Mar 26, 2015

Buying a home

over the past few weeks we have concentrated on the selling of your home, now lets dive into how to buy and get the most out of your dollar. The first thing is who are you working with: - have they had you talk with a reputable lender? a good lender will be able to explain all of the different options out there: conventional, FHA, VA, USDA, Bonds, etc, and not all lenders have access to all programs. - a good lender will NOT automatically run your credit - most people don't know that every time you have your credit pulled you lose a few points, some lenders actually sell your name and info to affiliate lenders who then pull your credit and so if 10 places are bidding for your business you could lost 50+ points from your score and now days everything is credit score driven from rate on your mortgage to insurance rates etc. - does the lender your agent suggested charge junk fees? does the lender deliver on the rate and fees they quote, do they close on time, have they been in business long enough to spot potential pitfalls, all lenders have to have tax returns, debts etc. so if a lender tells you hey we don't need that right now they may not be giving you an accurate picture of your borrowing situation. -does your lender have a good reputation so that when your offer is presented on a house and your pre-qualification is presented with it will they other agent have faith in it? Lender is the next step after finding a good agent because they will be able to tell you what you qualify for and you will be surprised the lenders are very conservative now days but you will still qualify depending on the program. remember these tips are to help you pick an agent keep watching for more tips, or you can save time and contact the sold team!!!

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