Mortgage Loans

When financing your home it is very important to not make any large purchases, it could make a difference between getting approved or not. Lenders want to see that home buyers are not over spending. It is also equally as important not to open up credit cards or other types of loans, even if it is interest free. When lenders calculate your debt to income ratio any monthly payments you owe will go in your debt column and be deducted from your income to establish what mortgage payment you can "afford". 

The first step in shopping for a home is to call a lender and get a pre-qualification letter. Having that letter in hand when you find your dream home will increase your chances of having your offer accepted (in most cases an offer will not be considered without a pre-qualification letter).

A pre-qualification is different than a pre-approval.  Pre-qualification is the lenders opinion that you will be approved. They will ask basic income and debt questions and run your credit report and issue a pre-qualification based on the information you provide.  Once your offer is accepted you typically have 7-10 days to make a loan application with your lender. Once the lender receives your complete loan application they will have the full picture and determine whether or not they can give you a pre- approval.

Call Lisa (540) 322-7377 to get connected with top lenders in the Fredericksburg, Spotsylvania, and Stafford area. 

 

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New Listings

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$269,780
STAFFORD, VA
4
beds
4
baths
Listing courtesy of Bradley Group Realtors
Featured picture for the property VASP217592
$278,000
FREDERICKSBURG, VA
4
beds
3
baths
Listing courtesy of City Realty
Featured picture for the property VAOR135338
$234,000
LOCUST GROVE, VA
3
beds
3
baths
Listing courtesy of Coldwell Banker Residential Brokerage
Featured picture for the property VAFB116084
$149,914
FREDERICKSBURG, VA
3
beds
1
baths
Listing courtesy of EXIT Realty Pros
Featured picture for the property VAFB116016
$309,991
FREDERICKSBURG, VA
3
beds
4
baths
Listing courtesy of EXP Realty, LLC.
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The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Coldwell Banker Elite participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than Coldwell Banker Elite are marked with the IDX icon and detailed information about each listing includes the name of the listing broker.
©2019 BRIGHT, All Rights Reserved. Information Deemed Reliable But Not Guaranteed. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale.
Data last updated: Nov 14, 2019 1:01:am.

Today's Market Trends for Mortgage Loans *

$427,320

0%

$273

-0.09%

1653

-0.04%

October

September

 

1722

1771

 

 

-0.02%

-0.03%

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* All data pertains to single-family homes