Qualifying

There are many loan programs available to help you qualify.

Are you concerned about qualifying for the amount needed to purchase the home that will fit your needs best? Or, is your estimated monthly mortgage amount higher than you expected?

Here are a few options to consider during the qualification process:

• Choose an ARM, which should have a lower initial interest rate, thereby lowering your monthly payments.
• Consider a “temporary buy down” of the interest rate. This would allow you to qualify for a substantially higher mortgage amount because the lower interest rate reduces payments during the early years of the loan.
• Restructure your debt by paying it off with savings or a gift. Or, reduce your monthly payments through debt consolidation or refinancing.
• Add a non-occupant co-borrower to the mortgage (a parent or close relative who won’t live at your house but who would be equally obligated to repay the loan).

Our Mortgage Consultants can help you determine which qualification strategies will work best for you. Remember, their role is to make this process as easy as possible for you while also meeting all of your short- and long-term home financing objectives.