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.

 



 

$5,600,000
Single Family Home For Sale
Pending
5
BEDS
6
TOTAL BATHS
7,000
SQFT
3336 West Riverside Dr
Fort Myers, FL 33901
Riverside Subdivision
New Listing - 2 weeks online
$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
Price Change - 7 days ago
$640,000
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
New Listing - 6 days online
$1,995,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
4,684
SQFT
3232 Mcgregor Blvd
Fort Myers, FL 33901
Riverside Subdivision
New Listing - 3 weeks online
$490,000
Single Family Home For Sale
Pending With Contingencies
3
BEDS
2
TOTAL BATHS
1,243
SQFT
1338 Alcazar Ave
Fort Myers, FL 33901
Valencia Terrace Subdivision
Price Change - 3 weeks ago
$3,950,000
Single Family Home For Sale
Pending With Contingencies
4
BEDS
6
TOTAL BATHS
5,127
SQFT
1130 Tipton Ct
Fort Myers, FL 33901
Fort Myers Subdivision
$475,000
Single Family Home For Sale
Pending
4
BEDS
2
TOTAL BATHS
2,542
SQFT
1377 Coconut Dr
Fort Myers, FL 33901
Palm Gardens Subdivision
Price Change - 3 weeks ago
$700,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
1,950
SQFT
1250 Sunbury Dr
Fort Myers, FL 33901
La Chelle Manor Subdivision
New Listing - 2 weeks online
$6,500,000
Single Family Home For Sale
Active
5
BEDS
5
TOTAL BATHS
7,719
SQFT
2844 Valencia Way
Fort Myers, FL 33901
Lynns Add Subdivision
New Listing - 5 days online
$515,000
Single Family Home For Sale
Active
3
BEDS
4
TOTAL BATHS
1,784
SQFT
1414 Alhambra Dr
Fort Myers, FL 33901
Fort Myers Subdivision
$284,875
Single Family Home For Sale
Pending
3
BEDS
2
TOTAL BATHS
1,749
SQFT
1425 Alhambra Dr
Fort Myers, FL 33901
Phillips 4th Division Subdivision
Price Change - 2 weeks ago
$1,425,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
4,848
SQFT
1434 Alhambra Dr
Fort Myers, FL 33901
Fort Myers Subdivision
$549,800
Single Family Home For Sale
Pending With Contingencies
2
BEDS
2
TOTAL BATHS
1,726
SQFT
1326 Burtwood Dr
Fort Myers, FL 33901
Seminole Estates Subdivision
$389,000
Single Family Home For Sale
Pending
2
BEDS
2
TOTAL BATHS
1,209
SQFT
3443 Silvestre Dr
Fort Myers, FL 33901
Allen Court Subdivision
New Listing - 5 days online
$545,000
Single Family Home For Sale
Pending With Contingencies
3
BEDS
2
TOTAL BATHS
2,062
SQFT
1238 Morningside Dr
Fort Myers, FL 33901
Seminole Estates Subdivision
Price Change - 2 weeks ago
$3,450,000
Land For Sale
Active
1.1381
ACRES
LEE
COUNTY
1301 Poinciana Ave
Fort Myers, FL 33901
Poinciana Park Subdivision
Price Change - 2 weeks ago
$309,900
Single Family Home For Sale
Pending With Contingencies
2
BEDS
1
TOTAL BATH
975
SQFT
1533 Coconut Dr
Fort Myers, FL 33901
Coconut Grove Subdivision
$555,000
Single Family Home For Sale
Pending With Contingencies
3
BEDS
2
TOTAL BATHS
1,746
SQFT
1345 Morningside Dr
Fort Myers, FL 33901
Seminole Estates Subdivision

 

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