Skip to content

FTHB TIPS YOU WANT TO KNOW

May 6, 2013

  • 2012 AVERAGE HOME PRICE IN THE U.S. WAS $220,000
  • HOME PRICES AND INTEREST RATES ARE AT THEIR ALL TIME LOW
  • MANY PEOPLE ARE UNDER THE ASSUMPTION THAT THEY NEED A LARGE DOWN PAYMENT
  • THERE ARE MANY LOAN PROGRAMS AND DOWN PAYMENT ASSISTANCE PROGRAMS THAT AVAILABLE
  • DO THE RESEARCH TO SEE WHAT LOAN PROGRAMS YOU QUALIFY FOR
  • FHA RATES TEND TO BE LOWER THAN CONVENTIOAL TO MAKE UP FOR SOME OF THE COST OF THE PRIVATE MORTAGE INSURANCE PREMIUMS
  • ON JUMBO LOANS IT USUALLY COSTS YOU LESS OVERALL TO DO A FHA LOAN WITH MI THAN A CONVENTIONAL LOAN WITH MI (MAKE SURE TO ASK FOR A COMPARISON AND REVIEW THE TRUTH IN LENDING DISCLOSURE)
  • BE MODEST ON OUR 1ST HOME AND GO WITH A GREAT DEAL, CONDO, TOWNHOME OR FIXER UPPER
  • HOMES WITH MONTHLY HOA DUES CAN HAVE ADVANTAGES AND DISADVANTAGES (AVE HOA DUE IS ABOUT $250 AND USUALLY COVERS EXTERIOR INSURANCE COVERAGE, MAINTENANCE OF THE YARD FRONT OF THE UNIT, EXTERIOR MAINTENANCE SUCH AS PAINT AND ROOF)
  • IT IS BEST TO ALWAYS HAVE AT LEAST 2-4 MONTHS OF MORTGAGE PAYMENTS SAVED UP AS AN EMERGENCY FUND TO PREVENT BEING LATE ON YOUR MORTGAGE OR ANY UNEXPECTED EXPENSE
  • HAVE YOUR DOWN PAYMENT IN THE BANK FOR 2 MONTHS OR LONGER
  • PAYDOWN YOUR CREDIT CARD BALANCES AND ANY COLLECTIONS LESS THAN A YEAR OLD AT LEAST 90 DAYS BEFORE YOU APPLY FOR A LOAN
  • KNOW WHAT YOU CREDIT SCORE IS AND TRY TO IMPROVE IT THE SCORE THE BEST YOU CAN; EVERY 20 POINTS YOU GAIN COULD SAVE YOU .25% ON AVERAGE WHICH AMOUNTS TO $3-4K DOLLARS IN INTEREST SAVINGS
  • GET PRE-APPROVED WELL IN ADVANCE BEFORE YOU START YOUR HOME SEARCH

FOR A FAST PRE-APPROVAL: Complete a loan application on our website http://pmccanhelp.com/Apply_Now.html

Job Opportunities? Now is the time to see how PMC Can Help You earn what you deserve!  Visit our Website and apply online today!http://pmccanhelp.com/PMC_Careers.html

Follow our Mortgage on: http://www.facebook.com/pmccanhelp http://twitter.com/pmccanhelp http://www.linkedin.com/in/pmccanhelp

Follow our Realty on: http://www.facebook.com/pmcrealty, https://twitter.com/pmcrealty http://www.linkedin.com/

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: