Is this you?

“I’m so confused by the mortgage loan process… 

I JUST HATE IT!”

If your answer is yes, then this blog series is for you…

“The Mortgage Loan Made Simple”

The first thing to do is to evaluate you own finances and budget.  There are 4 major things to think about and evaluate:

1. How much cash do you have?

• If you are short of cash don’t let that stop you.  You may qualify for a Washington State Housing Finance Commission Down Payment Assistance Program.  It entails taking a 6 hour class and working with both a qualified Lender and Real Estate Broker.  Yes we are qualified real estate brokers, contact us for more information.

• There are still a few zero down loan products worth looking into.

• You may still be able to get a loan for as little as 3.5% down.  

2. How much do you want your monthly payments to be?

• You may be surprised that your mortgage payments could be close to what you pay for rent.  Why pay someone else’s mortgage when you’re capable of paying your own? 

• For help determining payments…Use our Mortgage Calculator.

• You decide what you want to spend.  Just because you qualify doesn’t mean you need to spend it!

3. What is your credit rating?

• You will need a minimum credit rating…the number will depend on the type of loan that you get.

• If you are below the minimum there are steps you can take to rebuild your credit.  

4. Have you had a short sale or a home foreclosure?

• Many people today have been through that process.  In the last decade many good honorable people have lost a home to a Short Sale or Foreclosure.  If you are one of those people there is good news…you may be able to buy a home sooner than you think.  Don’t let it intimidate you…it is worth your while to look into it.Now it’s time to find an experienced and qualified loan officer.  

• Don’t let this stump you…we have a list of qualified lenders that you could interview. It’s important to find one that suits you.

• Get a qualification letter from that lender.

The most important thing a home buyer can do is hire the right

Real Estate Broker and the right Mortgage Loan officer. 

Of course you can call us!

The 1st in the Mortgage Loan Made Simple Series

More to come.

It’s a sellers Market.  What does that mean?  It’s the basic supply and demand principle…It means there are more buyers looking to buy houses than there are Sellers willing to Sell Houses.  Or the number of houses available to buy is much lower than the number of people wanting to buy a house.  

So you think you want to sell your home.  There are many reasons to sell a home.  But what about you personally…There are 4 major questions to ask yourself:

1. Why are you moving?

Do you want a bigger house or a smaller house?  Are you ready for a different neighborhood…why?  Do you want a better school district or do you no longer care about the school district.  Or do you just want something new and updated.  There are no wrong answers here.  It is a very personal decision that only you can make.  Don’t let anyone talk you into something that you are not ready for…and beware of people knocking on your door making offers that sound too good to be true.  Your home could be worth more than you think or more than they are offering…especially in a sellers market.

2. What are other houses in your neighborhood selling for?

This will give you an idea of what your home is worth.  In a sellers market that number can change from week to week, and neighborhood to neighborhood.  

3. Are there major problems with your house that should be fixed?  (Should you fix them or not?)

There is always something in your house that can be fixed or improved.  But, what about major things: roof, siding, foundation, water leaks, things not working?  Remember the house will have an inspection and an appraisal and will have to pass both of them to sell.  Fixing them or not fixing them will affect the value of your home.  

4. Should you use a Real Estate Broker?

If you are familiar with the market, have bought and sold real estate before and have a number that you would be happy with even if it’s not the best you could get…you could do it yourself.  A sellers Market may seem easy…but it can be a brutal process.  Everybody wants the best deal they can get.  A good Real Estate Broker keeps the brutal away from you.  In multiple offer situations they can get the most out of everyone involved and make you a lot more money with a lot less hassles.