Preferred Lenders
The financial part of building a new home can be intimidating, to
say the least. B. Alan Homes has partnered with Washington Federal
to provide you with a quick and effective way to finance your home.
Please use the contact information below for courteous and exceptional
customer service to get started in the loan application process!
Our competant mortgage lenders will consult with you before they
propose specific loan programs. This is important because your
financial goals can differ widely from someone else. Some of the
questions to consider before choosing your loan are: How is my credit
history?
- How much do I have for a down payment?
- How long do I intend to live in the home?
- How much risk am I willing to accept to get a lower payment?
There are loan programs tailored to address these questions and more.
You don't have to wait to save money or pay off debt to start your
loan qualification. Your loan consultant can approve your file subject
to those things happening in the future if they are needed at all. For
instance, if a debt has less than 10 months left, it may not be
included in your debt. It's best to consult with your lender first.
It's best not to pre-judge your credit. You'll be surprised to learn
how many programs and tools lenders have to help overcome credit
challenges.
Ask your mortgage lender how many years they have been lending. It's
an easy career to enter, but challenging to do well. Do you want to
turn over your financial future to someone just learning the business?
Do you know what A.P.R. stands for? It is a tool to help you
determine your total loan cost. The closer it is to your actual rate,
the lower your loan fees. Your lender should be willing to explain it
further with you.
Some lenders have ways to protect your interest rate from rising
while you are building. Ask your lender how long their rates locks are
good for.
The typical documents you will need to be pre-qualified are:
- Recent paystubs
- Last two years' W-2 forms
- Recent bank statements
Other documents that may apply:
- Bankruptcy papers
- Divorce decrees
- Settlement statements from the sale of your home
- Two years' tax returns
Many of your loan documents will need to be updated prior to the
loan transaction being completed. After you have been pre-qualified, it
is best not to get any additional credit and to discuss all financial
changes with your lender.
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