How many loans to apply for?

[Anonymous]

My husband I are pulling the trigger this week and applying to get prequalified for our first mortgage.

How many should we apply for and is there a particular order that we should do it? I'm thinking that we will apply with Navy Federal and with the new builder preferred lender, (just to get the closing cost and upgrade bonuses ... is Rocket Mortgage ok? I thought about NACA but they take a long time and they have restrictions on moving out and using it for a rental  property eventually..

We really don't want to  put anything down, (hence the Navy Federal), and we make to much money to  qualify for any of the down payment assistance programs. We have about 5k set aside in cash. Are there any other mortgage companies that have a zero down mortgage option?

[IQn2D]

Are you looking for a new construction or preexisting home?

[Anonymous]

We are open to both. I would prefer new build, but i'm definitely open to a resale.

Ideally, we'd like a loan right around or a little over 300k... but I have 100k in student loans so im not sure how much we'll actually qualify for.

The new homes that we like are base priced at 290k-310k.

[IQn2D]

http://ficoforums.myfico.com/t5/Mortgage-Loans/Do-I-qualify-for-a-mortgage-Info-that-is-needed/td-p/...

Go to the section of the forum above. If your willing to share your finacial information. Someone will tell you if you would be able to qualify for a loan. If you plan on a new build, I would go the pre-qualification route. You can get a contract for a new build with a pre-qualification letter. My build was started with a pre-qual and deposit. If you going the resale route maybe the pre-approval would be good. This should be based off how long you plan on looking at houses. Most seller would love to see a pre-Approval over a pre-qual. I did a lot of research before I pulled the trigger.