Learn the steps for getting pre-approved for your home loan before
shopping for a house.
Learn the process, apply and gather documents
• In order to qualify you as a borrower, the lender will need to validate the data on your application. The lender will be looking for the 5 C’s of lending:
CREDIT– Do you make your credit payments on time? We can help you better your credit scores through our
CHARACTER– Have you been on your job a long time? Does your story make sense? We can help you understand how to navigate this part.
CAPITAL– How much do you have saved up for your down payment? It is easier to qualify with more money down, but it does not mean you have to put more down.
CAPACITY– Do you have the income to support the amount of debt you are borrowing? Also known as debt ratios. We will help calculate your income accurately to get the loan amount that makes sense for you!
COLLATERAL– Is the offer you are making, the right price? Our appraiser will ensure that you are not overpaying for the property you are looking to buy.
The Loan Process
HOME123 MORTGAGE will lead you down the path to homeownership, from the start (understanding your options) to the finish (purchasing your home). Here is the loan process, in 8 simple steps –