A participating lender will determine your ability to repay a 30-year mortgage loan by reviewing your employment and income information, total monthly debt obligations and your past experience with credit along with information about the value of the property you want to buy. These lenders will pre-qualify you so that you will know the approximate price range of homes to shop for. The lender will complete all necessary paperwork for loan approval and assist in the coordination of loan closing with your real estate professional and closing agent. It’s a good idea to get pre-qualified by one of the participating lenders prior to shopping for a home. If you do not qualify for a loan due to credit problems, visit Help for Texans to locate a certified consumer credit counseling provider in your area.
How do I know if I qualify for a mortgage loan through My First Texas Home and/or a certificate through the Texas MCC?
April 23, 2016