what is your buying power?

Understanding what you can afford and what the bank will lend you requires pre-qualification, so you have a clear idea of your budget. 

While we can work with any financial institution, we also have access to a wide range of lenders who specialize in the manufactured home industry. This ensures you get the best financing options tailored to your needs 

 Pre-qualification is the first step in the home buying process, where a lender assesses your financial situation and estimates how much you can afford to borrow. This process provides you with an idea of your budget and helps you understand the types of loans you may qualify for 

• Establishes Your Budget: Know exactly what you can afford before shopping.
• Speeds Up the Buying Process: Being pre-qualified makes the loan approval process smoother once you find your home.
• Gives You an Edge in a Competitive Market: Sellers take pre-qualified buyers more seriously, which can be beneficial in a competitive housing market.

  Before Starting Your Home Search:
Getting pre-qualified early in the home buying process gives you a clear idea of what you can afford, preventing you from wasting time on homes outside your budget.

When You’re Serious About Buying:
If you’re ready to start looking at homes, it’s a good time to get pre-qualified. This shows sellers that you’re a serious buyer and can make your offer more attractive.

3-6 Months Before You Plan to Buy:
Pre-qualification is often good for 60-90 days, but it’s a good idea to start 3-6 months before you plan to buy. This allows you to address any issues in your credit or financial situation, giving you time to improve your loan options.

 Gather Your Financial Information:

• Income details (pay stubs, tax returns, etc.)
• Information on your debts (credit card balances, car loans, student loans)
• Asset information (savings, retirement accounts)
• Credit score

Contact a Lender:

Reach out to a lender, mortgage broker, or bank. You can usually complete this process online, over the phone, or in person.

Complete the Pre-Qualification Process:
Provide your financial information to the lender. They will use this to give you an estimated loan amount and discuss different loan options.

Receive Your Pre-Qualification Letter:
This letter shows the estimated loan amount you could be approved for, which can help you and your real estate agent set a realistic budget for your home search.