A strong preapproval starts with a complete understanding of your situation.
Before you get too attached to a house, let’s make sure you understand the financing. I will listen to your goals, review the relevant financial details and help you compare loan structures that may fit. The objective is not simply to find the maximum possible loan amount. It is to help you make an informed decision.
Talk With Joe | Call or Text (808) 829-6344
What we review
Income and employment history; assets and closing funds; credit and debts; purchase price and down payment; property type and occupancy; loan eligibility; taxes, insurance and HOA costs; your timeline and preferred payment range.
The purchase process:
When the scenario is not straightforward
Variable income, self employment, rental income, credit history or multiple properties may require a closer look. That is where thoughtful questions and adaptable problem solving matter. Sometimes the next step is a loan application. Sometimes it is a preparation plan. Both can move you forward.
Conforming loan eligibility is subject to applicable Fannie Mae or Freddie Mac requirements and underwriting findings. Preapproval is not a final loan commitment; property and underwriting conditions apply.
To qualify for a mortgage, lenders typically require that you have a debt-to-income ratio of “43/49.” This means that no more than 43% of your total monthly income (from all sources, before taxes) can go toward your new mortgage payment, and no more than 49.99% of your monthly income can go toward your total monthly debt (including your mortgage payment). VA and FHA loans even allow for higher debt ratios on a case by case basis.
