Read these answers to frequently asked questions, and you will be well on your way to becoming a homeowner.

1.  How do I know if I make enough, or have enough money to qualify for a home loan?

You will need to assemble information about your income, savings, expenses, and obligations.  Take a look at your credit report.  You can take a free look at your credit report once per year by going to  

2. Ok, I have gathered my financial information, then what?

Finding the right loan and lender is the next step.  It is your responsibility to determine which lender is best for needs.  Or, we can recommend lenders who have given outstanding service working with us in the past.  Contact us for a list of the items you will need to have available.  You will have a greatly improved negotiating position when you are pre-approved for a mortgage.

3.  What will the lender do for me?

In most cases, working with a loan officer can be done over the phone, or through email/scan correspondence. The lender or loan officer will provide you with a pre-approval letter.  The pre-approval letter states that the buyer has the income, credit score and debt/income ratio to qualify for the home being considered.  If you have had situations in the past that have put blemishes on your credit, our lenders will work with you to find a credit solution.

4. How do I determine my real estate wants and needs?

Start by making a list of the 10 most important things (in order of importance) you want to enjoy in your next home.  If you are buying with a spouse or partner, have them make their 10 item list independent of yours.  Then compare!  Deciding which items are essential for your lifestyle, and eliminating those that aren't, will make buying within your budget easier.  

5. Why should I choose a Realtor to work as my Buyer's Agent?


Dooley Real Estate Service - 7995 134th St W - Apple Valley, MN 55124
Phone: 952-431-1575   Email:

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The materials contained within this page may not be reproduced without the express written consent of DOOLEY REAL ESTATE SERVICE. The information herein is believed to be accurate and timely, but no warranty as such is expressed or implied.

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