of your
debts as well as your last 2 years W-2 forms.
Q: What if I am Self–Employed?
A: There are so many loan programs available for self-employed individuals with loan to values
as high as 95%. Depending on your credit score the rates can be quite competitive.
Q: As a veteran am I guaranteed a loan?
A: No. You must still credit qualify and income qualify. VA just guarantees a portion of the loan if
you qualify through a lender.
Q: What does 100% Financing mean?
A: That means that you are not required to put a down payment on a loan but you may still have
some closing costs to pay depending on the loan program.
Mortgage Frequently Asked Questions!
| Matthew Bowman is a licensed REALTOR for Gables & Gates of Knoxville TN! Copyright 2006. All rights reserved! |
| 11800 Kingston Pike, Knoxville Tn 37934 ~ 865-777-9191 |
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