Wednesday, June 24, 2009

Planning to buy a home? Here are 6 easy steps to purchase your dream home.

Most Americans do not pay cash for their largest investment, a Home. Plan today for your future. If you don’t someone else will.

STOP going to those back room, cousin and brother-in-law deals that sound too good to be true. Remember, if it sounds too good to be true it most likely is. I sat with a couple in the conference room yesterday who had given a man$ 5,000 for their down payment only to learn he was not the owner, they lost $5000!

First step on how to get a great mortgage is to call a Centurion Mortgage Company loan officer at one of CENTURY 21 Judge Fite offices. I personally refinanced 20 mortgages with Centurion Mortgage 6 years ago and they took care of me throughout the entire process. My interest was protected from beginning to closing.

Second step is to pay for them to run your credit from the same three credit agencies that will be used to qualify you for the loan. Once the loan officer views your credit that will allow them to identify any challenges that exist. Never lose sight that Real Estate Builds Wealth. Have the Loan officer go over with you any derogatory issues that may exist and write down a plan to clear them up.

Step three - begin with the smaller balances and work up to the larger ones. When you clean up issues on your credit the end result is you get a cheaper interest rate which affects the monthly payment for the next 15 to 30 years. Allow the loan officer to explain the different types of loans available to you and which one fits your financial situation. The loan officer will identify how much you need for a down payment and closing costs ahead of time, avoiding those last minute emergencies of trying to locate additional monies for closing. Plan ahead is always the best and cheapest approach to buying big ticket items.

Step four , organize your financial information and identify all of your recurring expenses, car loans, credit cards, existing mortgage loans, child support, gym memberships, etc.

Step five, identify your gross income including child support if you are the recipient. Have check stubs for the present and previous pay periods. If you are gaining financing through a traditional bank you will need to follow the same procedures. If you are going through a bank it is better to have established a relationship a year or two in advance of needing a loan. Shop Bank rates as you would have the Centurion Loan officer do for you on their loans.

Step six, once you receive a letter of pre-approval from a reputable mortgage company, you can now move forward and select a Professional Realtor at CENTURY 21 Judge Fite Company (the number 2 CENTURY 21 Agency in the World) to assist you in finding the right home for you and your family. Judge Fite himself said it well “Begin the rest is easy”. You are in charge of your future wealth, do not leave it up to fate or you will go homeless and hungry. Take action today to change your future for the better.

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