Mortgage Center

Getting Started

One of the many advantages that you have in choosing a CREIT real estate agent (if you are purchasing a home) is that he or she will most likely be your professional CREIT loan officer as well. We feel that it is beneficial to you that your real estate agent has first-hand knowledge of your financial situation so as to serve you seamlessly and with less communication problems since they are one in the same person to assist you. So whether you are financing a real estate purchase, refinancing your existing loan, or obtaining a real estate equity line of credit, your CREIT agent can help you every step of the way.

Check Your Credit Rating:

One of the first things that your CREIT loan officer will ask from you is to fill out an authorization form for us to retrieve your up-to-date credit report that we will gladly explain and go over with you. Credit scores range between 400 and 850. 620 + is considered "good". 680 + is considered "premium" and may possibly help get you a lower interest rate. The higher your FICO® (credit) scores, the less you'll pay on interest rates - no matter whether you're getting a home loan, cell phone, a car loan, or signing up for credit cards. As a seasoned professional, your CREIT loan officer, knows various ways on how you can improve your credit score.

Gather Your 1-2-3 's:

Once your professional CREIT loan officer has an idea of your credit history the next thing that your CREIT loan officer will ask from you is what we call your 1-2-3 's:

• ONE month's recent paycheck stubs
• TWO years recent W2's (or 1099 if you are self-employed)
• THREE months most recent bank or asset statements (stocks, bonds, 401K, etc.)

Regardless of the loan type, lenders will require information about you and as a Mortgage Broker we will also need your financial information to pre-qualify you.

Savings & Debt:

If you are buying real estate, try to accumulate funds towards your down payment, closing costs (appraisal, miscellaneous fees, escrow, title insurance, etc.) and expenses such as inspections. Furthermore, try to pay down existing revolving and high interest rate debt like credit cards. Consider paying off more debt and putting down a smaller amount at closing. The move leaves borrowers with larger mortgages, but it will allow them to replace non tax-deductible, high-interest rate debt with lower-rate mortgage debt that features deductible interest.

Hint:

Now is not a good time to change careers, move your money around, or buy big ticket items. Lenders like stability. So if you are considering any major changes, it pays to set up an appointment with a CREIT loan officer and ask us how to proceed before you make any changes! If you are tempted to buy a big ticket item, consider the following:

* Based on a 30 year mortgage at 6% interest.