credit: Credit Scores - Know Yours! - 07/30/19 12:39 PM
Don't be one of the many buyers that are unsure of their standing in the credit department! Not knowing could lead to an agreement to pay a higher interest rate. Knowing your credit score could help you get the best interest rate available.
Most of those who believe their credit score is excellent are often correct. Many who are unsure of their score, are often surprised to find out that their credit actually is great or excellent. According to Experian.com, a score above 670 is considered good and a score above 740 is very good. To be considered exceptional, your credit score should be … (0 comments)

credit: Is Buying a Home in 2012 within Your Means? - 01/19/12 08:29 AM
Homebuyer Representation, Inc. offers a free consultation to home buyers.
What does it mean to consult an Exclusive Buyer's Agent? A consultation is a one-time meeting to get any of your real estate questions answered and to find out what it would take to buy a home. The meeting can be in person or over the phone.
It doesn't mean that you have to hire the agent to represent you, or even hire an agent at all.
You should come away from the consultation with enough information to answer these questions:
Does it make sense to buy vs. rent? Is what … (1 comments)

credit: Mortgage Loan with a 500 Credit Score? It's Possible! - 01/18/11 02:49 PM
According to a number of Wells Fargo Home Mortgage originators, Wells Fargo will now allow an FHA borrower to get a mortgage with a credit score of less than 600.
In exchange for a larger down payment and a lower overall debt load (lower Debt-To-Income ratios), Wells Fargo Home Mortgage currently allows borrowers to take out an FHA loan on a purchase transaction with a minimum credit score as low as 500.
Here are the details as I understand them:
The credit policy change was posted to Wells Fargo Home Mortgage originators on January 14, 2011 and takes effect for purchase transactions … (10 comments)

credit: The New Good Faith Estimate (GFE) Form, Page 2 Section A - 11/11/09 05:24 PM
Page 2 of the new Good Faith Estimate (GFE) will look significantly different from Good Faith Estimates of the past.
Section A has 2 parts.
Item 1 is the origination charge, or what the lender is charging you for the loan. This number includes ALL lender fees, combined into one figure. These fees include all the items one used to see listed on Good Fath Estimates as separate line items under such names as:
Application Fee Origination Fee Processing Fee Underwriting Fee Document Preparation Fee Administration Fee Wire Transfer Fee etc. It may also will include any Yield Spread Premium … (0 comments)

credit: How to "Shop" Loans and Lenders Part 1 of 7 (How to Shop Mortgage Loan Series) - 08/01/09 08:48 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (6 comments)

credit: How to "Shop" Loans and Lenders Part 2 of 7 (Same Day - Same Time) - 08/01/09 08:46 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

credit: How to "Shop" Loans and Lenders Part 3 of 7 (Same Facts) - 08/01/09 08:45 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

credit: How to "Shop" Loans and Lenders Part 4 of 7 (TOTAL Cost) - 08/01/09 08:43 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

credit: How to "Shop" Loans and Lenders Part 5 of 7 (Friend/Special Deal) - 08/01/09 08:39 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

credit: How to "Shop" Loans and Lenders Part 6 of 7 (References) - 08/01/09 08:38 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

credit: How to "Shop" Loans and Lenders Part 7 of 7 (Extras/Additional Information) - 08/01/09 08:36 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

credit: How is Earnest Money Applied at Closing? - 04/08/09 04:35 AM
Earnest Money is applied as a credit to you at Settlement.
The settlement sheet is basically a balance sheet. The money you owe is on the top of your side (purchase price, closing costs, your portion of property taxes, etc.) All the money paid on your behalf (loan proceeds, earnest money, the seller's portion of property taxes, etc.) is on the bottom of your side and is a credit to you. The difference between what you owe and what you have paid (including the Earnest Money) is what you have to bring in to closing (or what is refunded to you … (0 comments)

credit: Key Details of the $8,000 Federal Tax Credit for Salt Lake City, Utah Area Homebuyers - 02/19/09 05:18 AM
Key Details of the $8,000 Federal Tax Credit for Utah Homebuyers
Buy a home between January 1, 2009 and December 1, 2009. Get $8,000 Federal Tax Credit when you file your 2009 Tax Return (or sooner, see below). This does not have to be repaid. (UNLESS: You sell the home within 3 years) If you and your spouse make a combined income of less than $150,000 annually (or if you are single and make less than $75,000 annually), you qualify for the full $8,000 tax credit. If you make more than that, you may qualify for a partial tax credit. You … (9 comments)

credit: What You May Not Hear About The Housing And Economic Recovery Act of 2008 - 07/30/08 11:47 AM
The Housing and Economic Recovery Act of 2008 was signed today and that could mean you or someone you know may qualify for up to a $7,500 Refundable Tax Credit.
But...
Be Informed
There are some strings attached to this tax credit that you may not be aware of:
(Click here for A simple overview of how the $7,500 Refundable Tax Credit for first time homebuyers works)
1. First, the biggie: You may have to pay this tax credit back!
I can hear you saying, "What!?"
Let me explain:
Think of the Refundable Tax Credit as a 0% loan from the … (3 comments)

credit: The Housing and Economic Recovery Act of 2008 - How First Time Home Buyers can get a $7,500 Refundable Tax Credit - 07/30/08 11:44 AM
The Housing and Economic Recovery Act of 2008 was signed today and that could mean you or someone you know may qualify for up to a $7,500 Refundable Tax Credit.
A simple overview of how it works
You are eligible if:
You are a first time home buyer (meaning neither you nor your spouse has owned a principal residence (home, townhouse, condo, etc.) in the last 3 years.
You purchase(d) a home "on or after April 9, 2008, and before July 1, 2009".
Your Modified Adjusted Gross Income is less than $150,000 (for married taxpayers) or less than $75,000 (for single … (0 comments)

credit: Home Buyers - Estimate Your Credit Score! - 03/26/08 05:03 PM
I came across this while reading an article today about financing and the state of the real estate market. I thought I would check it out (since it's free, right?) and see how accurate it could guess my credit score.
Well, I have to say, it was pretty accurate! Obviously this isn't a substitute for the real thing, but if you are a Buyer, you could use this to give a pretty close to accurate estimate to an agent or a lender when they ask you how your credit is.
If you know your score, click through, give it a shot and … (4 comments)

credit: Your Credit Might Not Be As Bad As You Think - 05/14/07 05:00 AM
Many buyers in the Salt Lake City, Utah area have been unsure of their standing in the credit department. This has led them to agree to pay a higher interest rate, convinced that they should, when in reality, their credit may not have been low enough to merit the higher rate. 
Those who believe their credit score is excellent are often correct.
Many who are unsure are often surprised to find out that their credit actually is still great or excellent.
Some don't understand how scores are calculated or they may have had a late payment or two a while back. This usually isn't … (1 comments)

credit: Why Loan Pre-Qualification Isn't Good Enough - 05/08/07 09:59 AM
Utah Homebuyers should be Pre-Approved BEFORE they make an offer.We strongly recommend that all our clients get Pre-Approved for a mortgage so they know in advance exactly how much you can afford and that their loan will go through. It also adds credibility and strength to their offer and is a powerful card in negotiations.
Not Pre-Qualified, PRE-APPROVED.
Pre-Qualified only means that the Buyer knows what the price of the home is and what the payments would be. This does not mean that a Lender is willing to lend them that much money to buy a home. Lenders have guidelines they need … (1 comments)

 
Benjamin Clark, Buyer's Agent - Certified Negotiation Expert (Homebuyer Representation, Inc.) Rainmaker large

Benjamin Clark

Buyer's Agent - Certified Negotiation Expert

Salt Lake City, UT

More about me…

Homebuyer Representation, Inc.

Address: PO Box 701481, SLC, UT, 84170-1481

Office: (801) 969-8989

Mobile: (801) 999-8889

Email Me

Insights and information from Salt Lake City's only Exclusive Buyer Brokerage (Exclusive Buyers Agents work for BUYERS ONLY!) Find out why you should always make sure you get an Agent on YOUR side of the transaction when buying a home!Finally! Real Estate Agents on the Buyer's Side™
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