Your First Step in Buying a Home

GETTING A LOAN...

It is ESSENTIAL that you receive a Pre-Qualification (at minimum), if not a Pre-Approval, BEFORE you start your home search. A Pre-Qualification will take about 15 minutes of your time, and will only require basic financial information. A Pre-Qualification will give you a good idea of what you can qualify for based on your stated income.** A Pre-Approval will require more paperwork, but makes you a more solid buyer and is more appealing to Sellers.

**‖Qualify‖ may be different than ―afford‖. Just because you can ‗qualify‘ for a loan of a certain amount, doesn‘t mean you will feel comfortable with the payment. Sometimes, it may be best to think ‗backwards‘. Think about what PAYMENT you would be comfortable with, and your Lender can help you to adjust your Home Purchase Price to work around this.
**REMEMBER: The Principle & Interest (known as ―P & I‖) portion of your monthly payment is only part of it. You will also have Taxes (usually about .60- 1% of assessed value), Mortgage Insurance, Roof & Building Insurance, and Utilities to consider. And in many newer communities or townhome/condo properties you will have mandatory HOA dues. Plus any maintenance costs associated with owning the home.

Melanie can help you get that loan process started. If you would please complete this simple application, she will put you in good hands with one of her preferred lenders.

If you prefer to contact a lender of your choice directly that works too.

You will find Melanie's preferred lenders on her MY REFERRAL tab.

RE/MAX Professionals
8500 W. Bowles Ave. #100 • Littleton, CO 80123
Phone: (720)323-4299 • melanie@5280pros.com

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