Stephanie Boyes | The mortgage Process | Best Omaha Mortgage Lenders

04 May 2018

What you Need to know about the Mortgage Process

What you Need to know about the Mortgage Process

So, you are ready to buy a home and become a homeowner. Congratulations! Whether you are looking at becoming a homeowner for the first time or going through the process for the second, third, or even fourth time, the mortgage process can feel complicated.

Now that you are officially house hunting, chances are you will also need to know about the mortgage process. While it seems like a daunting and confusing world, there are ways to stay in front of it all and make sure your home buying experience is as stress-free as possible, especially if you use the right mortgage lender in Omaha, NE.

In order to qualify for a mortgage in today’s market, there are a few things to consider. First, you should know your credit score. Knowing your credit score will give you some very powerful information and give you the ability to know where you stand financially. Once you get your score, you will know if you need to take immediate steps to improve your score or even if there has been fraud committed with your information. Having this knowledge ahead of time will give you the ability to straighten things before you find the home of your dreams.

When you are finally ready to work with Omaha mortgage lenders and get your mortgage rolling, they will ask you all sorts of financial information. Be ready to provide lengthy employment history via W-2 and tax returns so that your income can be verified. You will also likely be asked for bank statements on any other accounts to verify your savings. Your lender will pull your credit history information as well. This will help you know your qualifications as well as learn more about mortgage rates in Omaha.

While your mortgage lender is an excellent resource, don’t rule out other financial professionals to help give you a realistic view of what you can and cannot afford. They can help you develop a spending plan and budget so that you can make sure you take the best and right steps for your home buying future. Finance professionals can also help determine the type of mortgage you can qualify for so that you get the most out of your investment.

Stephanie Boyes of Fairway Independent | The Best Omaha Mortgage Lenders

Your mortgage lender can also provide you with a pre-approval letter which is an excellent step in getting the home of your dreams. When you are ready to make an offer on a home, if you have a pre-approval letter in your hand, the seller will know just how serious you are with your offer. It’s an excellent way to put your offer at the top of the list.

Most importantly, do your research. Find a financial professional you trust and have them help you through the process. Once you do, everything will fall into place beautifully and you will be well on your way to the fabulous life of homeownership. If you are looking for an Omaha mortgage Lenders, contact Steph the Mortgage Genie of Fairway Independent. Having the right team on your side can make all the difference!

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