Explore These Options to Finance.
Whether you are looking to freshen up or expand your existing home or a new home you are considering purchasing, the question always comes up about how to pay for this. The answer to this question depends somewhat on how much you are talking about financing and how long you believe it will take you to repay. Let’s take them one at a time. If you are trying to renovate the home you ...
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If you are thinking about purchasing a home in the next year, the sooner you start looking, the better. Why start so soon? There are a lot of moving parts to buying a home. Getting a plan in place is the key to success.
Let’s look at all the moving parts:
– Make the decision to purchase and set an ideal time to close on a home. For example, when does your lease expire?
– Look into a mortgage pre-approval. ...
Continue Reading →In this second video entry, Scott discusses the advantages of consolidating your debt when you refinance your home.
Until Next Time!
The FMT
1.15.2019
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Oddly enough, long-term interest rates started the year just slightly higher than they were one year ago. We had a few periods during the course of last year where rates were slightly above 5% for a 30 year fixed. With the recent volatility in the stock market and analysts starting to predict a recession in the next couple of years, interest rates have come down significantly since October, when they last peaked.
We now stand in the mid ...
Rent Before You Buy – It is always a good idea to get a year or so under your belt as a tenant so you can understand some of the challenges that come with homeownership. Put yourself in the shoes of your landlord. Lenders like to see a track record of making housing payments prior to application and to get you used to making a house payment prior to owning.
Check Your Credit Report & Scores – ...
Buyers are Still out in Force – There is still very strong demand for housing, which means that you do not have to wait for the spring buying season to get ample interest. We are still seeing multiple offers frequently.
Less Sellers – Since most people believe they should wait and told spring to sell, there is less competition.
It is Still a Perfect Time to Move-Up – With rates moving down slightly over the last ...
• Get a copy of your credit report through www.MyFico.com. This will give us your true mortgage scores without a hard inquiry on your credit. You can also get a free copy of your report through someone like www.freecreditreport.com but it won’t give you the scores we use. There are 48 different FICO scoring models but only one that mortgage lenders use. No surprise, that this model is more conservative than most.
• Through an educational process, we can assist with ...
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You have a database that you use but deep down you know that it could be utilized to provide you with more referrals and long-term relationships. Use these tips to jump start your efforts.
Database Tips:
1) Make a commitment to call between two and five past clients / prospects per day to reconnect on a personal level and update their contact information. If you don’t already have it, get the day / ...
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When you apply for a mortgage on a condominium there are a whole host of additional considerations the lender must analyze. I like to think of it as two separate approval processes, the approval of your own personal loan and a secondary approval for the condominium complex itself. They take place at the exact same time but go down to separate paths. Since the approval process for the loan itself is no different than that of ...
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