Finding the home of your dreams is exciting. Many people wait a long time to find the right home, to save enough money for a down payment, and to enter their own version of the American dream. It’s lovely finding a home to call your own, and home ownership is beautiful. Buying a home isn’t without stress. It begins with pre-qualifying for a mortgage. Buyers know a preapproval increases their chances of buying the home they want if others are making offers at the same time. A seller is more likely to accept an offer from a prequalified buyer even if it’s lower than the offer made by someone without a prequalification.
It’s also helpful because the bank does all the math to tell you what you can afford in terms of a mortgage. Without preapproval from a lender, buyers aren’t aware how much they can spend. This might lead to someone falling in love with a house way out of their budget. It can also lead to buyers spending months looking for the right home only to realize they can afford far more than they assumed and lost out on numerous houses during their narrowed search. It’s also one way to find out if you even qualify to buy a home right now based on your credit score, your debt-to-income ratio, and your income.
It’s a little more stressful to realize you have so many banking options to choose from when it’s time to submit a prequalification application. There are so many lenders, and you want to have the best rates, terms, and service. If you haven’t considered 360 Mortgage Group for your mortgage, it’s time to see what they have to offer and how you can make it work for you buying a new home.
Loans from 360
This is a lender that works with many situations and families. If you’re a first-time homebuyer, someone who wants to apply for an FHA mortgage so you can save on a down payment, or someone who wants a Jumbo loan, this company offers all of it.
- HARP refinance
- 30-year fixed rate mortgages
- 15-year fixed rate mortgages
- FHA mortgage loans
- ARM loans
No matter which type of loan you’re looking for, 360 has the options you want. The application process is simple, too. You’ll visit the only website and fill out the quick form for preapproval. You need basic personal and financial information as well as your employment information. Once your application is submitted, a loan officer contacts you with your results.
You’ll learn what you can afford, how much house you can buy, how much down payment might be required for the loan you’re working with, and which loans might work best with your financial situation as a consideration. Your loan officer is also able to answer many other questions, such as how the process works, how long it might take, and what all is involved in closing.
Before you apply for any mortgage, get quotes from several lenders. Your financial future is in question when you buy a home, which is why you want the best rate possible. Don’t focus solely on the rate, either. Look at the terms, the customer service, and the ease with which you work with a lender. Your future depends on how well this process goes, and you want to work with someone who has your best interests in mind. Let 360 work for you, but don’t forget to make sure they’re the bank with the best rates and terms before you apply.