Missouri housing grants

If you’re renting right now, you could be investing your money into a home. You’ll earn equity rather than paying someone else’s mortgage.

Run the numbers for renting versus buying in this calculator comparison.

There are low-income home buying programs in Missouri, down payment assistance, and housing grants to make your dream of homeownership possible.

When you work with an experienced real estate agent, like one from the Sally Moore Real Estate Team, we’ll walk you through everything and pair you with a lender who helps first-time homebuyers and others who qualify for down payment help. That way you can find the best down payment assistance or housing grant in Missouri for your personal and financial situation.

First Federal Bank of Kansas City

With the Welcome Home Community Loan Program from First Federal Bank of Kansas City, you get $3000 for closing costs or down payment help. This low-income home buying program helps home buyers with low-to-moderate income or homeowners buying a home in a low-to-moderate census tract.

It’s not just for first-time homebuyers. You can also use the money to refinance a property or if you’ve previously bought a home.

This housing grant money has several benefits including:

• No extra hoops or paperwork.
• Purchase a home quickly.
• Don’t have to pay back the money.
• No extra fees.
• Reduced appraisal cost.

With this loan, you’ll only pay $150 for the appraisal instead of the standard $450 fee. [ Download PDF  Welcome Home Loan First Federal Bank of Kansas City ]

Your loan will cost the same whether you qualify for the program or not. You can apply for the loan here.

“You shouldn’t have to throw away money renting if you can have one little boost to be a homeowner. It will put them in a way better position short term and long term,” explained Geony Rucker, a Community Loan Officer with First Federal Bank of Kansas City.

Low-income home buying program

You can use the Welcome Home loan program money to buy a home or refinance. Homebuyers qualify for homes in a low-to-moderate income census tract or low-to-moderate income.

According to federal guidelines, this includes a family of four making between $25,000 and $64,000.

If you don’t meet the income guidelines, your home must be in a qualifying census tract. To find your census tract, plug in your address here. Then, compare your census tract to the guidelines for Jackson County [Download Low Income Tracts PDF]. If it’s considered “low” or “moderate” then your new home qualifies.

Remember, you only need to qualify based on income or the census tract.

“It’s an awesome program. It’s not very often that you get to get free money, let alone money where you’re not having to pay it back after you close,” explained Geony.

You can use the money however you want.

“With this, you can use it for down payment or closing costs. In a market where sellers are not wanting to pay closing costs, it’s really nice to have this as an option to help you with that,” said Rucker.

Missouri loan with less than 20% down

Down payment programs lower the amount of money you need to put down to close on the lown.

While 20-percent is often the gold standard, there are ways to put down less than 20-percent.

The Welcome Home Loan from First Federal Bank KC requires just a 3-percent down payment, compared with a traditional loan of 20-percent.

So, how do you qualify?

• Owner-occupied, single-family properties only.
• No minimum loan amount.
• Minimum down payment of only 3%.
• First-time homebuyers must complete an approved homebuyer education program offered by a local housing organization.

Borrowers must also receive Approve/Eligible DU Findings & meet secondary market underwriting guidelines. The underwriting system will verify that your loan meets all financial requirements and your income and assets are accurate right before closing. This is required for all loans and does not add any extra time to the loan processing.

The loan is just one part of the home buying process. When you’re buying your first home, use this first-time homebuyer checklist to make sure you’re prepared for every step of the process.

VA Home Loan Benefits

Like many down payment assistance programs, there are additional benefits for Veterans. If you qualify for a VA loan, you can then combine the Welcome Home program with it. So, you can get no down payment with the VA loan and then an additional $3000 that you can use for closing costs.

“When you combine the fact that they don’t have to make a down payment with an additional $3000 in closing costs they’re coming out with very little out of pocket. So it’s an outstanding program for vets that qualify,” Rucker explained.

We believe everyone deserves to be a homeowner no matter someone’s life situation. It’s a hand up, not a hand out. You still have to qualify for the loan.

I’ve had many people cry at closings because they never thought they could buy a home. It’s hard to buy a home when you’re paying rent and have a car loan. Life is expensive. Saving $3000 is not easy to do when you don’t make a lot of money.

The post How To Use Missouri Housing Grant For Down Payment Help appeared first on Sally Moore Real Estate Team.

Missouri Mortgage Credit Certificate

Frustrated you can’t find the home you’re looking for in your budget? The Mortgage Credit Certificate (MCC) program is the answer! It’ll make your first home affordable. It enables you to buy more house with less money.

Here’s how this Missouri home loan program works. The MCC is an annual federal tax credit. Since it’s a federal tax credit and not a deduction, the financial impact is felt every other week in your paycheck. You adjust your W-4 for the tax credit, up to $2000 a year. You also have the option to get the credit annually, if you prefer that option.

Since you use the tax credit as qualifying income, your debt to income ratio is lower allowing you to buy a higher priced home.

This program is available to qualifying first-time homebuyers and Veterans.

Missouri first-time homebuyer tax credit

So, how much is the Missouri first-time homebuyer tax credit, also known as the Mortgage Credit Certificate? It’s 25-percent of the interest paid, up to $2000 a year for the life of the loan!

While it’s for first-time homebuyers, you’re technically a first-time buyer if you haven’t owned or had an ownership interest in a primary residence for the last three years. So, it’s possible a repeat buyer could qualify for this money.

Many buyers look at their monthly mortgage payment when calculating how much home they can afford. Michelle Ekstam of Community Mortgage, says the difference in monthly costs is significant with the Mortgage Credit Certificate. If your goal is a $1155 monthly payment, you can actually afford $1321 with the program. That’s an extra $166 loan payment each month!

When you look at the numbers in terms of purchasing power, it’s an extra $22,000! Now you can afford a $172,000 home rather than a $150,000 home. Think of all the extra home purchasing options this program opens you up to.

These numbers are based on an FHA loan with 3.5 percent down, and a 5-percent interest rate. Numbers vary based on the going interest rate, your purchase price, and loan. A lender can run specific quotes for your financial situation.

It works with all loans – conventional, FHA, USDA and VA. You can also use it with other down payment assistance programs.

Veterans and Missouri first-time homebuyers qualify for the Mortgage Credit Certificate.

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MCC Guidelines

Here’s the catch. There are income and purchase price limits. Plus, there’s a one-time 1% loan origination fee plus standard closing costs.

The purchase price limit in a non-targeted area is $271,164 and $331,423 in a targeted area. Targeted areas are designated as economically distressed neighborhoods or where at least 70-percent of families have an income that’s 80-percent or less of the statewide median income. That’s a lot of numbers, so it’s best to check the Missouri census tracts which are designated as “targeted” by the Secretary of the Treasury and Housing and Urban Development.

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According to the Missouri Housing Development Commission, these are the latest income limits.

                                                               NON‑TARGETED AREAS              TARGETED AREAS

                                                       1‑2 persons             3+ persons            1‑2 persons            3+ persons

Kansas City MSA                    $80,000                   $92,000                $96,000               $112,000

  (Counties of Caldwell, Cass, Clay, Clinton, Jackson, Lafayette, Platte & Ray) *

Jefferson City MSA                 $71,500                   $82,225                $85,800               $100,100

  (Counties of Cole & Osage) **

Columbia MSA                       $76,400                   $87,860                $91,680               $106,960

  (Boone County)

St. Louis MSA                         $76,800                   $88,320                $92,160               $107,520

  (Counties of Franklin, Jefferson, Lincoln, St. Charles, St. Louis City, St. Louis County & Warren) ***

All Other Areas                      $66,400                    $76,360               $79,680              $92,960

The Mortgage Credit Certificate is is just one of several down payment assistance programs available to Missouri homebuyers. Search for a qualified lender in your neighborhood, or talk with your real estate agent to see who they recommend.

Kansas City Mortgage Calculator

The post How To Afford More House As A Kansas City Homebuyer appeared first on Sally Moore Real Estate Team.

New Missouri home loan offer

If you’re a Kansas City area homebuyer concerned about housing affordability due to rising home prices, there’s a new loan program you need to know about to help with down payment and loan costs. The MHDC HFA Down Payment Loan offers a conventional loan and a cash subsidy to qualified buyers.

Buyers get 4% cash assistance plus up to $2500 more. The amount of the gift depends on your income, and you don’t have to pay it back.

“We’ve never had anything like this before,” said Michelle Ekstam Jones, a Community Mortgage Senior Loan Originator.

Here’s how the MHDC HFA Down Payment Loan works:

• 4% cash assistance*
• Up to $2500 subsidy for qualifying buyers**
• 640 or better credit score AND Automated Underwriting Approval
• 45% Maximum Debt to Income Ratio
• 5.45% current interest rate for first-time homebuyers — UPDATED: Now 4.95%
• 6% current interest rate for repeat homebuyers

*For qualified buyers, based on income and purchase price rules.
**For qualified buyers, based on income requirements.

