Before you fall in love with that gorgeous home, you should get pre-qualified first. A mortgage pre-qualification will help you estimate your monthly payment as well as what you can afford. Based on the financial and credit information provided, LOANLYNX will assist in lining you up with the optimal lender.
While purchasing a home is often the better option, there are times when renting may be a better choice. The answer depends upon how much the home costs, how much you are paying for rent, and how much you will have to pay each year in order to maintain your home. This calculator helps you determine what may be best for you.
You’ll need to apply and get pre-qualified with a credit check & financial review. After your financing is in order, it’s time to hit the pavement, locate a suitable home, and place an offer through your agent. Once under contract you’ll have the home inspected, appraised, and loan underwritten for closing.
Click to access the list of documents necessary to process your loan application and others that may be required at closing. Feel free to download the checklist as a guide when compiling information relevant to your file. Your LoanLynx Loan Originator will keep you posted on all documentation needed to ensure a hassle-free experience from application to closing.
No landlord when owning, so update your home to your taste, though landlords are typically responsible for repairs and upgrades. Mortgage interest can be tax-deductible, unlike rent payments. A fixed rate mortgage can protect you from market fluctuations, though moving might be easier when renting.
There are no doubt a million and one questions that can present themselves when moving through the entire home purchase process. We hope the enclosed answers help provide perspective and you put the home purchase puzzle pieces together. If not, one of our mortgage professionals would be happy to speak with you one-on-one.