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You are on your way to homeownership! Step # 3 of the home buying process is Pre-Qualification.

During this step, you will be providing the documents we discussed in Step # 2 – The Mortgage Loan application.

+ 2 recent paystubs

+ 2 recent bank statements for accounts being used in the transaction

+ 2 recent years tax returns and W2’s

+ Copy of drivers license (front and back)

Prefer keeping things simple and easy? 

Especially big decisions like purchasing a home?

If you answered yes then you’ll love the “Hassle-Free” home buying process I have developed.

Home Buying Process – The Path To Homeownership

I utilize state of the art technology that allows you to complete the mortgage loan application using your mobile phone or a PC.

This amazing system allows you to upload the necessary documents directly to an encrypted loan portal, saving you valuable time.

Using your cell phones built-in camera as a scanner eliminates the need for a scanner or copier.

Once these items are received I will calculate your monthly income and update your assets as needed.

The next step in the pre-qualification process is comparing the data entered with the guidelines of the loan programs you may qualify for.

Mortgage Loan Programs In Virginia and Maryland

Here are a few programs that we can utilize

Conventional Loan – minimum down-payment for first time home buyers is 3%, all others 5%

FHA Loan – minimum down-payment 3.5%

Maryland Mortgage Program (MMP) – Down payment assistance available for qualified first time home buyers 

USDA Loan – 100% financing for qualified areas

VA Loan – 100% Financing for active duty and veteran military

Virginia Housing Development Authority (VHDA) – Down payment assistance available for qualified first time home buyers.

These are the main mortgage programs used and there may be others available for different buying scenarios.

Feel free to reach out if you have a specific need or question regarding loan programs.

Once we have determined the loan program that best fits your needs you are ready for step # 4 of the home buying process – The home search.

Are you excited?

Now you have an idea of how much home you are able to purchase, your estimated monthly payment, and an idea of how much money you will need to complete the transaction.

Want to see how much you may qualify for?

Let’s get started with my hassle-free pre-qualification process today.

Have additional questions and want answers?

CLICK HERE to find a time on my calendar that works for you

Home Loans In Virginia And Maryland

Rod Ferrier is a licensed loan originator in Virginia and Maryland.

A U.S. Navy Veteran, father of four, he began his career as a loan officer in 2002.

He specializes in assisting his clients to navigate the home buying process towards homeownership.

His clients include Veterans, first time home buyers, families looking to purchase a bigger home, as well as empty-nesters seeking to downsize.

Rod’s background in financial planning provides his clients with the opportunity to benefit from the wealth created by strategically purchasing the right home.