Home is more than four walls and roof. Home is a door opening to you, your family, your pets, your lifestyle, your neighborhood, your community, your city. It’s all encompassing on so many levels.
National Lender Professionals Month: Proving Your Worth
Finding a good lender and understanding how that process works can be overwhelming and scary, but I’ve broken it down in 8 easy steps to guide you home!
I am not a numbers gal. I was really bad at Math—surprisingly good at Algebra though, go figure. Anyway, when people mention numbers to me, my eyes kinda glass over and I start thinking about donuts. I know you are so excited about buying a home. You’ve got your showing shoes on and your vision board in tow, but honestly the first thing you should do before even contacting an agent is finding out what your budget is going to be. Why? Well it saves both you and I time. I cannot tell you how many clients I’ve shown $400K homes to, but they could only afford at $300K house. A lender will also give you the foresight to see what those monthly payments are going to look like. So if you are making a $1,200 monthly rental payment and that’s your max, then you definitely don’t want to look at homes that will give you a $2,300 monthly payment.
Finding a good mortgage lender is more than just finding the one with the best mortgage rate. A good mortgage lender will:
Explain things clearly and will assess your financial abilities to purchase a home
They will provide you with options for different mortgages that will suit your needs
They will be responsive in their process
They will be good teammates with your Agent. If you are already working or know your Agent, they will usually have a good referral
They will be a good fit for you. You have to work closely and also be tr
Mortgages, Taxes. Insurance. All these things are tied into your loan and a lender can explain how all this works out financially. And let’s be honest here, this is a big life changing investment, you don’t want just anyone handling your loan approval. When I got into this business, I had several clients ask me questions about the listing and buying process—easy peasy, but then when buyers ask about the loan process, that was a little more challenging on my end. Here’s a little help:
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If you are thinking about buying a home, the best point of action is to start planning. Talk to a lender today and call me when you’re ready! Let’s do this!
Mortgage Loans in the Time of Corona
Trying to pay rent right now can be tough and for those landlords who hold mortgages, you may not know if you can defer payments…
I listened to this podcast today and thought it was relevant to the times. Some of you may not know how the whole mortgage system works and what is the responsibility of the Federal government regarding the payments. We are all feeling the slow grip of unemployment and how we are going to pay our rents and mortgages. I thought this podcast from Planet Money would provide some insight.