20 Jun , 2016
Even once you are well into the home buying game, the word mortgage can be a frightening one. You wonder what it really holds for you and your home buying experience. But it is not nearly as frightening as it sounds. A mortgage is actually a great opportunity for you to get into the house of your dreams. And if you think that a mortgage is impossible for you because of financial barriers, think again! You have options.
There is no need to fear that large amount that 20% down would be. There are mortgage programs that have as little as 3-4% down with a credit score of 580! It is easy to back off from the idea entirely when you see 20% but don’t stop exploring your options!
While we’re on the subject of credit, you’d be happy to know that mark on you credit report doesn’t necessarily kill your chances of getting a home loan. A foreclosure or bankruptcy can stay on your credit report for up to seven to 10 years, and it’ll take time to rebuild your credit score after a major ding. However, you don’t have to wait until a negative item falls off your credit report to qualify for a mortgage. It is possible to qualify for a mortgage three years after a foreclosure, and two to four years after a bankruptcy. Even if you’re in the process of rebuilding your credit score, the lender will qualify you based on your credit activity over the past 12 months.
Mortgage lenders offer a variety of programs to help buyers qualify for a home loan. Some borrowers worry about the upfront costs of getting a mortgage, and many assume they don’t have enough in reserves to purchase a property. But while getting a mortgage involves down payments and closing costs, assistance is available to help you realize your goal of ownership.
Keep your options open by working with a program to find the best choice for your specific situation. Where are you getting all of your mortgage information resources? There are wonderful sites to help you navigate the mortgage market for you and help you get into your new home!
23 Apr , 2016
“Hello Agent,” gesture to well-dressed individual with brief case to sit in your selling-room, “I’m ready to sell my home. Can you help me?”
“Yes,” smiles the smug Real Estate Agent who knows not much about your community, hasn’t ever sold a home in your neighborhood and makes the buyer the priority; personal preference.
ERRRRRRT. Stop. Ask the right questions.
“Hello Mr. ___. Please sit down. Have you been working in this community long?….” Your confident self says, radiating your worth!
“No…but I’d love to!” says the dud agent. Not good enough for me! I’m managing my needs! Next!
There’s a lot of agents out there to help you sell your home. It’s not too hard to find one, but finding the right one is another question. Settling for the wrong agent is too easy.
It’s like you’ve got to be the home-owner, soon-to-be-home-buyer, full-time-something, mother-sister-daughter-friend…CEO, basically! Hope you have a huge hat rack because life asks you to take on a lot of roles, successfully at that.
Let’s take a millennial home buyer. They are going to have some odd set of needs on their docket. Perhaps:
Be your own CEO, what do you want for your company?
Write out the questions that fit your desires and needs – think ahead! – you’ll pull farther forward. Totally lost? Sort of lost? Would like help in the journey of unknown territory: exchanging your territory for better territory….
Okay, CEO, here’s some home selling mistakes to avoid.
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