Get Pre-Qualified. Choosing the right mortgage product can be another project all together.  But if you are well informed (glossary), this process can also be comfortable and productive.  We recommend that you get pre-qualified before you begin searching for a home.  And here area some of the advantages for doing this:

1. You know exactly, how much money you are going to need to have for down payment and closing costs.
2. You already know the exact range of the property value that you should look for.
3. Once you have identified a home you want to purchase, you have a higher leverage towards negotiating with the seller by being able to prove that you can afford it and that you can buy quickly.
4. And, you save time.  You don't have to, once you have signed an option to buy contract, begin a process of looking for the ideal mortgage product.  This could take you weeks.

NOTE:  You need to be aware that your credit has a value.  It's called " credit score". And it is the factor that matters the most when a bank reviews a mortgage application.  Now, the more your credit report is accessed, the lower your score gets.  So, we recommend that you go to any of the credit reporting companies [Equifax, Trans Union and Experian, (contact us for the addresses and phone numbers of their offices in Puerto Rico)] and ask for a copy with which you will go to the bank or call the bank.  This way, each bank does not have to pull out a credit report, hence not altering your credit score.

We are available to assist in this process.  Please feel free to write or call.