[bctt tweet=”Qualified Kansas City homebuyers (first-time and repeat): get 4% cash assistance + up to $2500 with new loan program” username=”SallyMoore”]

The subsidy is based on income limitations.

If you’re under 80% median income, you qualify for $1500. In Jackson County, that’s anyone whose household income is under $64,000.

If you’re under 50% median income, you qualify for $2500! That’s anyone whose household income is under $40,000 in Jackson County, Missouri communities like Blue Springs, Lee’s Summit, Grain Valley, and Oak Grove.

Those are the income limits for the subsidy only! There are separate rules for the cash assistance part of the loan.

If you’re familiar with the First Place and NextStep programs through MHDC, this loan works similiarly except it’s a conventional loan with a no-strings-attached subsidy to qualified homebuyers.

Kansas City closing cost help

“I like the extra cash assistance [subsidy]. It helps buyers with closing costs. In this market, it’s tough to get the seller to pay all the closing costs,” Ekstam Jones explained.

With average closing costs in the Kansas City area around $5000, the subsidy can cover up to half your costs with the potential for the seller to cover the other half.

[bctt tweet=”Need closing cost help on a Kansas City area home? New Missouri home loan program offers help to qualified buyers!” username=”SallyMoore”]

If you make more money than the income requirements for the subsidy, you can still qualify for cash assistance only. That’s available for repeat buyers, Veterans, and first-time homebuyers.

“MHDC’s HFA down payment assistance program with the additional subsidy is making it possible for first-time and repeat buyers with no other down payment sources available to get into homes,” Ekstam Jones explained.

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Kansas City first-time homebuyer cash assistance

First, the cash assistance options for Kansas City first-time homebuyers and Veterans. You can lower closing costs or your down payment through a 4% cash assistance loan.

There are separate financial and personal guidelines to qualify for this part of the program. You can make more money under this part of the program, so more Kansas City home buyers qualify for this down payment assistance.

You need to be a first-time homebuyer with 1-2 people in the home. There is a slight change in the program, in that non-spouses and their income no longer count.

Your income can be up to $80,000 in the Kansas City area if 1-2 people live in your home, excluding non-spouses.

If your household includes 1-3 people, the income limit is $92,000 in the Kansas City area.

There are also purchase price limits. Single-family homes up to $248,098 qualify for this program. If you are buying a home in a targeted area, you can spend up to $303,231.

So, what’s the catch?

“You have to claim 1/10 of the cash assistance every year until you claim it all over ten years. If you claim half as income, then you only pay back half of it when you sell the house. It’s prorated every year,” Ekstam Jones said.

For example, if you sell your home after five years, you’ll likely only pay back half the 4% cash assistance.

You can use this program with other down payment assistance programs, so talk to your lender about the right fit for your financial situation.

If you don’t have a lender, speak with your real estate agent to find out a partner lender.

You can also run your own numbers, to get a ballpark ahead of time of what you can afford, with the Missouri Housing Development Commission Mortgage Calculator.

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Repeat homebuyer down payment assistance

So, what if you’re not a first-time homebuyer or you’re a first-time homebuyer that doesn’t meet the income requirements above? You still may be in luck.

The MHDC Next Step program helps all qualified buyers with down payment assistance. There are higher income limits. The tradeoff is a higher interest rate as well.

If you’re moving to a designated “Opportunity Area” in Missouri, you’ll get a slightly better interest rate.

In Jackson County, Missouri, the income limit is $96,000 for a 1-2 person household and $112,000 for a 3-person household.

The purchase price limit is $331,423 for a single family home. So, a lot of Kansas City area homebuyers qualify for this program!

This is just one of many down payment assistance programs available to Missouri home buyers. For a detailed look at all your options, learn more about the best down payment help in the Kansas City area.

Homeownership is possible, even on a tight budget. Don’t get hung up on a 20% down payment. There are a number of programs that make homeownership possible with far less money. This is just one of them. Here are some of the most common down payment myths we often here.

