Let’s get started on your home purchase

When buying a home, the first step is getting pre-approval for your home loan, and then your realtor works with you to find the best fit home within your budget constraints.

New to this? You can learn important things to know about home loans in a recent blog post we did here as well.

Did you know?

26% of first time home buyers used a gift as part or all of their down payment!

Steps and things to know to simplify your loan approval


Obtain Your Credit Reports

It’s vital you gather credit reports from the three major bureaus and review them.

Nearly 40% of credit reports have errors, so you’ll want to get those corrected ASAP.


Credit Utilization and Standing

Try to get your credit card balances and outstanding bills low or paid off prior to apply for a mortgage.


Credit Accounts

You’ll want to avoid changes/marks on your credit as much as possible before applying, so try to reduce opening/closing accounts.


Down Payment

This is your most useful tool in the process. The more you can pay up front, the more likely your approval, and of course, it means lower loan/payments.

If you have a great credit score, you’re likely to get approved either way. But if you are a first time buyer or have less credit, the down payment is the main factor in the approval decision.



Consistency is really important with your income.

That said, don’t change jobs or quit prior to applying for a mortgage.


Interest rates

They don’t necessarily affect approval or denial of a loan, but do affect monthly payments. Interest rates may fluctuate during the approval process, as well.

So if you feel they may rise, you can pay a fee to “lock-in” to


Additional Funds

It’s important that you plan for additional costs, specifically closing costs, as well as others.

So avoid major purchases that could harm bank balances.


Price Ranges and Debt-to-Income

To understand what you can afford, it’s vital you determine your debt-to-income ratio.


Sound too complicated? Have Questions? You don’t have to go it alone. Our loan officers are ready and eager to help you.

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Hear from real people, just like you!

The Justin Haines Team prides itself on sharing the important knowledge and information with you, and every customer prior to working together. For this reason, customers feel confident and ready for the home buying process.

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