Jose Diaz - Loan Officer
¿Cómo obtener un préstamo hipotecario?

Having your own home is a dream that with effort and organization you can fulfill. If you do not have all the necessary resources to buy it in cash, a mortgage loan will allow you to do so.

You probably already know that a mortgage is a type of loan that you use to buy a home. It’s a good idea to learn as much as you can about getting a mortgage before you start shopping for a home.

The best way to avoid  wasting time is to know the players and the process. That means working with a lender to get the best possible loan.

The steps to follow are:

1-Know your credit score 

Knowing your credit score is very important, generally a minimum credit score is 620, but this can also vary by mortgage program. You should always avoid late payments. TIP: keep credit card balances below 10% (but never $0.00) for the last 2-3 months before purchasing. Better credit score translates into better interest rate.

2- Save to give an initial Downpayment 

A minimum downpayment is mandatory in all mortgage programs, this downpayment must come from your own funds or through a gift from a family member.

3- Maintain a stable job 

The most important requirement to obtain a Mortgage Loan is to have a minimum of 2 years of employment history. So are self-employed workers. The maximum loan limit is defined by the income received.

4- Get a Pre-Approval 

Obtaining a Pre-Approval is the first step, you will have the letter from the bank with the maximum amount that the bank would lend, the mortgage program and the terms of the mortgage. This process is very simple, contact a mortgage lender or Loan Officer to make this request.

What documents do you need to provide?

Your lender will ask you to provide multiple pieces of paperwork to verify your income. Some documents you might need to provide include:

  • At least 2 years of federal tax forms
  • Your two most recent W-2s and pay stubs
  • 1099 forms, or profit and loss statements if you’re self-employed
  • Divorce decrees, child support decisions and any other legal documentation that confirms that you’ll continue to receive payments for at least another 3 years
  • Legal documentation that proves you’ve been receiving alimony, child support or other types of income for at least 6 months, if applicable
And finally! 

You’ll be ready to get the right financing to buy your dream home. Reduce your debts and stay on top of your credit report so as not to affect your score and get the best interest rate.

As a Mortgage Loan Officer in Florida, I can advise you throughout the buying process. If you are thinking of buying a property in Florida, you can call me or write me on WhatsApp or clic here to contact me and I will be ready to provide you with a totally free Financial Advice.

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