Overview of MHDC HFA Loan Program

Here’s a snapshot of the MHDC HFA Down Payment Loan Program:

Income Guidelines

• 1-2 people: $80,000 in the Kansas City area
• 1-3 people: $92,00 in the KC area

Credit

• 640 or better credit score AND Automated Underwriting Approval
• 45% Maximum Debt to Income ratio

Loan

• 5.45% current interest rate for first-time homebuyers
• 6% current interest rate for repeat homebuyers
• 4% Cash Assistance plus additional subsidy (Gift) for lower income limits
• Lower Mortgage Insurance Rates
• 97% LTV

Who

• First Time Homebuyers who meet financial requirements
• Repeat homeowners who meet financial rules
• Missouri residents
• Purchasing a single family home including townhomes, manufactured homes, condo, or one side of a duplex

If you have any questions, talk to a knowledgeable real estate agent about down payment options. They’ll be able to connect you with a trusted lender who can help you figure out how much home you can afford.

The post Get More Money With New Kansas City Down Payment Program appeared first on Sally Moore Real Estate Team.

The post 8 Smart Money Moves To Make When Buying a House appeared first on Sally Moore Real Estate Team.

How much house can I afford?

Wanting to buy a Kansas City home? A recent study by HSH, a publisher of information on mortgages and consumer loans, shows the salary you need to afford a home in the 50 largest metros, including Kansas City. The study bases its numbers on current interest rates, median home prices, available property tax and homeowners insurance costs.

Kansas City is in an unprecedented “seller’s market”, with home prices climbing as the number of homes for sale continues to drop. It’s the basic law of supply and demand. According to data from the Kansas City Association of Realtors, the average sales price of a home in 2020 for Jackson County — including Kansas City — climbed to $231,147 in 2020. 

But home buyers in Kansas City need not be discouraged!  HSH found they still need a lower salary than the national average to purchase a home.  That’s because even with the housing shortage and rising home prices, Kansas City still ranks among the most affordable communities in the country.

Want to see the numbers for yourself?  Check out NerdWallet’s house affordability calculator. It breaks down how far your dollar will stretch based on where you’re looking to buy, your household income, down payment, monthly payments for your debt and your credit score.

Bottom line, according to HSH, Kansas City is one of the least expensive metros in the United States! Whether you’re looking for a new construction home or a resale, there’s something for everyone. A Midwest town that gets lots of national accolades, there are housing opportunities for every budget in Kansas City.

Check out our comprehensive guide to the suburbs of Kansas City, and the features of each community.

Related link:
Relocating to Kansas City: How to make the most of our move
Why Blue Springs Schools are consistently rising to the top

Saving on mortgage rates

Another big bonus for home buyers in Kansas City? Even though housing prices continue to rise, their purchasing power has actually never been stronger. That’s because interest rates are at all time lows! In Kansas City, many lenders are offering 30-year fixed rate mortgages for less than 3 percent! Of course, mortgage rates constantly change, and they’re based on your credit, down payment and mortgage length.

A great way to maximize your money even more is to shop around for mortgage rates.  Spending just a little time up front can save you big money down the road.  The difference of just half percentage point can save you thousands of dollars in just a few years!

Unfortunately, the Consumer Financial Protection Bureau found nearly half of home buyers don’t shop for a mortgage. Don’t make that expensive mistake!  Many lenders offer easy online loan applications you can fill out in the comfort and safety of your own home — no need to meet face to face!

To make sure you get the best and most accurate rate quotes as quickly as possible, gather up your records ahead of time. Here’s a great checklist of financial documents you’ll need for pre-approval.  

Remember– you’ll want to do this before you start your home search.  You’ll need that up to date preapproval in hand when you make an offer on your dream home! In today’s market, you may be competing with several buyers wanting the same property, and many sellers won’t even consider your offer unless there’s a preapproval letter attached.   

Finally, Don’t be intimidated by the preapproval process, and don’t believe the many myths flying around about how much money you need to purchase a home.  A recent survey of potential millennial buyers found a majority thought they needed a 20% down payment to buy a home. NOT TRUE! In fact, some conventional loan products require as little as 3% down, FHA loans as little as 3.5% down, and qualified VA buyers can purchase with 0% down.  There are also down payment assistance programs available for certain buyers. Make sure you ask your Realtor®  or lender about what options work best for you. 

Kansas City housing market

The Kansas City housing market is a strong seller’s market. That’s why you need a strong Realtor® who will show you all the options available — like new construction.  The Sally Moore Real Estate Team is marketing 10 new home communities, and we have the inside scoop on how to make your housing dreams a reality when resale options seem so few and far between.  

