Know you're qualified
As an initial step, most lenders provide buyers the opportunity to become "pre-qualified" or "pre-approved". This will give you the confidence that your home-buying goal can become a reality, and gives you credibility to sellers when you make an offer. We can coordinate the pre-approval appointment, or even set up an on-line or telephone interview. This important first step is available to you at no cost or obligation.

Lender selection
Just as every buyer is different, so are lenders. One lender might specialize in a specific program, for example FHA loans or construction financing for new homes, while others may not even have that program available. We can offer a variety of well qualified local lenders to find the best fit for you. It could make all the difference!

Financing options: Here are some of the issues you may consider. Ask your lender or your Jaqua agent.

• Should I select a fixed interest rate loan, an adjustable rate, or maybe a combination of both?
   
• Should I consider a shorter repayment term (like 15 years instead of 30)?
   
• Can I free up my equity in my current house to use for a down payment before I actually find a buyer and get my house sold?
   
• I was a veteran years ago. Do I still have VA eligibility? What if I used VA financing in the past?
   
• My credit isn't perfect. Can I buy a house?
   
• I have good credit but saving for the down payment is tough. Can I buy with very little money down?
   
• I understand special financing is available for homes in certain locations. Tell me about it.
   
• Are there advantages to using a local lender?

Questions to ask your lender:

• What are your application fees, interest rates and closing costs?
• How long will you commit to that interest rate?
• Are you experienced with this type of financing?
• Do you have a local office? Are you familiar with local practices and service providers?
• Do you have the authority to approve the loan locally?
• How soon can I expect an approval? The closing?

Getting prepared for the loan application
When you are prepared you can expect a warm reception and a prompt response. Your agent will confirm for you the specific items you will need for the loan application. Typically, lenders will require the following:

• A copy of the completed Buy and Sell Agreement
• A copy of the listing information and legal description of the home, along with information on obtaining access for the appraisal
• 2 years' W-2's or tax returns for all borrowers, including addresses and Social Security numbers
• A check for the application fee

Additional Lender Requirements and Closing Details
Your Jaqua agent will assist you with lender requirements such as coordinating access for the appraisal, property inspections, Title insurance requirements, or repairs to the home. We also work with your lender to get the paperwork completed, and copies to you in advance.