7. What are the qualifying guidelines for this loan?
Qualifying guidelines/requirements can relate to your income, employment, assets, liabilities, credit history and more. First-time home buyer programs, VA loans and other government-sponsored mortgage programs (like FHA) typically offer easier qualifying guidelines than conventional loans. While many lenders just tell you if you qualify or not, you may want to ask about the qualifying guidelines (i.e. why you do/don't qualify) because what you may not qualify for today, you may tomorrow (or a month or two down the road). Truly great Mortgage Loan Officers will point you in the right direction so that, even if you don't qualify for your preferred mortgage loan today, perhaps you will qualify in the not-too-distant future. And, of course, great Real Estate Agents tend to know great Mortgage Loan Officers (I know I have my short list) so just ask...
Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com
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