Mortgage

June 25, 2016

The Homebuying Process : step by step

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Ready to buy or curious about the process? Let's review your next steps.

Prepare --> Look --> Offer --> Negotiate --> Acceptance --> Escrow --> Close --> Move in!

Prepare

1. Prepare your credit

Having a good credit history will allow you better options when selecting a mortgage and also save you money in the long ...

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June 8, 2016

Homebuying 101 for Independent Contractors

homebuying 101 for independent contractors

Are you a freelance independent contractor? Do you get paid with 1099s? Scared to apply for a loan? While slightly trickier, you still have a great chance at your dream home.

You will need to submit the following for pre-approval:

  • Two months of bank statements from all accounts (personal and ...
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May 13, 2016

What are closing costs - how much do I need to save up?

The are two types of closing costs: recurring and Non-recurring closing costs. Samira, why do I care about the details? You need to care because this could mean the difference between you being able to close or not having enough money to close. You will receive an estimate of what ...

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April 18, 2016

What is an appraisal and why is an appraisal so important?

Whether you are buying or selling a home, the appraisal may be one of those things that can make or break a deal. We've see homes fall out of escrow when the appraisal came in too low.

The bank wants to make sure they get their money back should ...

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March 21, 2016

How to prepare your credit to buy a house

Interested in buying a house but worried about your credit? It's easier than you think to prepare your credit rating. I'll demystify how to prepare your credit to buy that dream house.

3 Steps to Prepare your credit to apply for a home loan

1. Order your credit ...

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March 6, 2016

How much to save up to buy a house

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Figure out how much to save up for a house

Interested in buying a house but a little intimidated by how much to save up and how much you can afford? It's easier than you think, so I'll demystify the steps. Plan ahead and you won't be ...

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Nov. 17, 2015

REO - Real Estate Owned Properties (aka Foreclosed homes)

HOW_TO_BUY_A_FORECLOSED_HOUSE
 

REO stands for Real Estate Owned and refers to properties that have been foreclosed on, and currently for sale by the bank. They can generally be a good value, since they may be somewhat in disrepair. Sometimes this means they just need cosmetic work, sometimes they need more work ...

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Posted in FHA, Mortgage
Oct. 28, 2015

How the bank paid for our renovation : FHA 203K Rehab loan

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I admit that the title is a little misleading! *wink* The cost of the renovation was actually rolled into our mortgage, so we did in fact pay for it ourselves. Despite being a real estate buff since I was very little, I was not aware that these types of loans ...

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Posted in FHA, Mortgage, Renovation