is there a specific company you can get prequalified by? i belong to a teachers credit union.. should i go through there?
philby
Posted:
Member since
Re: how do you get pre qualified?
You just go to a lending institution such as TFCU and pay a fee then they will run your numbers. It is only for serious buyers thiugh because it costs a few hundred dollars. We had an actual mortgage from teachers but wound up using a broker instead in order to obtain two loans in order to bypass pmi!!! Money saved is money earned!!
Boop2704
Posted:
Member since
Re: how do you get pre qualified?
Kristi- Teachers Federal credit union was a little over $300. We already looked into it. Go down there and they will give you a packet with a lot of helpful info. You have to make an appointment to meet with a mortgage person, but you can just stop in to get the packet with info and papers to fill out before going to meet with them!!
I I belong to TFCU too and they offer the second lowest mortage rate around!!!! The first lowest is SONYMA @ 4.25% for first time buyers (they have a website).
To get prequalified you need to see a Mortage Broker I placed the info of who I used on another Post under HOME board... NICK has been wonderful and has been great to work with. Tell him that you belong to TFCU if you cant qualify for the SONYMA then he may send your there BUT see him he'll let you know your options.
Your Mortage broker will 1) check your credit and Prequalify you for a home. 2) tell you the price range of a home you can afford and how to improve your credit for $$$.
