During a recent interview with expert lender Ricardo Torres, we unveiled a few interesting facts about the lending process that today’s homebuyers may be interested to know.
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And, speaking of credit, Ricardo also tells us that lending standards are less strict than you might think in this regard, as well. Some loan programs allow buyers to qualify with scores as low as 580.
With this information in mind, remember that the only way to understand how it might apply to your specific circumstances is to meet with a lender and get pre-qualified. So if you’d like to meet with Ricardo and get started, please give him a call at (956) 739-5440 or visit www.rmtorres.com.
And, as always, if you have any other questions or would like more information about this or another real estate related topic, feel free to give our team a call or send us an email. We look forward to hearing from you soon.
Before buyers do anything else in their home search, the first thing they need to do is to connect with a great local lender. To help us illustrate why this is so important, we recently interviewed Ricardo Torres of Willow Bend Mortgage, who is an expert on the subject.
Beyond the service lenders provide in terms of orchestrating the mortgage process, they can also offer buyers a wealth of information on topics related to home financing.
Between worrying about their credit score and wondering how much money it will actually take to purchase a house to begin with, buyers tend to enter the lending process with a lot on their mind. Thankfully, these issues are exactly the sort of thing lenders like Ricardo deal with every day.
The first matter Ricardo tackled during our brief interview was the issue of cost. According to Ricardo, buyers no longer need to put 20% down to secure a mortgage. These days, there are a number of loan programs out there that, depending on a buyer’s credit score, income, and certain other factors, allow them to put as little as 5%, 3.5%, or even $0 down.
The best way to determine what loan product will work best for your needs is to meet with a lender and get pre-qualified.
And, speaking of credit, Ricardo also tells us that lending standards are less strict than you might think in this regard, as well. Some loan programs allow buyers to qualify with scores as low as 580.
With this information in mind, remember that the only way to understand how it might apply to your specific circumstances is to meet with a lender and get pre-qualified. So if you’d like to meet with Ricardo and get started, please give him a call at (956) 739-5440 or visit www.rmtorres.com.
And, as always, if you have any other questions or would like more information about this or another real estate related topic, feel free to give our team a call or send us an email. We look forward to hearing from you soon.