As a long-time Kansas City area resident, I know the area well. With 16 years of new construction experience, I know where to find the best options for you that you won’t be able to find simply searching online. Together, my team will find the perfect neighborhood for you! Plus– if you’re a first time home buyer, we’ll arm you with the knowledge you need to know, from 8 smart money moves to paying less for homeowner’s insurance. We are real estate matchmakers. Let us know how we can help.

The post How Much Money Do I Need To Make To Buy A Kansas City Home? appeared first on Sally Moore Real Estate Team.

Shopping for a mortgage

Americans love to shop. That is until they’re in the market for a loan.

Let’s face it; nobody likes gathering up their last few tax returns, investment statements, and bank statements. Financial regulations require you show a paper trail for all your money. It’s the frustrating part of buying a home, but it shapes your financial future.

That’s why you should take a deep breath and be patient with the process. Let it work for you.

Unfortunately, nearly half of all mortgage borrowers don’t shop around for a mortgage according to the Consumer Financial Protection Bureau (CPPB). Failing to compare mortgage rates is a costly mistake.

How much money can you save?

So how much can you save comparing mortgage rates? Rates vary by more than a half a percent. On a 30-year fixed rate mortgage, a rate of 4-percent versus 4.5-percent is a difference of $60 a month.

Over five years, the lower mortgage rate saves $3500. Plus, the homeowner pays an extra $1,400 toward principal. Are you convinced to shop around for your next mortgage yet?

[trx_infobox style=”success” closeable=”no” color=”#FFFFFF” bg_color=”#5A80A3″ animation=”bounceInRight”]Save $3500 in 5 years with a 4% interest rate over 4.5%[/trx_infobox]

Before you call lenders, compare mortgage rates with the CFPB’s interactive tool. The estimates are based off a home buyer in the same financial situation.

For example, when you compare rates for a Missouri home buyer purchasing a $250,000 house with a 10-percent down payment, the rates vary between 3.875 and 4.75-percent. By comparing rates, you can save $9,718 in the first five years. Over the life of the 30-year loan, the difference is $41,642. Are you convinced to shop around for a mortgage now?

The CFPB tool uses real data from lenders, and it’s updated daily.

Shopping around for a loan takes a few extra hours. There’s real value in it, though. In the above example, the homeowner saves a whopping $41-thousand.

Despite the savings, the CFPB found 77-percent of borrowers only apply to one lender.

Some banks give quotes over the phone without requiring your financial paperwork. Other lenders require your paperwork and a credit report. Don’t let financial paperwork be an obstacle. There are six steps to get pre-approved for a loan. Go through with the process because the savings are significant over the life of your loan.

How to find the best rate on a loan

Shopping around gives you a choice. You may think a conventional loan is best for your financial situation, but a mortgage broker or lender may offer a better solution.

There are FHA loans for smaller down payments, VA loans for veterans or service members, and adjustable rate loans to name just a few of the loan programs available to borrowers.

If you don’t have a 20-percent down payment, you may need private mortgage insurance or PMI. Ask your Realtor® if there are special programs in your area for first time home buyers who don’t have a 20-percent down payment. These programs may help you avoid paying PMI.

By speaking to a variety of lenders, you’ll get a feel for the best options for your financial situation, and you’ll be able to negotiate.

Loan prices vary based on when you apply for the loan, your credit, debt to income ratio, and the terms of your loan. If you get a 15-year mortgage compared to the traditional 30-year mortgage, you’ll get a lower interest rate.

You can also consider an adjustable rate mortgage. However, with rates expected to go up this may not be a good long-term option. That’s because of the price changes as the market changes.

There are ways to beat current interest rates. You do this with points. They are fees paid to the lender or broker to buy down your interest rate. The Federal Trade Commission suggests you ask for the dollar value of the points, so you know how much you are paying to get the lower interest rate.

You’ll get a quote with an interest rate and the annual percentage rate or APR. The lender calculates your APR based on your interest rate, points, broker fees, and other loan charges.

Related link: How to get pre-approved for a mortgage

How to shop for a mortgage

Before you call a lender, organize your financial paperwork. Second, use a home loan calculator to get an idea of your monthly expenses. Finally, call lenders to compare mortgage rates and fees.

Start your conversation with the various lenders by asking open-ended questions. Use the FTC’s Mortgage Shopping Worksheet as a guide.

