I get asked more so than ever before, “Is now a good time for buying or refinancing a home?” When should you start planning for your mortgage? The answer is as soon as you think you will be buying or refinancing a home.

Mortgage planning includes analyzing your credit and income for qualification. It also includes an analysis of the different mortgage programs available and what works best for you.

The reason why you should begin planning as soon as possible is that it may take time to qualify. For example, a review of your credit may turn up derogatory items that may take months to fix. The sooner you are aware of the issues, the sooner you can take corrective action. Also, if you are self-employed, you may need to show more income to qualify. A plan could let you know what your income would need to be on your tax returns to qualify. If you are looking to qualify based on an alternative income calculation, such as asset depletion or bank statements, a review today can let you know what you will need to show on your bank statements to qualify.

If you are considering buying or refinancing, contact Counsel Mortgage Group and we can help you get started with your plan.


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