Let’s convert more Renters to Homeowners

Do you have a potential buyer who has been renting because they feel they cannot purchase a home? Do they still believe that mortgages are impossible to obtain without perfect credit and a 20% down payment?

Here’s the truth on basic factors for qualifying for a home loan:

  • Do they have a steady income?
  • Do they have good credit?
  • Do they have cash in hand for a down payment?

If the answer is “yes” to all three, there is a good chance these clients can get a pre-qualification letter.

But what if…

  • They have a history of major credit events?
    • If so, requirements do vary, but consult with your loan consultant to learn if you may be eligible.
  • They don’t have a ton of cash to put down?
    • There are many programs that will work with 5%, 3.5%, or in some cases even, 0% down payment. So even if your potential client doesn’t have a lot of cash for the down payment, chances are still good there is an available solution.

If your clients have any questions or concerns before they go through the pre-qualifying process, feel free to refer them to me.