I.S.E. Realty

 Can I Afford A Home? 

Many people believe that owning a new home is completely out of their reach, however, most have never tried to get prequalified or preapproved, or, if they tried preapproval in the past, they were denied and have yet to try again for fear of another denial. The market is constantly changing and your personnal finances also change, so in order to establish if you can own a home we must first find out what your Buying Power is.

Prequalified vs Preapproval

These two terms are often used inappropriately as they are similar yet mean different things to the parties that matter, the lender, and the seller. Getting Prequalified is an informal way of finding out if you might be able to get approved to purchase a home. It is an estimate at best, taken on your word and not truly based on fact.   

Getting Preapproved is a formal review of your financial history and abilities. This process should be conducted by a licensed Loan Officer who can determine your true Buying Power and help you with figuring out what your monthly payments will look like.

You should remember you have the right to choose your own lender, however a good agent should have someone they trust and feel comfortable recommending to you. An outstanding loan officer should have an excellent knowledge of loan programs available and will be able to custom fit one for you. The loan officer should also keep you informed about how much time each process will consume and advise you of any negotiable items of the loan agreement. The quality Loan officer will also update you on interest rate changes and any fees you may need to pay for services.

Progressive Capital Mortgage   

 For more information on Loan programs feel free to contact

Senior Loan Officer 

Trisha Marie Ortiz Lic #27645  

Bus: 210-533-2423

Cell: 210-913-6088

Fax: 210-533-7477

progressivecm@att.net

trisha_ortiz@sbcglobal.net 

Here is a list of Items you will need to help Trisha Preapprove you.

1.  Employment Information: Please bring the name, address, and   phone number with the area code of all employers for the last two years. 
2. Income Verification: Please bring pay stubs for the last 30 days reflecting the current year to date (YTD) income.
3. Tax Information: Please bring W-2's and signed tax returns for the last two years. If you are self-employed, bring profit & Loss statement showing YTD income.
4. Residence Verification: A. Renters bring name, address, and phone number of your landlord(s) for the last two years.     B. Homeowners Bring lenders name, address, account number, and approximate payoff. 
5. Financial Information: Please be prepared to give the name, address and approximate balance for each checking, saving, Certificate of deposit (CD), 401K and/or any other investment account. Please provide the last two months statements for each account.
6.  Creditors: Please bring the lender name, address, account number, and the approximate balance for credit cards and other lenders. Also, please bring last month's statement.
7. Identification: Bring your driver's license and Social Security card. If you have a Green card or work Visa please bring it with you.
8. Veterans: Please bring your certificate of eligibility (original) and your DD214 (discharge papers).
9. Other: If you pay or receive child support or are divorced, please bring your court order or paternal suit for child support and/or divorce decree. If applied, financial report can be obtained by the Office of the Attorney General on proof of payment of child support.
10. Cash or Money order: Please bring $25.00 cash, check or money order at time of appointment; to process your application and pull credit report. When we go to closing it will be credited and is non-refundable.   

New Home Construction

Many decide to have their dream home built on site. There are many advantages to this and a Realtor can assist you with the negotiation process for upgrades, incentives, and styles.

 Click on the "Can a Realtor Help?"page to see more benefits to hiring an Agent.