You have been pre-qualified, but not for the amount you would like. Below I will list three of the common obstacles to qualifying for a home and some possible solutions to each.

Excessive Long Term Debt-

• Consolidate your debt into one loan.
• Pay off long term debt by using some of your cash and making a lower down payment.
• Sell one of your assets to pay off some debt.

Inadequate Income-

• Income from alimony, child support, bonuses, overtime, or future raises might be considered in qualifying for a loan.
• Find a Co-Mortgager who is willing to go on the loan with you to help make qualifying easier.
• Make a higher down payment.
• Consider a financing option that will allow you to stretch your purchasing power, such as a FHA loan, adjustable rate mortgage or balloon financing.

Credit Problems-

• Repair your credit file by contacting creditors and requesting that negative information be removed from your records.
• Pay off outstanding judgments, liens and collections.
• Re-establish good credit with a secured credit card.

Mortgage Calculators | Prequalification Application

Buyer's Guide
A step by step guide of
what is involved in buying a home.

Buyer's Criteria
Why Should I Use an Agent?
Buyer Cost Breakdown
Items Needed at Loan Application
Loan Application
Increase Your Purchasing Power
Obtaining the Down Payment
What to Avoid
Types of Loans
Mortgage Glossary of Terms
Services I Will Provide

Moving Guide
Packing Tips