Let them tell you the best options for your financial situation. Once you’ve spoken to a few lenders, choose a lender.

You don’t even need to leave your home for this step. Most banks will talk to you over the phone and provide guidance based on your financial situation. Understand, though, rates and fees change depending on when you lock in a rate.

Once you know the terms of your loan and how you want it structured, start the formal loan process.

Like most things in life, get three quotes. Once you own your home, you’ll hear the three quote rule quite often when you hire a contractor. With three quotes, you could save thousands of dollars.

Gather up your financial paperwork, have the lender pull your credit, and get three loan estimates.

Multiple mortgage inquiries don’t hurt your credit

Some home buyers are reluctant to shop for a loan because they worry it will hurt their credit. Unlike traditional loans, multiple credit inquiries for a mortgage don’t drop your credit as long as they’re all done within 45 days.

If you have three mortgage lenders pull your credit, it only shows as one inquiry. That’s because it’s obvious you’re just buying one home.

To accurately compare mortgage lenders, make sure they use the same loan terms. That way you’re comparing apples to apples, and will quickly find the best mortgage deal.

Based on the loan estimates, compare the mortgage rates and fees. Then, negotiate. Finally, lock in the rate you want and start searching for your home knowing you’ll pay the lowest price possible.

If you need a trusted lender in Kansas City, let me know.

The post Easy Way To Save Money On Your Mortgage appeared first on Sally Moore Real Estate Team.

How to get pre-approved

Pre-approval for a loan is an important financial step in the home buying process. It’s something you should consider before you start searching for homes. That way when you find a house you like, you can make a strong offer.

With a pre-approval, the lender checks your credit and verifies your financial paperwork. It’s different than pre-qualification which is an estimate of how much house you can afford, based on unverified financial information that you provide. A pre-approved buyer looks better to a seller than a pre-qualified buyer.

In a seller’s market, buyers need to make as strong an offer as possible. A pre-approval letter helps set you apart and puts you one step closer to your next home.

1. Find a lender

When you’re buying a home, you’re making a long-term financial commitment. So, you want a lender you know and trust.

Just like you shop around for other big ticket items like a car, you should shop around for a lender. Prices and fees vary, and each one may offer you a slightly different interest rate.

Shopping around for a mortgage takes a little time, but there’s a potentially huge payoff. You can save thousands of dollars by shopping around for a lender.

If you have a Realtor®, ask for lender suggestions. Real estate agents typically work with several lenders and can recommend one to use.

Second, ask friends, family members, and colleagues for suggestions.

Third, talk to a mortgage broker. They typically work with multiple lenders so their rates may be different.

Finally, speak to your bank’s loan department.

After speaking with a variety of lenders, you’ll learn about different fees and rates. That makes it easier to choose the best lender for your situation.

Even though you have a pre-approval letter doesn’t mean you have to use that bank for the loan. It speeds up the home buying process, but it’s not required.

2. Provide proof of income

Once you have a lender, it’s time to find all your financial paperwork. Due to financial lending restrictions, be prepared to document your finances. You’ll do it during the pre-approval process and right before your loan closes.

You’ll need to verify your income with two year’s worth of W-2 statements, pay stubs, last two federal tax returns, and proof of any other income.

The pay stubs must include your year to date income.

3. Verify assets

Write a detailed list of all your assets, and then find statements to verify them. These include bank and investment (401K, IRA, CD, stocks, and bonds) statements.

You’ll need 60 days worth of statements or a quarterly statement.

4. Verify your employment

Your pay stubs won’t be enough to verify your job. Your lender will also call your employer.

Some companies use a third-party service to verify employment. Check with your employer so you can give your mortgage company accurate information.

5. Address verification

You’ll also verify your address for the last two years. If you rented an apartment, you might need to list your landlord.

6. Get your credit score

The bank determines your interest rate on many personal factors including your credit score. Your lender will run a credit check and get your score.

Related links:
How to shop around for a mortgage
8 smart money moves to make before buying a house

7. Personal identification

You’ll also need to provide personal identification like your Social Security number and driver’s license.

Bring all of this information to your lender. They’ll pull your credit and verify your paperwork. Once you receive your pre-approval letter, you’re ready to begin searching for homes. Set up a custom search today!

Let me know how I can help you with finding the home of your dreams!

The post How To Get Pre-Approved For A Mortgage appeared first on Sally Moore Real Estate Team.