I wanted to go over the number one benefit of working with a mortgage broker like myself, and that's that we'll only have to do one credit check and I can look at various lenders and their terms. Instead of you having to go to a bunch of lenders and banks and have your credit ran multiple times, I only have to do it once. I can also do a soft credit check and check out your credit and give you the , estimated payments and everything like that. So if you guys have any questions, please feel free to let me know.
Don’t Forget About Closing Costs When Buying a Home.
If you’re planning to buy a home, make sure you budget for closing costs. These can vary depending on where you’re buying, local taxes, and even the day of the month you close.
Some common closing costs include:
Underwriting or lender fees
Title insurance
Recording and tax fees
Prepaid insurance, taxes, and interest
Escrow for insurance and taxes (if you’re escrowing)
Attorney fees, depending on your location
If you have any questions about what to expect, feel free to reach out. Have a great week!
If you're in the market right now to buy a home and you're getting pre-approved, the lender's going to look at something called your debt-to-income ratio, and this is basically your total debt over your gross income. So they're going to look at your monthly liabilities, like if you have student loan debt, if you have car payments, other installment debts, minimum credit card payments, and also the expected housing payment of the home you're looking to purchase. This will all be accounted for in your total debt, and they'll put that over your gross income to see what you qualify for. So if you have any questions, just feel free to reach out. Have a great week.
There are a few reasons why refinancing your property may make sense, aside from reducing your interest rate, uh, such as consolidating any high-interest debt you have, like credit cards or a private installment loan. Also, you may be able to reduce your mortgage insurance or get rid of your mortgage insurance. So these are just a few ways, refinancing can benefit you. So , give me a call if you have any questions.
If you're looking to get pre-approved right now to buy a home and you have a car loan or another type of installment debt, we can actually omit that payment and increase your buying power if you have ten months or less of installments left on that loan and we're going with a conventional product. So if you guys have questions, feel free to reach out to me, and have a great day.