“Starting the First Time Home Buyer Coaching Process”
Thank you for calling me, sorry I was not available and thank you for leaving your email address. I would like to get started with the pre-qualification process. I was referred to you by Cate XXXXX of Coldwell Banker, I would be a first time home buyer.
I would love to be able to buy my own home with a little privacy, but am concerned about how much of a down payment I will need. A mortgage payment shouldn’t be an issue, as I am paying $1200 a month for rent.
If you could please explain how this process is done, I would appreciate any information I would need to move forward.
I like asking lots of questions, here are a few of them:
1) Have you given any thought to where you want to live?
2) Have you given any thought to the price range of a home?
3) Do you have any idea what your credit looks like?
4) How long have you had your current job?
5) What is your current yearly income?
6) What kind of monthly credit card and installment debt do you have every month?
After getting these questions answered I explained to her that the area that she wants to live in will allow a USDA loan, which requires NO down payment. She told me that she had done a lot of research and USDA loans never even came up.
I did a credit report for her while she was on the phone and the credit was great. I gave her some estimated mortgage payments based on the criteria that she mentioned. The math worked. I let her know that I would send her and the Realtor a pre-qualification letter.
Who else do you know that needs my help?
Image courtesy of Phanlop/freedigitalphotos.net
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Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.