Considering your loan options can present a lot of questions. If you don’t find the answer to yours below, please do not hesitate to contact us – we’re here to help.
The first phone call should only take about five minutes. In most cases the full pre-approval process should only take about 30 minutes. Imagine that, being fully pre-approved within 30 minutes and able to make an offer on a house.
Getting pre-approved helps you understand your borrowing capacity before you shop for a home. Before you go looking for your dream home, make sure you know you're shopping in the right price range. Additionally, once you find the home of your dreams, buyers will take your offer more seriously if they know you are pre-approved.
No, the most important thing to do when you are starting to think about buying a new home is to get pre-approved. The current housing market is very fast paced, with limited housing inventory. You should get pre-approved so that you are ready to make an offer right when you find the house that you and your family fall in love with rather than risk the chance of losing it to another home buyer.
There is no cost and no obligation to see if you are pre-approved with McGregor Mortgage, LLC. It only takes a five-minute phone call.
This list includes some of the paperwork you may need to prepare. The exact paperwork needed to qualify for a loan may vary by loan type and applicant.
last two years' W2s and/or 1099s
last two years' personal and/or business tax returns
last two months' bank statements
two most recent paystubs, dated within the last 30 days
valid driver's license and social security card
McGregor Mortgage, LLC can move as fast as you like. We can close some loan programs as fast as two weeks, but others could take up to 30 days.
Whether to get a fixed or an adjustable interest really depends on your budgeting style and the rate environment. If you like to know exactly what you'll be paying for years to come, a fixed-rate mortgage is probably right for you, especially in a low-rate environment.
There are many variables that go into that decision, such as credit score, property condition, amount of down payment. Just making the phone call to McGregor Mortgage, LLC will get you a better idea as to what product or program best suits your needs and wants.