Getting the best Financing
As a home buyer your primary goal is to find the perfect home! However, another important goal you should have is to find the lowest payment and best mortgage for your new home! With my extensive expereience in the real estate market of North Orange County, including Anaheim Hills, Villa Park, and Orange, I have made relationships with many mortgage brokers and have the information needed to find the best possible deal for you!
The normal mortgage for working families-Even if you have a regular job with a regular icome there are still special differences between your mortgage needs and others. I will work with mortgage lenders and brokers to find the one that will treat you the best!
The self-employed borrower-Ever since the housing crisis of 2007 it has been terribly hard for business owners and self-employed workers to get a mortgage. All of the documentation of your income and expenses is incredibly important and I am on top of all of it! I will help you to get the sources you need for a great mortgage as a sel-employed home buyer.
Less than stellar credit-These days it is very easy to get a ding on your credit, and with lenders becoming more and more tough in today's financial environment, this is a problem. Missing a payment or being late aren't the only ways to get marked down on your credit score anymore. Now they look at your amount and ratio of debt as well as the different types of debts you have. With my experience in North Orange County including Anaheim Hills, Villa Park, and Orange, I have the connections and the information to find you the best mortgage lenders and brokers for your financial situation, regardless of your credit!
ARMs and when they're important-Adjustable rate mortgages are best when your plan is to own a home for 5-7 years or less. Since the lender has their money tied up for a smaller amount of time, the interest rates will be lower which will greatly benefit you by reducing your monthly payment sometimes by hundreds of dollars. These kinds of mortgages are also good for helping you to qualify for a larger home! However you need to be careful because once the fixed interest rate period is over the rates can escalate. I will work with you to determine if this is the right option for you or not.
Financial disclosure and deal-to-closing considerations-Lenders are scrutinizing financial, income and expense information more closely than ever. You will need to be prepared to provide a lot of documentation, especially anything that might affect your ability to pay a mortgage. It is important you are up-front and honest with this information, it will make the whole process run smoothly.It is highly recommended that you don't add any credit cards or aquire any additional debt while going through the mortgage process because a lot of lenders will run another check on your credit before the contract is closed.
Watch the fees and question them-With your money being in question it is important you speak up and make sure you understand all fees given to you including how much they are, how they were calculated, and why they were charged. Going through the process of getting a mortgage often requires a lot of fees, so make sure to ask the questions you need to and i will be there to help explain everything to you and ensure you are never left out of the loop!