for First time & seasoned pros
5 stress FREE Buyer tips
- It’s time to Boost your credit score.
- Avoid financing big-ticket items such as a shiny new car, expensive new furniture, or high end electronics.
- Don’t apply for new credit.
- All these new things can really hurt your credit score & sometimes take months to recover.
- When trying to qualify for a home, only buy the necessities with good old fashioned, hard earned cash.
- Never close any long standing credit cards as this can also take a hit to your score.
- Every credit score point counts!
- Save up for your down.
- Bonus check at work? Throw it in the bank.
- Money back from the IRS? Save it.
- Close a big deal @ work? Don’t spend it.
- Have a little extra income? Have some self-control – Keep it!
- Still having a hard time saving money? Try cutting optional/additional expenses to save more. For example, cutting out an $85 cable bill will save you $1,020 in a year. Currently, for borrowers that qualify, as little as 5% down can help you avoid paying mortgage insurance – and that can save you hundreds monthly on your payment over traditional FHA loan programs. Remember, every little bit helps you avoid higher interest rates or private mortgage insurance.
- Pay Down / Off consumer debt.
- When you carry a high balance on credit cards, it can take a massive toll on your credit score! Paying credit cards down to 30% of their credit line can give you as much as a 50 to 100 point boost in as little as 30 days.
- If needed, we can get your credit file updated rapidly to get you into your home faster.
- So when a bank is qualifying you for a mortgage, that credit card you paid off just gave you a better of a rate, helping you save more money.
- Make sure you’ve got a solid job / business – Know it beforehand
- If there is one thing a traditional bank doesn’t like, it’s instability.
- Think about it – if you were a bank that was about to lend a perfect stranger hundreds of thousands, if not millions of dollars – how would you feel about a borrower who always has new business ventures and a spotty job history? Most likely you’d be a bit uneasy.
- To a traditional lender a solid credit score and a large down does not mean guaranteed financing.
- Finding out about this early on with help reduce your stress level substantially.
- Typically they look for 2 years in the same job or business. Show them a solid business and they will be glad to lend you the money.
- But not everyone has cookie cutter employment either. If your income is a bit more sporadic there are still plenty of options.
- If you’re an Investor with a large down, then Stated Income is your friend – and yes I have it and it is a phenomenal program. Please inquire within.
- New Car or Property Ownership…Your choice – Need to know this
- Do you want the fancy, expensive new car that all your friends will see you in? Or would you rather have a nice home you can share memories with your family and build a foundation for your future?
- If you chose property ownership, great choice!
- Cars get old, immediately lose value and start breaking down the second your drive them off the lot. The opposite is true for real estate.
- When you invest in real estate, in most areas your property starts growing in value almost immediately.
- A $500 car payment can push the dream of home ownership right out the window.
- That means your fancy new car will only let you qualify for a one bedroom condo for your family of 5. So make the smart choice!
- I can run multiple scenarios to show you how to reach your real estate goals.
- This makes your life so much easier – because now you know exactly what you can afford.
- Like so many other happy clients I have – I will help you get into the home of your dreams!
Preparing to find your home
- Make a list – of the things you want in a home. Pool or no pool? 2 story or One. Be sure of what you want, but be flexible – not every home will be perfect. Decide on whats important and what you’re willing to budge on.
- Call Dan to setup an appointment – Let’s get you approved! Pre-qualifying clients since 2004 is my specialty! I know what banks want & what they don’t want, that’s the beauty of working with a broker. Talk to me first & I will find a way to help you reach your real estate goals.
- Next – Gather your financial records- Grab your bank statements, paycheck stubs & tax returns before your first meeting with me. On your first appointment, I’ll ask you some questions about your income, assets & credit history. Then, I’ll shop it with my preferred lenders and get you fully pre-approved with confidence!
- Check your email – Next either myself or a Realtor partner will send you an email with listings for all your current prospect homes. Which ones do you absolutely have to see?
- Sit back and let me do the rest!
OK. Found the Dream Home
Dan got me a Rockin’ Rate
I Got the keys
So, What’s next?
- Give your forwarding address to the post office, usually two to four weeks ahead of the move.
- Notify your credit card companies, magazine subscriptions, and bank of the change of address.
- Develop a list of friends, relatives, and business colleagues who need to be notified of the move.
- Arrange to have utilities disconnected at your old home and connected at your new one.
- Cancel the newspaper.
- Check insurance coverage for moved items. Usually movers only cover what they pack.
- Clean out appliances and prepare them for moving, if applicable.
- Note the weight of the goods you’ll have moved, since long-distance moves are usually billed according to weight. Watch for movers that use excessive padding to add weight.
- Check with your condo or co-op about restrictions on using the elevator or particular exits.
- Have a first open box with the things you’ll need most—toilet paper, soap, trash bags, scissors, hammer, screwdriver, pencils and paper, cups and plates, water, snacks, and toothpaste.