Credit Pre-Qual

Market Resources

America's Wholesale Mortgage Broker ^TM

CREDIT PRE-QUALIFICATION

Current San Juan Mortgage Customers

If you have already applied for your loan with San Juan Mortgage, we will evaluate the information you have provided with your application package right up front. The evaluation will be provided from our automated underwriting service if you've applied for a conventional loan. If you've applied for financing not eligible for an automated underwriting descision, we will evaluate your information ourselves and give you an informed opinion.

Prequalify My Credit Before I Apply

If you would like us to prequalify your credit before you go through the application process, we can help you. You should start the process by obtaining a copy of your Three Bureau Credit Report. We can order it for you, but if a lender orders a copy of your credit report under their name, it will negatively affect your credit score, which can create a potential problem for you if your credit score is already marginal.

On the other hand, if you order your own credit report, it will have no affect on your score. We strongly suggest that you order your own report and beware of lenders who offer to order it for you, even at no cost. There is only one type of credit report that will give you a complete picture of your credit. It is called a Tri-Merge RMCR (Residential Mortgage Credit Report), or:

THREE BUREAU CREDIT REPORT with THREE CREDIT SCORES

This type of credit report, which is used in various formats by all mortgage lenders, will pull your credit history and credit scores from all three of the major credit repositories: Experian, TransUnion, and Equifax. You can obtain a credit report containg all three for $29.95 + $9.95 by clicking CREDIT REPORT right here or on our SIDE BAR. Remember to check "Yes, give me all three Credit Scores instead of one for just $9.95" when you place your order. We need to know "your middle score" in order to accurately pre-qualify your credit.

After you receive your report and all three Credit Scores, give us a call and we can talk about it in general terms, which will give you a thorough understanding of your credit, while not creating a loan application until you are ready.

I'm Ready To apply

If you are ready to get a loan, but want to know if you'll qualify before you start the application process, we'll get you started. We can order your credit report, evaluate an on-line application, calculate your income-to-debt ratios, explain the different type of programs available to you, and more... Just give us a call!

I'm Not Ready To Apply - But Want More Information

If you haven't yet applied with us for your new home loan, try our automated CREDIT GRADE CALCULATOR tool. It'll give you an excellent idea about your ability to qualify for a home loan. If you are not ready to apply for a loan at this time, but would like in-depth evaluation of your credit to learn if you would qualify, we will be happy to assist you for a nominal charge. Give us a call or go to our Side Bar and click Request Loan Info under Loan Resources and tell us how we can help you in the Comments section.

There are many internet resources that will allow you to access a free credit report using a single bureau and a single credit score. Lenders require three bureaus and all three scores because they always use your middle score to underwrite your credit. If you order a free report online with only one score, you won't know if its the middle score. Your scores will vary from one bureau to the next. This is why you must obtain all three Credit Scores to accurately determine your true credit score.

If you'd like to buy a home, we're here to help you achieve your goal...

461 Cascade Way - Eastsound, WA 98245
Office Phone: (360) 376-5194
E-Mail: terrydonovan@sanjuanmortgage.com

America's Wholesale Mortgage Broker ^TM