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Why Is Mortgage Planning Important?

Mortgage Planning with a CMPS-certified professional helps you answer the following questions:

Should I rent or buy a home?
How much of a down payment should I use when purchasing a home?
Where should the money come from?
What are the alternatives?
How much should I budget for my monthly housing expenses?
What if I budget less or more?
How will my mortgage decision impact my financial ability to help my children pay for college?
How will my mortgage decision impact my financial ability to help take care of my elderly parents?
How will my mortgage decision impact my financial ability to retire within the budget and timeframe that works for me?
How will my mortgage decision impact my monthly cash flow situation?
How will my mortgage decision impact my financial ability to save money for the future?
How will my mortgage decision impact my financial ability to manage and reduce my debt in a timeframe that works for me?
Should I purchase real estate for investment purposes?
What mortgage strategy should I use when buying a vacation home or investment property?

Before you start looking for your first home, we can help you with a mortgage prequalification.

Impact Mortgage Group can help you get pre-qualified and on your way to home ownership! Simply fill out our mortgage prequalification form securely on our website. With a prequalification letter in hand, you know that you may get approved for a mortgage before you even look at your first potential new home.

Some realtors require buyers to get pre-qualified before even starting to house hunt. A simple mortgage prequalification letter can help you narrow your search to find exactly the home you need. It also makes the mortgage application process that much smoother.

Determine how your credit looks.

Lenders will look at your payment history, income, and current debts to determine how likely you are to pay your loan each month. The number value assigned to your “reliability” is known as your credit score and is one of the biggest factors in getting approved for a mortgage.

There are many websites that allow you to quickly check your credit & credit score for free. Two of our favorites are www.freecreditreport.com and www.creditkarma.com.

If you have a credit score below 640, consider delving deeper into your report to make sure it is accurate. Stay current with all monthly payments and reduce debt where possible to boost your score.

Talk to an expert at Impact Mortgage Group about your financial history, goals, and the path to buy a home.

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