Mortgage Info For Buying A Home Or Refinancing

Learning About Mortgages and Mortgage Programs Before Work

Buying A Home In The 21st Century

The first step in any mortgage process is to get pre-qualified. Getting pre-qualified tells you what your approximate payments are going to match up with your budget and your credit. Being pre qualified means virtually nothing. It is equivalent to the saying: “Garbage in = Garbage out”. What your loan officer tells you is only as good as what you tell them. To make good on your pre qualification you must get pre-approved.

To get pre-approved means that you have spoken to a loan officer, they have gotten a copy of your credit report and know your credit scores. Being pre-approved also means that you have provided pay stubs and W-2′s, bank statements, and other important and required documents to your loan officer and they have had them looked at by an underwriter.

In today’s real estate environment, having a pre qualification letter is just not good enough anymore. You must get yourself pre approved to be a serious home buyer.

What else do you need to know about getting pre qualified and pre approved?

Refinancing Your Home In The 21st Century

Refinancing in the 21st century requires you to know more about the mortgage process and about programs than ever before. If there is something to be learned from the mortgage debacle of 2007 and 2008 is that you as a homeowner must be responsible for the mortgage program that you refinance your mortgage with. You also must understand the risks involved with buying a home with an adjustable rate mortgage with the hopes of refinancing in the future to a fixed rate. The best medicine for keeping yourself out of trouble is to do your research about programs and companies first. That is the point of GetQual.com.

GetQual.com is here to provide the best information available about mortgage and credit related topics to help you make better home buying and refinancing decisions.