Get Pre-Qualified for Your New Home Mortgage

Why Get Pre-Qualified?

A pre-qualification shows sellers you have the financial ability and budget to complete the purchase, so your offer is taken more seriously. It also gives you a clear picture of how much home you can afford and what your monthly costs would be with a mortgage.

How to Get Pre-Qualified

It's simple — call three home-loan sources. It pays to shop your interest rate and loan fees around. Start with your current bank, then a local credit union (joining may be worth it for the terms), and finally a mortgage originator. Each call takes about five minutes of questions about your income, assets, expenses, and debts, and from that they can pre-qualify you for a loan amount.

1. Your current bank
2. Your local credit union
3. A loan originator

Why Shop Around

There's generally no single best source at any given time. Rates and loan fees vary from one provider to the next and change regularly, so shopping your loan can save you anywhere from a couple hundred to several thousand dollars over its life. Buyers often fixate on the interest rate — rightly — but loan fees are just as important and easy to overlook. That's what a lender charges simply to create your loan, and together with the appraisal and other miscellaneous fees it can add hundreds of dollars.

The 3 Parts of Closing Costs

Every financed home closing has three types of costs:

1. Loan Fees — origination fee, appraisal, and similar. These vary the most, so shop them.
2. Pre-Paid Fees — prorated taxes, HOA fees, home insurance, and escrow funding. You get the benefit of these; you're just paying in advance.
3. Government & Title Fees — recording the mortgage and deed, and paying the title company to handle the closing.

Lenders We've Worked With

We've had positive experiences with the lenders below. (They're independent third parties — see the note at the bottom of the page.)

• Carlos Cedeno at Trustco Bank — 407-275-3075 — ccedeno@branch.trustcobank.com
• Giselle Gonzalez at Fairwinds Credit Union — 407-848-8276 — ggonzalez@fairwinds.org
• Ron Abate at Columbus Capital Lending — 407-580-1444 — ronald.abate@gmail.com
• Drew McElmurry at Amerisave Mortgage — 404-424-0734 — amcelmurray@amerisave.com
• John Broskie at Waterstone Mortgage — 407-493-3868 — jbroskie@waterstonemortgage.com
• Patrick Lewis at Premier Nationwide Lending — 407-492-1010 — plewis@pnlending.com

After You're Pre-Qualified

Once you're pre-qualified, you can shop with more confidence. Your loan officer provides a pre-qualification letter to submit with your offer. Once you negotiate and settle on a price, you send the executed contract to your loan officer, who opens a file and starts the process of getting you into your new home.

Documents Your Lender May Request Under Contract

• Proof of income — pay stubs, W-2s, and tax returns
• Veteran or current military status, if any
• Asset statements — bank accounts, IRAs, stocks, bonds, retirement, and other assets
• Student loan information, if any
• Landlord information for the past 12 months (three years for first-time buyers)
• Final divorce decree, if any
• Photo ID — driver's license or passport
• Complete bankruptcy paperwork if discharged within the past seven years

Down Payment Assistance & First-Time Buyer Programs

Down payment assistance and first-time homebuyer programs may be able to help. Check your eligibility with the tool below:

Frequently Asked Questions

Disclaimer: The financial lenders listed on this website are independent third-party institutions and are not affiliated with, endorsed by, or associated with our company. They are provided for informational and reference purposes only. We do not guarantee the accuracy, completeness, or suitability of any lender information presented, and we are not responsible for the services, terms, rates, or practices of any listed lender. Please conduct your own research and due diligence before engaging with any financial institution.