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Jim Lord

Managing Broker

Can I Qualify for a Home?

Can I Qualify for a Home? | Fort Leonard Wood Missouri | Jim Lord 573-528-2652


In the past, the home buying process consisted of viewing homes, making an offer and THEN securing financing.  In today’s market of limited inventory the process has been reversed - FINANCING first, then viewing homes and then securing a winning bid!


We have systemized our approach to help our clients win!  The low inventory is creating bidding wars on property and the first thing a seller considers is the financial strength of the potential buyers. Most sellers, including HUD, Fannie Mae, Freddie Mac, require a loan commitment letter be submitted with the offer.

If you are not paying cash for this home purchase, you may want to take advantage of the valuable information provided below.


You may qualify for a loan if your credit score is 580 or above. If it is, you should start gathering the following items to make the process smooth.

  • Last 2 month’s pay stubs
  • Last 2 month’s bank statements (all pages)
  • Last 2 year’s W-2’s
  • Last 2 year’s Tax Returns – both personal & business, if applicable
  • Most recent mortgage statement if you own your current home
  • Last 12 months rent verification checks, if applicable
  • Year to Date Profit & Loss Statement on CPA letterhead, if self-employed


If you do not know your credit score, we may be able to help.

  • Have you been at the same job for 2 years or longer?
  • Do you pay your bills on time?
  • How are you paid – hourly, salary, commission?
  • Have you had a foreclosure, short sale or bankruptcy in the last 4 years?


To begin the FREE, no obligation process of finding out how much home you can afford and what your credit score is, (click here)