How to find the right mortgage lender?
Don’t worry about your finances, choose the professionals who’ll take care of them.
You’re just starting your search to purchase a new house - this is an exciting time! Before you schedule your first home tour, getting prequalified for a mortgage is an important first step. You don’t have to think about it on your own - we’re here to help you.
Having years of experience on the market, we’ve learned how important a trustworthy mortgage lender is during your real estate journey. Put your faith in a leading lender awarded for the exquisite customer service and appreciated for the competitive offers. Choose the business that pair knowledge, individual approach, and integrity, taking care of the most satisfactory results for you.
Here’s a checklist to get you on your way to buying the home of your dreams before you decide on the professional with whom you want to work with.
- Personal documents
You’ll need two forms of government-issued ID, your social security number, divorce papers if applicable, as well as proof of ownership of other property. - Review your credit report
You should be able to do this free of charge. Be sure to dispute any errors or provide an explanation for late payments or derogatory items. Then, keep your credit score healthy by avoiding any new credit inquiries, canceling any credit accounts, or lowering limits with any creditors. Doing any of these things could lower your credit score. - Tax returns
You’ll need to provide tax returns for the previous year, and potentially for the last two years. - Proof of income
Gather W2s, paycheck stubs, 1099s, or a year-to-date profit and loss statement if you’re self-employed. You’ll also need to show other income sources such as Social Security, child support (and proof children’s ages), or government assistance. - Proof of assets
Provide bank statements, mutual fund statements, account balances for retirement accounts, 401Ks, IRAs, and any money held in the stock market. - Debt summary
You’ll need to provide a summary of your debts, monthly payment amounts, child support payments and balances for credit cards, student loans, car loans, other property loans. - Financial issues
You may need to provide a written explanation if you’ve had bankruptcy or other financial issues in the past. - Down payment and closing money ready
Have these funds ready in your bank account. If you received this money as a gift, you might need to provide a letter from the gifter explaining the gift is not a loan. - Renting
Compile proof for the past year with canceled checks or money orders to show rent was paid on time. - Mortgage pre-approval successful
Do some comparison shopping and contact other lenders. A home is likely the largest purchase you’ll ever make, do your homework to ensure you get a competitive deal.
Applying for your first mortgage? Get in touch with us! We’d be happy to walk you through the process and help you find the mortgage lender you can trust.
Our recommended lenders
Ryan Leonard
Mortgage Loan Originator
NMLS #308661 | Company NMLS #2926
Mobile:(843) 492-0321
Ryan Leonard is a loan officer who knows that buying or refinancing a home is the biggest financial decision of their clients' lives. They make a point of consulting with their clients throughout the entire loan process, so they are well-educated and active participants in the transaction. They have an extensive background in all facets of mortgage lending and assisting their clients with many different needs, whether they are a homebuyer looking to purchase a new home or current homeowners looking to benefit from refinancing. Their expertise includes Conventional, Jumbo, FHA, VA, USDA, and Renovation loans. They also make a point of keeping up with the latest financial and industry trends, as well as state and federal regulatory requirements, so they can serve as an informed advocate for their clients. Their focus is on not merely getting their clients a loan, but finding the best loan for them.
Understanding your financing options is a key part of the home buying process—and at South Coast Realty, we’re here to make sure you feel confident every step of the way and get you in touch with our preferred lenders. Whether you're a first-time buyer, upgrading to your dream home, or investing in property, getting pre-approved and knowing your loan choices can make all the difference.
Why Financing Matters
Getting your finances in order early helps you:
- Know exactly what you can afford
- Make stronger, more competitive offers
- Avoid delays once you’ve found the right home
- Stay within your budget and plan for long-term success
Getting Pre-Approved
Before you begin house hunting, we highly recommend getting pre-approved by a trusted lender. This process reviews your income, credit score, and financial history to determine how much a bank or lender is willing to lend you.
Benefits of Pre-Approval:
- Shows sellers you’re a serious buyer
- Helps narrow your home search to what fits your budget
- Speeds up the closing process
Need a recommendation? We partner with experienced, reliable lenders who are happy to walk you through your options.
Common Loan Types
There’s no one-size-fits-all mortgage—here’s a quick overview of some popular options:
- Conventional Loans - Great for buyers with strong credit and stable income. These loans typically require a 5–20% down payment and offer flexible term lengths.
- FHA Loans - Ideal for first-time buyers, FHA loans offer lower down payments (as low as 3.5%) and more lenient credit requirements.
- VA Loans - Available to eligible veterans, active-duty service members, and some military spouses. VA loans offer zero down payment and favorable terms with no private mortgage insurance (PMI).
- Jumbo Loans - Designed for high-value homes that exceed conforming loan limits. Perfect for luxury buyers or those purchasing in competitive markets.
- Adjustable-Rate Mortgages (ARMs) - ARMs offer lower initial interest rates that adjust after a set period. Best for buyers who don’t plan to stay in the same home long-term.
Down Payment & Closing Costs
Depending on your loan type and financial situation, your down payment could range from 0% to 20% or more. In addition, you'll want to budget for:
- Closing costs (typically 2–5% of the purchase price)
- Home inspections and appraisals
- Escrow and title fees
- Prepaid taxes and insurance
