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Showing posts from May, 2015

5 Quick, Simple Improvements for Your Home and Finances

5/27/2015

Friend:


Now that warm weather has returned to the area, it's not uncommon to see friends and neighbors working outside in their yards ... or on home improvement projects.  Spring's a great time to roll-up sleeves and add some curb appeal and value to a home.  
It's also a great time to check your credit status and spruce- up your finances. Both types of improvements are beneficial ... especially if hoping to sell your home   and become a buyer again.   
Below, you'll find links to 5 timely articles (and a bonus article) that will help you accomplish a wide range of "improvements".  I hope you enjoy reading these articles, implementing the info found within them, and reap many benefits from tackling them.
Gene

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Prioritizing Home Repairs ...

Owning a home brings a lot of pleasure - and a lot of maintenance .... 
But with a long to-do list and a short budget, how do you know which …

Top 4 Posts Regarding Down Payment Requirements

Top 4 Posts Regarding  Down Payment Requirements

 It happened again ...

"It" meaning a call from a hopeful home buyer thinking they needed a full 20% down payment to buy a home. 

First, let me correct this home buying misconception ...


You DO NOT have to have a 20% down payment to buy a home!  

Multiple options exist that can help you become a home owner with a "minimal" down payment ... or with NO down payment, in certain cases.  

I view this as a very important message and topic.  As a result, I've written on the topic of down payments more than a few times: 


What are the Requirements to Qualify for a Home Loan Today?Downpayments: Sometimes It's Good to Find Out You're WrongYou Don't Need a 20% Down Payment to Buy!It's True! Programs DO Exist for Little or NO Money Down Financing
The posts above provide info regarding down payments, but they also offer info on good options for home buyers that don't have the mythical 20% down payment figure.  



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Positives Available For Borrowers Within Today's Mortgage Process

Positives Available For Borrowers  Within Today's Mortgage Process 


Scotsman Guide - May 4, 2015

The data shows that 40 percent of the people getting loans now do not have pristine or perfect credit.”

Edward Pinto, Co-Director - American Enterprise Institute’s International Center on Housing Risk



That's a pretty high percentage ...

     As a Mortgage Lender in the Chicagoland area, I'd agree with that statement too.  

     Few of the homebuyers I speak to have what could be categorized as "perfect" or "pristine" credit.  Many have financial scenarios that need to be addressed (or explained) at some point during mortgage processing.

     We LO's must pay far more attention to detail and must request more info/explanation regarding our clients' credit issues and financial scenarios than ever before.  

     Scrutiny is at a much higher level for every aspect of the loan.  On the clients.  And on the professionals too.  Scrutiny that was not seen during the…