When should I call a lender in the Buying process?
Contacting a lender to get pre-approved for a loan should be the first action item for anyone that is interested in buying a home. The pre-approval process will typically begin with a phone conversation or a face-to-face meeting between the borrower and the loan officer. The prospective borrower will need to fill out a loan application and give the loan officer permission to run a credit report.
Why are these steps important?
The initial conversation will allow the loan officer to get valuable information such as:
-The number of people on the loan
-Will there be a non-occupant co-borrower
-Permission to run a credit report
-How much cash the borrower has for closing costs and a down payment
-Time-frame for purchasing a home
-Is the borrower self-employed?
-Is the borrower paid by salary, commission, overtime etc?
The loan application provides a great deal of information as well such as:
-Does the borrower own any properties currently
-Employment information
-How long the borrower has been employed at current job
-Monthly income
-Assets such as checking accounts, savings accounts and retirement accounts
-Past credit issues: bankruptcy, foreclosures, short-sales etc.
The credit report provides additional information that is valuable in the pre-approval stage.
–Credit score which will determine the type of loans available
-Score also determines interest rates that the borrower qualifies for
-Amount of monthly debts that need to be factored into the borrower’s debt-to-income ratio
-Are there any collection accounts that need attention prior to final loan approval
-If scores are low, many times a loan officer can offer help in raising the borrower’s credit scores
After gathering information from the initial conversation, loan application and credit report, the lender may need additional documentation in order to provide a pre-approval letter. Once this information is received and reviewed, a lender should be able to let a borrower know the amount of a monthly housing expense payment they would qualify for. A pre-approval letter is a written commitment by a lender to provide a mortgage loan to a borrower. With a pre-approval letter in hand, potential buyers are able to look for properties in their price range with a high degree of confidence that they can purchase a home that fits their needs.
If you are curious about how the process works, check out our previous blog on the entire Loan Process or download our Loan Process Flyer.
NMLS # 838973
If you have any questions about a loan, or would like clarification on any of the information we have provided thus far, please contact our preferred Lender, Keith Harris at Intercoastal Mortgage Company.
The JS Realty Team – not only serving Brambleton, serving all of Northern Virginia.
BRIEF SCHOOL HISTORY
stablished in 1870 during an era of Reconstruction to fulfill the need for free education after the Civil War, 
Nationally recognized and accredited private schools and universities in Loudoun are not hard to find, and the number of Montessori schools is growing steadily as the need for a more hands-on, self-directed classroom environment increases. At the same time, Loudoun County Public Schools is the fastest growing school division in Virginia, and one of the fastest growing public school districts in the United States, having served over 70,000 students in the 2013-2014 school year alone. All 13 high schools in Loudoun have scored above the state average for college readiness and at-or-above the state average in math & reading proficiency. And with expanded educational pathways, such as career and technical training at the 
She had a good grasp on what needed to be done and we were able to give her some additional ideas that we know will help the home show its best.
At this point, Anne was very pleased with our advice and marketing plan, so we moved on to explain the “Exclusive Right to List” listing agreement. This contract between the JS Realty Team and the seller gives us the right to sell their home and represent them. The very next day, Anne signed on with us and became a client of The JS Realty Team @ Samson Properties.
Once the home was ready, we brought in our professional photographer to take still shots and a moving Virtual Tour of the home and neighborhood amenities. When we received the images from the photographer, we set out to build the listing, web sites, take room measurements, film a YouTube video, and create brochures, then roll out our extensive social media campaign. And that’s just part of the many facets of our marketing program. We suggested that the home “go live” on the market on a Thursday evening, so when Realtors and buyers who were searching for homes in Anne’s neighborhood woke up Friday morning, our new listing would be live and complete for them to view.
Once the contract is ratified, our job turns to getting the 
If you have school aged children, then chances are, about 3 days ago you started the countdown to the new school year! Summer has been fun and the heat has been a welcome break from all.that.snow. But the kids are starting to get restless and complain – “We’re going to the [insert fun thing you never got to do this much at that age] again?“ Well hang in there just a few more weeks, because Loudoun County Public Schools start on 
If you were lucky enough to have a school that lets you order pre-packaged supplies (
Another great way to get the lists is to take a trip to your closest 
The first day of school is no time for a drastic adjustment of household sleep schedules. It’s better to ease children back into a routine gradually. So, how, after months of sleeping late, do you get the kids used to earlier wake-up times without creating household chaos first thing in the morning? During the last two weeks of summer, re-introduce a school year bedtime. Begin waking late sleepers earlier and earlier, closer to the hour they’ll need to rise in order to catch the bus on time! While everyone is a little different, the 
Younger children, in particular, need to adapt to new meal routines before the school day demands it of them. Especially those dealing with half-day Kindergarten! Regardless of whether your child will attend in the morning, afternoon, or all day, their tummies will be rumbling when they get home. Plan meals and snacks to accustom little ones to rituals of the school day before the year begins.
Don’t forget the lunch box! It’s easy to slap a sandwich together, toss in a juice box and an apple, and call it a day. But that gets boring, and what happens if you forgot to buy bread yesterday… or your kid refuses to eat a sandwich? We found a great article, “
The Salvation Army
Loudoun County Public Schools rank among some of the highest in the nation. If you’re in the market for a new house, 
LOCATION
This gorgeous town home located in the highly sought after 
This area is a commuters dream; walk out your door to a Metro bus stop or use one of the several Metro bus stops throughout the community. This home is less than 5 miles from the Pentagon Metro Station & King Street Metro Station, and just a short drive to Reagan National Airport & Washington DC Walk to the Dash for a direct ride to the Pentagon.
Windows galore fill this freshly painted home with tons of natural light. Find crown molding, chair rail, ceiling fans, and other updates to this beautifully maintained brick home that backs to a common area.
to enjoy between the animal shows, live music, carnival games, and more! Here’s a sample of what you’ll find each day:
Tuesday, July 28th
Wednesday, July 29th – Children’s Day!
Thursday, July 30th – Senior Citizen’s Day!
Friday, July 31st
Saturday, August 1st