Important Steps to getting a Home Loan - IndianPropertyDekho.com

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Step 1.
Improve your CREDIT SCORE
WHAT IS A GOOD CREDIT SCORE
Most are not eligible for a mortgage
300
620
740
850
Best Rate
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Step 2.
Decide on a BUDGET
Look for homes that cost no more than THREE TO
FIVE TIMES YOUR ANNUAL HOUSEHOLD INCOME if you
plan to make a 20 down payment and have a
moderate amount of other debt.
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Step 3.
Get a PRE-APPROVAL
Get a preapproval letter, which is a TENTATIVE
COMMITMENT from a lender, To get one, you'll have
to show the lender documentation of your INCOME,
ASSETS AND DEBTS.
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Step 4.
Organize your PAPERS
Get ready to show your pay stubs, tax returns and
bank statements so that you can PROVE YOU ARE THE
BORROWER you claim you are.
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Step 5.
Decide on a LOAN TYPE
FIXED - Rate will never rise ADJUSTABLE - Lower
rates
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Step 6.
Shop for a HOME Make an offer!
Take as much time as you need to find the right
home. Then work with your real estate agent to
NEGOTIATE A FAIR OFFER based on comparable homes
in the same neighborhood.
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Step 7.
Do not make last-minute MISTAKE
The lender will recheck your employment status
and credit profile just before the closing.

• DON'T
• Quit your job
• Take out a car loan
• Apply for a credit card

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Step 8.
Close the SALE
To finish the close you will SIGN ALL OF THE LOAN
DOCUMENTS required to complete the purchase. It
typically takes a couple of days for your loan to
be funded after the paperwork is finished.
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And most important of all...
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Step 9.
The most important step you can take is to find
right lender. It is their job to GUIDE YOU
SMOOTHLY through to loan approval. They should be
knowledgeable, experienced, responsive, and
willing to take the time to answer questions.
Choose a great LENDER
WHO?
IndianPropertyDekho.com
WHy?
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You need to be working with a experienced
consultant who knows the right questions at the
BEGINNING of the application process. We realize
that YOUR TIME IS VALUABLE, so we don't waste it.
Working with intelligent, thorough professionals
is what our customers love the most about us and
keep them coming back again and again for their
lending needs.
Call on 91-9891521131, 91-9891121131 for any
assistance!!!!
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We are HAPPY to Connect BUYERS, SELLERS and those
Interested to RENT
www.IndianPropertyDekho.com
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