Mortgage Readiness Review
Next year is not too early, and neither is next month. The only thing we do not want is you stressed about something you do not need to be stressed about yet.
Have one conversation before you do anything else. That is most of the answer.
If you want something to do today, four things make that first conversation shorter: a look at your credit reports, which are free at AnnualCreditReport.com; what you have set aside for a down payment and closing costs; how your income is paid, whether W-2, self-employed or retirement; and roughly when you would like to move. None of them has to be in good shape yet. They tell us where to start.
A first conversation does not start an application, and it does not put you on anybody's schedule. Six months is a good amount of time to have, because nothing is rushed.
The usual order is listings first and financing second. Reversed, you find out what needs time while there is still time to give it: a credit item, a document that takes weeks to get, or savings that are not quite there yet.
Mortgage Readiness Review
Eight questions, about two minutes. You will get a clear picture of where you stand and what is worth working on before you start making offers.
This is an educational self assessment. It is not a credit decision, a preapproval, or an offer of credit, and it does not affect your credit.
Your readiness picture
Talk it through with Samantha. No application, no credit pull, just a conversation about your situation and what comes next.
Align Lending LLC, NMLS #2041154. Equal Housing Opportunity. Licensed in Michigan, Ohio, North Carolina, Florida, Louisiana and Texas. This assessment is for educational purposes only. It is not a credit decision, a preapproval, a commitment to lend, or an offer of credit, and it does not evaluate your eligibility for any loan program. Any financing options available to you depend on a complete application, a review of your credit and income, the property, and program requirements.
Tell us roughly when you hope to buy, and we will tell you which of these matters first for your timeline.
Basic income and asset documents are a reasonable place to start.
But honestly, we would rather you talk to us first so we can give you a list that matches your situation. A W-2 employee, somebody self-employed, and somebody with retirement income all look different, so a giant generic list mostly creates work that does not apply to you.
Nobody needs homework just for the sake of homework.
First, do not panic. And do not start doing random things you read online.
Let us look at the actual situation. Some people arrive convinced their credit means they cannot even talk to a lender. That is exactly when we want to hear from you. Maybe you are ready now. Maybe you are not. If you are not, it is worth understanding why.
What helps is very individual, which is why there is no single trick worth repeating here. Everyone's file is different. We look at what is actually there and what matters for the mortgage specifically. If something needs time, you find out now, while there is time to work on it.
What calling early actually buys you
Talk through your own situationThe hard version is somebody who calls after they already found the house. Now they are excited. Their agent is asking questions. There is a deadline. And we are meeting them for the first time while everybody is already moving.
Could we still have the conversation? Absolutely. But we always think, we could have had this exact conversation three months ago when nobody cared how long it took.
That is why calling early is not about applying early. It is about giving yourself time. If there is something we need to understand, we have time. If everything looks good, perfect. Go live your life and come back when you are ready.
The early call is almost always easier than the emergency call. Time is what creates choices.
Loan options
If your credit and income are steady, start here. Mortgage insurance applies with a smaller down payment, and borrower-paid mortgage insurance can come off as you build equity.
How it worksFits a thinner credit history or a recent setback. The tradeoff is FHA mortgage insurance, which can last the life of the loan.
How it worksFor eligible veterans, service members and some surviving spouses. No monthly mortgage insurance; a funding fee applies unless you are exempt.
How it works
Samantha Shelton has been a licensed loan officer since May 2020 and founded Align Lending in August 2020. Before mortgages she was a stay-at-home mom raising three boys.
In her own words: "I own a mortgage brokerage in Michigan and I help people understand their options before they make one of the biggest financial decisions they are ever going to make."
Recognition includes Hall of AIME, NAMB Broker of the Year, and Woman with Vision, along with her leadership work with AIME.
Align Lending LLC, NMLS #2041154. Samantha Shelton, NMLS 1647301. Licensed in Michigan, Ohio, North Carolina, Florida, Louisiana and Texas.
Read Samantha's storySamantha is so smart and helpful. She answered all my questions and she followed up with me a week later to ensure I had my questions answered again. She is amazing.
Individual experience. Results vary.
Check it yourself
The official pages behind the rules on this page.
If yours is not here, ask it on the call. There are no dumb questions.
Then we figure out what matters and what does not, and you have information instead of guessing. Not ready usually means not yet, and you leave knowing what would change the answer.
Buying next year is a fine time to call. The first conversation is short, and you find out whether anything needs attention before then.
No. A conversation is not an application, and nothing about it commits you to buying a house.
Not to have a conversation. If and when a credit review becomes part of the process, you will know before it happens.
Those tools are useful for orientation. They guess at taxes and insurance, which in Michigan is exactly where the estimate goes wrong: The year after a Michigan home sells, its taxable value resets to half of the assessor’s market value, so the seller’s tax bill is not your tax bill. The Michigan property tax calculator works out the new owner’s bill for an address. Neither is your actual mortgage.
As a first-time homebuyer in Ferndale, I was unsure of some things. Samantha was awesome. She was extremely helpful and made sure I understood every part of the process.
As a first-time homebuyer in Birmingham, I trusted Samantha at Align Lending for my loan. Her communication was amazing and efficient!
As a first time homebuyer in Birmingham, I fully trusted Samantha at Align Lending for my loan. Her guidance was amazing!
Samantha is very professional, organized, and will make the mortgage process as smooth as possible.
I highly recommend Align Lending to anyone looking for a mortgage broker in Southeast Michigan. The team was knowledgeable, responsive, and easy to work with.
Individual experiences. Results vary.
If the answer is that you are not ready, you know why, and you know what would change it. That is a far better position than wondering.
Not what product you want. What you are actually trying to accomplish.
Samantha works out what matters most for you specifically.
Your options, the tradeoffs, and your next step. No obligation to go further.
Background from the Align Learn Center, if you want to read before you talk to anybody.
Align Lending LLC, NMLS #2041154. Samantha Shelton, NMLS 1647301. Equal Housing Opportunity. Licensed in Michigan, Ohio, North Carolina, Florida, Louisiana and Texas. This page is for educational purposes only. It is not a credit decision, a preapproval, a commitment to lend, or an offer of credit, and it does not evaluate your eligibility for any loan program.
Finished the readiness questions? I'll go over where you landed and what to work on.
Samantha Shelton · Broker Owner and Senior Loan Originator · NMLS 1647301
Text Samantha
Texts go to Samantha at (248) 506-5727. 7 days a week, evenings included.