Don't Let Fear Stop You from Applying for a Mortgage | MyKCM


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.

For many, the mortgage process can be scary, but it doesn’t have to be!

In order to qualify in today’s market, you’ll need to have saved for a down payment (73% of all buyers made a down payment of less than 20%, with many buyers putting down 3% or less), a stable income and good credit history.

Throughout 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.

Once you’re ready to apply, here are 5 easy steps that Freddie Mac suggests you follow:

  1. Find out your current credit history & score – even if you don’t have perfect credit, you may already qualify for a loan. The average FICO® Score of all closed loans in September was 724, according to Ellie Mae.
  2. Start gathering all your documentation – income verification (such as W-2 forms or tax returns), credit history, and assets (such as bank statements to verify your savings).
  3. Contact a professional – 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.
  4. Consult with your lender – he or she will review your income, expenses, and financial goals to determine the type and amount of mortgage you qualify for.
  5. Talk to your lender about pre-approval – 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!

Bottom Line

Do 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.


For the past 9 years, we have worked with one of the best Loan Officers in the nation, Ryan Gilliam of Waterstone Mortgage. He's located in Gilbert and can meet with you and go over the exact steps to start the process to getting a home loan. 



Ryan has helped hundreds of our clients achieve their dream of home ownership and can help you too! You can reach out to Ryan directly at (480)635-3035. And even if you just have any questions about how to boost your credit or are just curious what it takes to get a loan, he's a super nice and fun guy and can answer those for you! 


Oh and when you call, mention you saw this post and you will get a FREE Home Appraisal coupon, worth $400!!! 


Dedicated to Your Home Buying Needs,


The Go Sold Realty Team 

Call/Text: (480)305-6655