Review of financial goals, income, assets, credit, and long-term outlook to determine what loan program fits your budget. A pre-approval gives you confidence when shopping for a home and shows sellers you are a serious buyer.
Once you know your buying power, you can confidently shop for your new home. We help match you with the right mortgage solution to fit your current financial situation and future goals.
Once you find your dream home, we complete a mortgage application and gather the required documentation to send to the lender.
Income, assets, credit, and property details are reviewed, ensuring all aspects of the application meet lender guidelines. Our team keeps you updated along the way to keep you informed.
After the loan has been approved, we review your closing disclosure to make sure you understand all costs and figures of your loan prior to closing.
Signatures are collected, and the keys are yours!
Unfortunately, this answer is complicated. Many factors affect how much home you can afford; some key considerations are:
1. Income
2. Monthly Debt
3. Downpayment & Available Assets
4. Current Loan Programs & Interest Rates
5. Your Monthly Budget
At Smart Financial Services, Inc., we don't believe in a one-size-fits-all approach. We take the time to understand your financial picture and design a mortgage solution just for you. Reach out today to learn more!
No, many programs require as little as 3% down; some even require 0%. Down payments of 20% remove the PMI requirement on conventional loans.
DTI, or Debt-to-Income ratio is a calculation lenders use to determine the amount of debt you have compared to your income. This is used to determine your ability to qualify for and pay back any mortgage debt you plan to incur.
Many people worry that their credit will automatically disqualify them from obtaining a mortgage. The good news is that most lenders will accept credit scores in the 500's if the rest of the application is in good standings.
Technically, no. However, by having a pre-approval in hand, the seller is more confident in your ability to obtain the loan and complete the sale.
Reach out, we would love to help!
Smart Financial Services, Inc.
2778 South 35th Street
Suite 201
Milwaukee, Wisconsin 53215
(414)-645-4444 - Office - (414)-255-3005 - Fax
NMLS – 234470
For more information, please go to our Contact page.
Equal Opportunity Lender