Why is there so much paperwork mandated by lenders for a mortgage loan application when buying a home today? It seems that they need to know everything about you and require three separate sources to validate each and every entry on the application form. Buyers are being told by friends and family that the process […]
Buying – What Not To Do
Don’t make a major purchase of a vehicle. An increase to your debt ratio reduces the amount of your monthly income. Wait on that new car! Don’t change Jobs – Unless you have to. Lenders like consistency and W-2 Income. Don’t give earnest money deposits directly to the seller, ever. Good faith money goes into […]
Loan Approval
Loan Approval : borrowers need to get these documents ready before they get serious about buying a new house. 1. Copies of W2’s for the last two years If Self-employed Proved year to Date P and L statement and a complete set of returns for your business (K-1, 1120’s 1065’s, etc) 2. Copies of your […]
Pre-approval
Pre-approval is the First Step when we submit an offer for a home you love I need; the signed contract, the proof of funds for the deposit, and an approval letter from your lender. One way to prove you are serious about buying a home is to get pre-approved for a mortgage before starting your […]
Down Payments
Down Payment Types Saving money for a down payment on your first home is easier said than done. It is best to combine saving for a down payment with other financial strategies. The best one will help you clear the down payment goal without jeopardizing your finances for the long haul. Here are some options […]
Buying – Equity from your old house to a new one
Buying – Equity from your old house to the new one – To take advantage of today’s market, homeowners often move into a new home that better meets their current needs (moving to a larger home or downsizing as the kids move out. If you are one of the many who are unsure of how […]
Buying – New Home Previews
New homes are being built in Southern California. I take buyers out to look at the new homes all the time, I like it. As an agent, we bring confidence to the table about the transaction process. New home builders often play by a separate set of rules when it comes to approved lenders and […]
Buying – What to Look For in a Home Preview
When you walk into an open house I know what you really want is for your imagination to start seeing yourself in that house. If you can’t feel that somehow, we might as well leave. Notwithstanding flippers and investors or even contractors who look at a house as a blank canvas, your mission is YOUR […]
Buying – Real Estate as an Investment – Flipping
Americans were asked to rank what they considered to be the “best long-term investment.” Real estate ranked number one, which 35% of those surveyed saying it was a better long-term investment than stocks, mutual funds, gold, savings, or bonds. Fixers & Flippers We have sold a lot of homes t people who want to go […]
Buying – Building Wealth
More and more Americans are seeing their personal financial situations also improving. Instead of just getting by, many are now beginning to save and find other ways to build their net worth. One way to dramatically increase your family wealth is through the acquisition of real estate. Over a five-year period, that homeowner can build […]