DROdio Real Estate

Learn How Much You Can Afford
Get Approved For A Loan

You'll need an approval letter to make an offer.

Why An Approval Letter Is So Important: Without a lender pre-qualification or approval letter, you will not be able to make an offer on a property. However, the reason you really need to talk to a loan officer is to figure out exactly what you can afford. Trying to buy a house without talking to a loan officer first is like buying a car with no engine. The loan is what drives the process, and just like a car, there are many different "engines" available for any particular purchase.

You may think you know what you afford, but unless you can answer all of the questions below, you don't truly know, and hence, you're not ready to look at houses!

I understand the differences between an ARM, Interest-Only, and Conventional loans, and I know which one is best for me
I know what points are, and whether or not I want to pay any
I know how much I am approved for, I have a pre-approval or approval letter from a lender, and the approval is less than 90 days old

If you don't have answers to all the questions above, we suggest you contact one or more of the people listed below to get them answered. We're also happy to discuss the process with you. Just submit an inquiry at right and one of our agents can go over everything in more detail. We are here to help!

Learn your Credit Score! Visit MyFico.com to get a copy of your credit report and learn what you can do to raise your score. By pulling your own credit you may also be able to give a copy to the loan officers below to obtain a pre-qualification letter.

You can also monitor your credit score using a monthly subscription service called TrueCredit.com. This service lets you pull your credit as often as you want, and it alerts you when there's suspiscious activity on your account. It costs about $15/month. We recommend it.

(We are not affiliated with these services and don't get accept compensation for recommending them.)

Our Trusted Lending Partners

We don't get any compensation for suggesting these lenders, but we've had consistently great experiences with them and we suggest you let them give you a Good Faith Estimate (GFE) to compare to any other lenders you may have.

Patrick Collins, First Savings Mortgage Corporation
Patrick has been a successful loan officer in the Greater Washington DC area for over 11 years. He has significant experience in the various facets of mortgage lending, including first time home buyer programs, low down payment options, new construction and rehab products. Patrick is eager to share his wealth of expertise with you to facilitate your mortgage needs. Patrick also has a loan program called "The EDGE" which provides a $500 to $5000 closing cost credit. You can contact Patrick at 703.564.1756 or on his cell phone at 703.282.5982 or PCollins@fsavings.com.

You can also listen to an audio interview with Patrick here:
Peirce Cook, Wachovia
Peirce is a top Wachovia lender, and his response times are phenomenal. He's available anytime (including weekends or evenings) on his work number at 301-907-2067, or on his cell at 301-919-0030. You can also email him at Peirce.Cook@Wachovia.com.

Peirce works alongside Brian Martucci. You can listen to an audio interview with Brian here:
Shap Bashar, Bank of America
Shap Bashar - Bank Of America Shap is one of Bank of America's top loan officers. He's been awarded the Platinum Club (Top 5% annually) since 1998 and in 2006 was ranked #3 nationally for Bank of America. He's been originating loans since 1988 and is available 24/7 via e-mail/Blackberry. Bank of America also participates in a loan program we really like called the ACORN program. If you don't currently own a home, it might be a great program for you. Contact Shap directly at 202 624-4005 or e-mail Shapur.A.Bashar@bankofamerica.com.
Jacy Everling, The Mike Farrell Team, Countrywide Home Loans
Jacy is a lender on the Mike Farrell team with Countrywide. She works closely with financial planners and tax advisors to make sure she is putting her clients in a mortgage plan that makes sense. She is a valuable resource on changes and trends in the mortgage market. You can call Jacy at 703-779-7015 (w) or 703-477-5388 (cell), or email her at Jacy_Everling@Countrywide.com .

You can also listen to an audio interview with Mike Farrell here:

ATTN Military service members: If you are in the armed forces and already a member of USAA, we strongly suggest you contact them. If you are in the Navy or a member of the Navy Federal Credit Union, you should contact them as well. Both these institutions have great loan programs, but they are only available to military and family of military members.