Call David or Erika Bailey at The Mortgage Outlet 631-589-3600
This is the biggest decision you will ever make being a First Time Home Buyer in Sayville NY can be very confusing. Hopefully this article will help clarify the process and help you make the right decision.
1) What is a Mortgage?
A mortgage is loan given by a creditor (lender) to a debtor (borrower) to purchase a personal real estate also known as a Home A creditor will lend a debtor money to purchase real estate. The creditor will require documents that … (0 comments)
# 1 Arrange Documents It is important that you gather the following items in to a central location and keep updating the data on a monthly basis Last 2 years for tax returns or 1040’s with all schedules Last 2 years W-2’s Last 30 Days Pay stubs Last 2 Months Bank statements all pages Last 2 Months Investment statements all pages Last 2 Months Retirement statements all pages Driver’s License Last 12 month’s rental payments if pay by check #2 Understand Your Credit … (0 comments)
This is the biggest decision that a borrower will ever make in their life when looking for a mortgage in Sayville New York. The debate has been going on for decades use a Mortgage Broker or my local Retail Bank. The negative press that mortgage brokers received after the financial crisis in 2008 still sticks with many of today’s borrowers who believe it is safer to work with their local retail bank. But the newly created Consumer Financial Protection Bureau (aka CFPB) in 2010 has set standards so high for mortgage brokers and so … (0 comments)
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