How to Increase Your Chances of Getting a Mortgage

How to Increase Your Chances of Getting a Mortgage

If you’re considering buying a home, you might not know where to start. It can be a complicated thing with a lot of steps, and it’s hard to feel ready to even begin. But it doesn’t need to be overwhelming to prepare to qualify for a mortgage. How can you increase your chances of getting the mortgage you need for the house of your dreams?

Increase Your Chances of Getting a Mortgage: Check Off the Financial Boxes

There’s a reason you have reminders to check your credit rating! You’ve been saving up for a down payment, but how do you know how much you need? All of these things can feel more complex than they are. There are fairly simple checklists which can help. You need to make sure you know how much you can qualify for, at what rate, but this can be queried online in minutes. If your credit rating needs a boost, clear out some of that debt and try again.

Look for Special Loan Programs

There are several governmental programs which can help you to get a loan, especially if you’ve not owned property before. If you’re a first-time buyer, you can qualify for a FSA loan, which means you need a lot less as a down payment than you might think! A VA loan can eliminate a down payment requirement and lower the minimum credit score. Even your company might have assistance options for relocation or purchase in their benefits packages.

Increase Your Chances of Getting a Mortgage: Do the Math

While an agent and bank are more than happy to calculate how much mortgage you can qualify to buy, it’s a good choice to think about the things that they don’t factor into their calculations. If your family has, for example, more medical concerns or debt than the average family, or educational debt (now or future), those things might not be factored into the bank’s formula, but certainly should be calculated into your own! Definitely prepare to purchase a beautiful home, but do not max out your potential for purchasing power. Instead, find a home within the qualifications you need.

Your home-to-be is waiting, and getting a mortgage is easier than ever. Banks are highly motivated to get those homes filled with families who want to live within them! Decide what options you need for your own family, and how much space you need. Look for loan programs that can help!  Pretty soon, you’ll be in your new home!

Read this next: Homeownership Benefits You Don’t Get From Renting 

 Steelbridge Realty LLC  is a Licensed Real Estate Brokerage that utilizes cutting-edge marketing techniques and data-driven Real Estate solutions in today’s ever-changing environment. Our group of professionals have decades of experience and have navigated through many business cycles. Our diverse background gives us the tools to guide people towards successful decisions.

 



 

$1,795,000
Land For Sale
Active
0.4175
ACRES
LEE
COUNTY
3508 Stuart Ct
Fort Myers, FL 33901
York Manor Subdivision
$5,800,000
Land For Sale
Active
1.3945
ACRES
LEE
COUNTY
1215 & 1233 Braman Ave
Fort Myers, FL 33901
Fort Myers Subdivision
$15,950,000
Single Family Home For Sale
Active
4
BEDS
9
TOTAL BATHS
10,033
SQFT
1240 Coconut Dr
Fort Myers, FL 33901
Palm Gardens Subdivision
New Listing - 3 weeks online
$890,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
3,467
SQFT
1249 Osceola Dr
Fort Myers, FL 33901
Riverside Subdivision
$1,545,000
Single Family Home For Sale
Pending With Contingencies
4
BEDS
5
TOTAL BATHS
3,848
SQFT
1266 Gasparilla Dr
Fort Myers, FL 33901
York Manor Subdivision
$1,422,000
Single Family Home For Sale
Pending
3
BEDS
3
TOTAL BATHS
3,445
SQFT
2943 Valencia Way
Fort Myers, FL 33901
Valencia Terrace Subdivision
New Listing - 2 weeks online
$2,290,000
Single Family Home For Sale
Active
3,230
SQFT
3752 Harold Ave
Fort Myers, FL 33901
Fort Myers Subdivision
Price Change - 5 days ago
$599,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
2,503
SQFT
1362 Braman Avenue
Fort Myers, FL 33901
Becklers Riverside Add Subdivision
$1,875,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
4,684
SQFT
3232 Mcgregor Blvd
Fort Myers, FL 33901
Riverside Subdivision
$6,000,000
Single Family Home For Sale
Pending
5
BEDS
5
TOTAL BATHS
7,719
SQFT
2844 Valencia Way
Fort Myers, FL 33901
Lynns Add Subdivision
$479,000
Single Family Home For Sale
Pending With Contingencies
3
BEDS
4
TOTAL BATHS
1,784
SQFT
1414 Alhambra Dr
Fort Myers, FL 33901
Fort Myers Subdivision
$5,499,900
Single Family Home For Sale
Pending With Contingencies
5
BEDS
6
TOTAL BATHS
5,093
SQFT
3914 W Riverside Dr
Fort Myers, FL 33901
Fort Myers Subdivision
New Listing - 2 weeks online
$569,000
Single Family Home For Sale
Active
3
BEDS
2
TOTAL BATHS
1,903
SQFT
1353 Sunbury Dr
Fort Myers, FL 33901
La Chelle Manor Subdivision
New Listing - 6 days online
$1,150,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
3,147
SQFT
1326 Cordova Ave
Fort Myers, FL 33901
Poinciana Park Subdivision
$519,000
Single Family Home For Sale
Pending With Contingencies
3
BEDS
2
TOTAL BATHS
1,802
SQFT
1520 Ricardo Ave
Fort Myers, FL 33901
Fort Myers Subdivision
New Listing - 3 weeks online
$199,900
Land For Sale
Active
0.19
ACRES
LEE
COUNTY
1461 Barcelona Ave
Fort Myers, FL 33901
Fort Myers Subdivision
Price Change - yesterday
$2,795,000
Land For Sale
Active
1.1381
ACRES
LEE
COUNTY
1301 Poinciana Ave
Fort Myers, FL 33901
Poinciana Park Subdivision
New Listing - 3 weeks online
$599,900
Single Family Home For Sale
Active
6
BEDS
3
TOTAL BATHS
2,925
SQFT
1473 Barcelona Ave
Fort Myers, FL 33901
Valencia Terrace Subdivision
$3,990,000
Single Family Home For Sale
Pending
4
BEDS
6
TOTAL BATHS
5,934
SQFT
1201 Carlene Ave
Fort Myers, FL 33901
Caloosa View Subdivision

 

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