Name

Name

Rachel L. Colby

Personal details

Location

Garner, NC

Web

http://www.helpfulhomebuyersphilly.com/

Short Bio

Before starting the loan process, get all your documents together. Lenders need to see them before submitting your application. They want to see W2s, bank statements, pay stubs as well as income tax returns. If you have the documents in hand, you won't have to return later with them. You should not enter into a monthly mortgage that costs you anything over 30 percent of your total income. Paying a lot because you make enough money can make problems occur later on if you were to have any financial problems. When your payments are manageable, it's much easier to keep a balanced budget. You should be aware of the taxes on the home you want to buy. Before putting your name on documents for a mortgage, it is crucial to know what property taxes will cost. Even if you believe the taxes on a property are low, the tax assessor might view things in a different way. Get the facts so you're in the know. Before signing any loan paperwork, ask for a truth in lending statement. This should include all closing costs, and any fees you will be held responsible for. There could be hidden charges that you aren't aware of. Figure out the type of home loan that you need. There are quite a few different kinds of home loans. When you know the various kinds, you can compare and contrast them so that you are sure to get the best fit for your own needs. Talk over your mortgage options with your lender. There are mortgage lenders other than banks. Find out whether any family members will help you with financing. It could be that they offer financing on a down payment. Also investigate credit unions for their rates. Make sure to explore a range of mortgage options before deciding. Before getting a home, cut down on the amount of credit cards you have. Credit cards could make it difficult to get a loan as it can make you look financially irresponsible. Have as few cards as possible. Look online for mortgage financing. It used to be the case that mortgages were only possible via retail locations, but that's all changed. Quite a few top lending companies are only accessible online. This has many advantages which include being able to make loans across many states and the ability to get the loan approved much faster.

History

Member for

7 years 11 months