Mortgage Fears


Many potential buyers shy away from entering the real estate market due to their uncertainty about the buying process. A big part of that uncertainty revolves around qualifying for a mortgage.

The mortgage process can be scary, but it doesn’t have to be!

To qualify for a mortgage in today’s market, you’ll need a down payment (don’t freak out – many buyers put down 3% or less), a stable income and good credit history.

Here are 4 steps to get you started:

  1. Find out your current credit history & score – even if you don’t have perfect credit, you may still qualify for a loan.
  2. Start gathering documentation – income verification (such as W-2 forms or tax returns) and asset information, such as bank statements or retirement account statements.
  3. Connect with a mortgage professional – your real estate agent will be able to recommend a loan officer to determine how much home you can afford.
  4. Talk to your lender about getting pre-approved – a pre-approval letter provides a dollar amount of what you can purchase (provided your financial status doesn’t change), and demonstrates to sellers that you are serious about buying!

Real Estate Bottom Line

Do your research, reach out to professionals, stick to your budget, and be sure you are ready to take on the financial responsibilities of being a homeowner.

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