|
Welcome to the YorkieTalk.com Forums Community - the community for Yorkshire Terriers. You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. You will be able to chat with over 35,000 YorkieTalk members, read over 2,000,000 posted discussions, and view more than 15,000 Yorkie photos in the YorkieTalk Photo Gallery after you register. We would love to have you as a member! Registration is fast, simple and absolutely free so please, join our community today! If you have any problems with the registration process or your account login, please click here to contact us. |
|
| LinkBack | Thread Tools |
05-01-2006, 10:22 AM | #1 |
Always In My Heart Donating Member Join Date: Aug 2005 Location: The Lone Star State
Posts: 3,393
| Buying a house... help!!!! Ok... I awhile back Iwas gonna go and lease out a townhome... decided against it and I am looking into building a custom home... I spoke with a mortgage company and they pre- qualified me for a good amount(well in my area anyway)... now I am needing to fill out the application so she can process my credit & hubby's too... my question is does it help that I was pre- qualifed , or is that not really important????? Thanks... so many questions just curious on ya'lls opinions!@!! |
Welcome Guest! | |
05-01-2006, 10:28 AM | #2 |
Donating YT 10K Club Member | Yes it's to your advantage. It proves to the seller that you do qualify for a home in that price range...unlike if you go in and make an offer, then the seller is waiting to hear if you even qualify. Btw, when the real estate market was at it's hottest here, last summer, sellers would NOT even consider a contract unless you were pre-qualified. HTH.
__________________ Deb, Reese, Reggie, Frazier, Libby, Sidney, & Bodie Trace & Ramsey who watch over us www.biewersbythebay.com |
05-01-2006, 10:30 AM | #3 |
Donating YT 4000 Club Member Join Date: Oct 2005 Location: Missouri
Posts: 4,637
| I got prequalified when I bought my house and everything went really smoothly! I dont know if that does help but it seemed to make mine go good!
__________________ Heather, Chloe Lynn and Daisy May |
05-01-2006, 10:40 AM | #4 |
Princess Poop A Lot Donating Member Join Date: Nov 2005 Location: Colorado
Posts: 6,728
| Only way to go and it shortens your time to purchase a new home. I am transferred all the time and this has allowed me to buy and close on a house in almost 30 days.
__________________ Cindy & The Rescued Gang Puppies Are Not Products! |
05-01-2006, 10:42 AM | #5 |
Little Boogers Donating Member Join Date: Feb 2006 Location: virginia beach, va
Posts: 4,460
| In Va....you Have To Be Prequalified Or They Wont Waist Their Time W You.
__________________ lisa lisa and the cult jam yorkies |
05-01-2006, 11:28 AM | #6 |
Donating YT 8000 Club Member Join Date: Dec 2005 Location: Spokane, WA
Posts: 9,339
| yes you did the right thing. We built our custom home 3 years ago and it is good to know what you are pre-qualified with so you don't get overboard and built a house that is way beyond your budget Custom housing can get pretty pricey because you can have anything and everything you want in it . . for a price of course! My husband swore never to do it again but I on the other hand loved the entire process as I get to chose finishes and fixtures. He did some of the work himself as he is pretty handy but whatever savings we got from his work I spent it on other things that went to the house Good luck and share pictures of the building process . . . |
05-01-2006, 11:38 AM | #7 |
Always In My Heart Donating Member Join Date: Aug 2005 Location: The Lone Star State
Posts: 3,393
| yes... I thought it would help some what.... My biggest worry is that our credit scores are not that great.... but I managed to get a copy of a line of credit from my utilities providing proof that I do pay on time.... My Biggest problem is that I went through fraud so that did not allow me to to build or get approved for BIG CREDIT like credit cards and such..... but I am slowly getting approved for small loans like $100-$500 so that's a start.... the mortgage broker said that with the scores I gave her she knew right off the bat that her instant approval system would not approve it BUT she could try and talk to the lenders and see what happens.... gosh I am soooooo stressed with this.!!! |
05-01-2006, 11:45 AM | #8 | |
Donating YT 500 Club Member Join Date: Nov 2005 Location: Fort Worth, Texas
Posts: 1,279
| Quote:
| |
05-01-2006, 12:22 PM | #9 |
Always In My Heart Donating Member Join Date: Aug 2005 Location: The Lone Star State
Posts: 3,393
| got all of that.... are you kidding..... my tummy does not know what to think~!!! do you think they will go based on the last 2 years income or this years?? |
05-01-2006, 12:29 PM | #10 |
Learn Yorkie CPR! Donating Member Join Date: Dec 2005 Location: New Jersey
Posts: 6,855
| I was pre-qualified too for a lower rate. But then when my cousin went on the mortgage loan the rate went up a little b/c his credit wasn't as good as mine. If your hubby's credit is okay, I wouldn't worry.
__________________ Nicole & Baby "The more men I meet, the more I love my Yorkie!" Last edited by BabyFidgette; 05-01-2006 at 12:29 PM. Reason: too, two, to! |
05-01-2006, 12:32 PM | #11 | |
Learn Yorkie CPR! Donating Member Join Date: Dec 2005 Location: New Jersey
Posts: 6,855
| Quote:
__________________ Nicole & Baby "The more men I meet, the more I love my Yorkie!" | |
05-01-2006, 12:33 PM | #12 | |
Always In My Heart Donating Member Join Date: Aug 2005 Location: The Lone Star State
Posts: 3,393
| Quote:
thanks.. Hubby's score is medium... lol.... my brother in law got approved with his credit score & he makes less $$... but that doesn't mean it will happen neccessarily to out situation..... it just put more stress when the mortgage lady said..."well with the scores you just told me ..our automated system WILL NOT approve you..but I can still try with the lenders....".. geez.... | |
05-01-2006, 12:34 PM | #13 |
Donating YT 500 Club Member Join Date: Nov 2005 Location: Fort Worth, Texas
Posts: 1,279
| I was surprised that they did not ask for DNA or our first born. |
05-01-2006, 12:37 PM | #14 | |
Donating YT 10K Club Member | Quote:
Your gal is a broker....meaning she is shopping you around with mortage companies. You don't need a broker, you can go directly to the source. Our mortages were all through Countrywide and we applied directly as we bought our houses from the sellers not through any agents.... Unfortunately a low credit score means they will charge you a HIGHER interest rate....therefore that means it's that much less you can afford to buy.
__________________ Deb, Reese, Reggie, Frazier, Libby, Sidney, & Bodie Trace & Ramsey who watch over us www.biewersbythebay.com | |
05-01-2006, 12:37 PM | #15 | |
Learn Yorkie CPR! Donating Member Join Date: Dec 2005 Location: New Jersey
Posts: 6,855
| Quote:
Oh, one other thing: buying a house is a pain in the arse! Here's my cousin's and my new house we just bought....for, you ready for Jersey prices? $329,000! And, it's only half the house! It's considered a condo/townhouse, but we don't pay association fees and such. We own the land. We do love it! We are on the left side (where the Chevy Tahoe is).
__________________ Nicole & Baby "The more men I meet, the more I love my Yorkie!" | |
Bookmarks |
|
|
| |
|
|
SHOP NOW: Amazon :: eBay :: Buy.com :: Newegg :: PetStore :: Petco :: PetSmart