Buying a Home on Staten Island

Buying a home is one of the most important decisions you may make in your lifetime. I am asked over and over “What is my first step”? The answer is simple GET PRE-APPROVED. Buying a home on Staten Island is almost impossible unless you have a pre-approval to submit with your offer. Here is what happens when you are pre-approved. Your mortgage broker or Mortgage Banker* will sit down with you and take a look at your credit, income and assets (savings, etc.), once an in debt analysis is completed you will then be able to be pre-approved for a certain amount of money for a certain term. THIS DOES NOT MEAN THAT YOU SHOULD ACCEPT THIS! You MUST also be comfortable with what you are being approved for. For example “Just because your income states you can afford $2500.00 per month does not mean you can afford that. Remember, any increase in what your housing expense is now and what it will be in the future will change your life. What are you willing to sacrifice if anything to make up this difference? Other things to note:

  • How long are you going to stay in the home?
  • Are you growing a family (is there room to grow)?
  • Is your employment secure?
  • Is your income increasing?

All these factors and more come into play when looking to buy a home. A good realtor will assist you and finding a mortgage broker in Staten Island that knows there business (like me), will be instrumental for your success. Contact me for a free analysis and Best Of Luck !!!


About mortgagelendingstatenisland

I am a mortgage banking veteran with over 15 years of experience at every level of the mortgage arena. I am known as the "closer" because of my troubleshooting skils and ability to explain in detail to my clients and business partners "What Makes A Mortgage Approvable".

Posted on September 6, 2013, in Uncategorized and tagged , , , , , , , , . Bookmark the permalink. 1 Comment.

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