The housing market is in flux, but you’re still interested in buying a new home. Understandably, though, you have questions about interest rates, mortgages, and home availability. One of our preferred lenders has answers — and a little perspective!
Allow us to introduce Steve Daniels from Cornerstone Home Lending, Inc. His years of experience and dedication to his clients make him one of our trusted resources! Steve’s team provides a level of customer service a notch above any other lender we’ve worked with. They are communicative, resourceful, and professional.
Even better, with offices not far from our communities, Steve’s team is local, too. They know us and our building processes, and you’re not just a name and a number in the system. There are so many moving parts that come together right before closing; it’s not uncommon to see a glitch in any one of those parts cause delays in closings with other lenders. (The last thing you want to be doing is rescheduling movers, utilities, and deliveries at the last minute!) Steve’s team is proactive and helps make sure the closing stays on time.
So, what’s Steve been telling prospective homebuyers? “With homes selling as fast as they are, it is really important to go ahead and get pre-qualified for a home purchase. Not only will you know exactly what you can afford, but you will be ready to sign a sales agreement and not have to wait to receive a pre-qualification letter.”
Intimidated by the mortgage process? Don’t be! According to Steve, getting the pre-qualification process started takes no time. At Cornerstone, all you have to do is complete an online application. (Make sure you have all your information ready! See our tips below⇣)
Once an application is completed, Steve’s team has it put together and back to the applicant within 24 hours. This level of efficiency is another reason we like working with Steve and his Cornerstone team. Their dedication to providing a great experience for everyone fits in really well with our philosophy here at Beacon Homes.
“Our goal is that every family we work with feels like they are our only client. We want to make them a client for life, not just for this one transaction,” says Steve. “We go the extra mile to make their experience enjoyable.”
This is a great time to build a new home! And Beacon Homes wants to be your builder. We have available homes and homesites, and trusted Preferred Lenders like Steve who can help you make your new dream home a reality.
Tips for Getting Pre-Qualified on a Mortgage
- Gather documentation. Income information, personal information, bank account information, tax information. Also, how much you want to borrow, and how much you plan to put down.
- Pay down existing debt. Reducing your credit card debt helps lower your credit utilization ratio, which is a major factor in determining your credit score. Also, paying down credit cards or other loans means a lower debt-to-income ratio, which helps determine your basic eligibility for a mortgage loan and how much you can borrow if you qualify.
- Avoid borrowing. Any new debt you take on will impact your ability to get a mortgage loan, as well as the capacity to make your payments. Avoid opening new credit accounts for a handful of months before you start the prequalification process. Also, because mortgage lenders run another credit check shortly before closing, you’ll want to avoid borrowing from other sources until you’ve closed.
If you’re interested in learning more, just ask Cori, our new home specialist at 405-358-8615.