“My credit isn’t good enough, I’d never qualify to buy a house.”
Have you tried to pre-qualify for a home mortgage loan? Assuming you don’t qualify for a home loan guarantees one thing, you will never truly know. When you prequalify for a home loan, your mortgage planner can tell you a couple of things:
- If you do qualify, how much of a home can you afford?
- If you don’t, what steps can you take to get to where you want to be?
What’s the worst thing that can happen if you speak with a lender to find out if you can prequalify? They can tell you, “Sorry, your credit isn’t so great.” While this may be a little embarrassing, if you pick the right lender then their next comment will be, “Let’s see what steps you can take to get on track with where you want to be and where we need you to be to prequalify.” It’s about the same as having your car break down and not being sure what’s wrong with it. Instead of fixing it you let it sit there and just assume you will never be able to get it running again. Who knows, maybe it just a set of spark plugs or a fouled battery cable. Okay, okay, maybe it is the transmission (been there). But at least if you know that it’s the transmission then you can start to work toward getting it replaced and getting you car back on the road!
Get started by contacting Richard Rodarte at Alterra Home Loans. Richard can provide you with answers about your home loan questions and start you on the path to home ownership. Richard Rodarte (NMLS# 369710), Certified Mortgage Planner Alterra Home Loans 702-349-9629 RRodarte@goalterra.com