A pre-qualification is an estimate of how much house you can afford. It’s a simple process that can help you when you start looking for a house. A more formal process is a pre-approval.
Typically your monthly house payments should be around 28 to 30 percent of your total monthly gross income.
In order for us to pre-qualify you, we would need the following information:
• Full name and address
• Purchase price of the house
• Amount of down payment
• Term of repayment
• Annual gross income
• Current debt (such as credit cards, car payments, other debts) and their monthly payments
• How’s your credit?
In order to get pre-approved you will need to file a formal application and provide us with detailed information. If you wish to get pre-approved or apply for a loan please call us for more details.
If you need assistance, please contact a Devon Bank mortgage specialist:
Roger Legner, AVP Residental Lending
NMLS ID# 412697
Chris Weis, Loan Originator
NMLS ID# 412714
Jan Olson, Loan Originator
NMLS ID# 100514
DEVON BANK NMLS ID# 412638