Do you want to purchase a home? Awesome! Congratulations!
Why should you apply for a mortgage loan months or years in advance?
Too often, buyers/borrowers start looking at houses first, find the “perfect” home, only to find out they do not qualify to purchase it. Too sad. Ideally, it is best to apply months in advance to confirm the loan amount, qualifying purchase price, credit score, etc., for these reasons:
  • Verify your mortgage credit score. If lower than desired, it is possible for you and other services to raise your score.
  • Verify credit report info. If there is fraudulent or inaccurate data, you can get it removed, but it may require many months of work by your or other sources.
  • Verify income. If self-employed and loan amount is too low for the desired loan amount, there are ways for you to document higher income for many months to reach your goal.
  • Verify debt payments. There are ways to lower your debt days and months in advance that could be beneficial to reaching a higher loan amount.
  • Shop for the best down payment, loan program and rate options.
Did you know there can be as much as 2% difference in rate between lenders’ loan programs, plus all the different down payment and credit score options. Call Dan the Man for Mortgages for the BEST options, 714-310-4162.
Rave review on Google:
“Dan Stone was very helpful in guiding us to the right lender. He called me periodically to make sure I was happy with how things were progressing. He contacted the lender directly to be an advocate for me. While the refi did take some time to complete, Dan was available and able to assist during the process.” -Tom C.