[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f97imch1pu6qb":3,"$ffeh0925h8cuz":42,"$fbwk2pqjjqsc7":46},{"item":4,"previous":30,"next":36},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":9,"isInfographic":14,"categories":15,"isVideo":14,"videoThumbnail":9,"videoSource":9,"publishedAt":28,"updatedAt":29},944,"dont-let-fear-stop-you-from-applying-for-a-mortgage","Don't Let Fear Stop You from Applying for a Mortgage","A considerable number of potential buyers shy away from jumping into the real estate market due to their uncertainty about the buying process. A specific cause for concern tends to be mortgage qualification.","","blog","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2017\u002F10\u002F25094910\u002F20171030-Share-STM.jpg","A considerable number of potential buyers shy away from jumping into the real estate market due to their uncertainty about the buying process. A specific cause for concern tends to be mortgage qualification.\u003C!--more-->\r\n\u003Ch4>\u003Cstrong>For many, the mortgage process can be scary, but it doesn’t have to be!\u003C\u002Fstrong>\u003C\u002Fh4>\r\nIn order to qualify in today’s market, you’ll need to have saved for a down payment\u003Cem> (\u003C\u002Fem>\u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2017\u002F10\u002F24\u002Fmillennials-flock-towards-low-down-payment-programs\u002F\">\u003Cem>73%\u003C\u002Fem>\u003C\u002Fa>\u003Cem> of all \u003C\u002Fem>\u003Cem>buyers made a down payment of less than 20%, with many buyers putting down 3% or less)\u003C\u002Fem>, a stable income and good credit history.\r\n\r\nThroughout the entire home buying process, you will interact with many different professionals, all of whom perform necessary roles. These professionals are also valuable resources for you.\r\n\r\nOnce you’re ready to apply, here are 5 easy steps that \u003Cem>Freddie Mac \u003C\u002Fem>\u003Ca href=\"http:\u002F\u002Fwww.freddiemac.com\u002Fblog\u002Fhomeownership\u002F20160223_hiw_mortgage_application.html\">suggests\u003C\u002Fa> you follow:\r\n\u003Col>\r\n \t\u003Cli>\u003Cstrong>Find out your current credit history & score \u003C\u002Fstrong>– even if you don’t have perfect credit, you may already qualify for a loan. The average FICO\u003Csup>®\u003C\u002Fsup> Score of all closed loans in September was 724, \u003Ca href=\"https:\u002F\u002Fstatic.elliemae.com\u002Fpdf\u002Forigination-insight-reports\u002FEllie_Mae_OIR_SEPTEMBER2017.pdf\">according\u003C\u002Fa> to \u003Cem>Ellie Mae.\u003C\u002Fem>\u003C\u002Fli>\r\n \t\u003Cli>\u003Cstrong>Start gathering all your documentation\u003C\u002Fstrong> – income verification (such as W-2 forms or tax returns), credit history, and assets (such as bank statements to verify your savings).\u003C\u002Fli>\r\n \t\u003Cli>\u003Cstrong>Contact a professional\u003C\u002Fstrong> – your real estate agent will be able to recommend a loan officer that can help you develop a spending plan, as well as determine how much home you can afford.\u003C\u002Fli>\r\n \t\u003Cli>\u003Cstrong>Consult with your lender\u003C\u002Fstrong> – he or she will review your income, expenses, and financial goals to determine the type and amount of mortgage you qualify for.\u003C\u002Fli>\r\n \t\u003Cli>\u003Cstrong>Talk to your lender about pre-approval\u003C\u002Fstrong> – a pre-approval letter provides an estimate of what you might be able to borrow (provided your financial status doesn’t change), and demonstrates to home sellers that you are serious about buying!\u003C\u002Fli>\r\n\u003C\u002Fol>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nDo your research, reach out to professionals, stick to your budget, and be sure that you are ready to take on the financial responsibilities of becoming a homeowner.","\r\nDo your research, reach out to professionals, stick to your budget, and be sure that you are ready to take on the financial responsibilities of becoming a homeowner.",false,[16,20,24],{"id":17,"name":18,"slug":19},5,"For Buyers","buyers",{"id":21,"name":22,"slug":23},11,"First-Time Buyers","first-time-buyers",{"id":25,"name":26,"slug":27},38,"Move-Up","move-up","2017-10-31T10:00:31Z","2017-10-25T10:28:55Z",{"id":31,"slug":32,"title":33,"featuredImage":34,"publishedAt":35,"contentType":10,"isVideo":14},943,"renting-or-buyingeither-way-youre-paying-someones-mortgage","Renting or Buying…Either Way, You're Paying Someone's Mortgage","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2017\u002F10\u002F26113701\u002F20171030-Share-STM1.jpg","2017-10-30T10:00:13Z",{"id":37,"slug":38,"title":39,"featuredImage":40,"publishedAt":41,"contentType":10,"isVideo":14},945,"thinking-about-buying-know-your-credit-score","Thinking About Buying? Know Your Credit Score","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2017\u002F10\u002F26120555\u002F20171101-Share-STM.jpg","2017-11-01T10:00:20Z",{"cover":43,"open":44,"shareSpread":45},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[47,51,52,56,60,64,68,69,73,77,78,82,86,90,94,98,102,106,110,114,118,122,126,130,134,138,142,146,150,154],{"id":48,"name":49,"slug":50},1,"Uncategorized","uncategorized",{"id":17,"name":18,"slug":19},{"id":53,"name":54,"slug":55},6,"For Sellers","sellers",{"id":57,"name":58,"slug":59},7,"Foreclosures","foreclosures",{"id":61,"name":62,"slug":63},8,"Infographics","infographics",{"id":65,"name":66,"slug":67},9,"Home Prices","home-prices",{"id":21,"name":22,"slug":23},{"id":70,"name":71,"slug":72},34,"Senior Market","senior-market",{"id":74,"name":75,"slug":76},35,"Mortgage Rates","mortgage-rates",{"id":25,"name":26,"slug":27},{"id":79,"name":80,"slug":81},41,"For Sale by Owner","for-sale-by-owner",{"id":83,"name":84,"slug":85},42,"Featured","featured",{"id":87,"name":88,"slug":89},45,"New Construction","new-construction",{"id":91,"name":92,"slug":93},52,"Luxury \u002F Vacation","luxury--vacation",{"id":95,"name":96,"slug":97},53,"Rent vs. Buy","rent-vs-buy",{"id":99,"name":100,"slug":101},80,"Time-sensitive","time-sensitive",{"id":103,"name":104,"slug":105},81,"Outdated","outdated",{"id":107,"name":108,"slug":109},147,"Internal","internal",{"id":111,"name":112,"slug":113},148,"Do Not Autopost","do-not-autopost",{"id":115,"name":116,"slug":117},320,"Inventory","inventory",{"id":119,"name":120,"slug":121},321,"Agent Value","agent-value",{"id":123,"name":124,"slug":125},322,"Affordability","affordability",{"id":127,"name":128,"slug":129},323,"Buying Tips","buying-tips",{"id":131,"name":132,"slug":133},324,"Downsize","downsize",{"id":135,"name":136,"slug":137},325,"Economy","economy",{"id":139,"name":140,"slug":141},326,"Equity","equity",{"id":143,"name":144,"slug":145},327,"Forecasts","forecasts",{"id":147,"name":148,"slug":149},328,"Selling Tips","selling-tips",{"id":151,"name":152,"slug":153},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":155,"name":156,"slug":157},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]