homebuyers: Bank Statements: What Lenders Want To See - 07/19/18 03:22 PM
Buying a home? Here's what your lender is going to need to see first.
 
PROOF AND SOURCES OF INCOME
No one is going to loan you hundreds of thousands of dollars without first being certain that you have the means to repay it. That is why lenders are always going to ask to see your sources of income and proof that you have been making that money for as long as you say you have.
This may consist of pay stubs, bank statements, and even employer verification to be certain your reported income is accurate.
 
LARGE OR UNTRACEABLE DEPOSITS
Did someone just gift you $5,000? If … (0 comments)

homebuyers: Top 5 Home Buyer Myths Debunked - 06/13/18 03:10 PM
Which of these misconceptions have you believed in?
Most people walk into the home buying process full of excitement and, by the time closing rolls around, they're exhausted and just ready to plop down relieved into their new home. If you walk in with realistic expectations, though, you can make the process a lot more enjoyable and comfortable.
 
In this article, we'll bust 5 common home buying myths.
 
#1 You’ll Find A House That Meets All Of Your Expectations
 
Don’t expect to get everything on your wish list. Instead, focus on what features are most important to you. It's best to make a two-part list … (0 comments)

homebuyers: How to shop for a used home - 06/13/18 12:35 PM
Most borrowers are looking at preowned homes. Even if new buildings are popular in your area, lot size, location, and price can all lead you to choosing a preowned home instead. But what should you be looking for? Here are some tips to help you through the process.
 
#1 Windshield Shop To Target Home-Buying Efforts BEFORE Talking To A Real Estate Agent
 
Apps like Zillow and Redfin will probably become your new best friend! These will help you see the latest listings in your area and filter by size, location, and price point. Do a drive-by of the homes you are interested in … (1 comments)

homebuyers: Before You Marry & Buy A House, Make These 4 Moves With Your Partner - 06/13/18 11:54 AM
If you are looking to get married and buy a home, you are probably fluttering with excitement. However, these are all very big steps to take in your relationship and in your life, which is why it is worth both of you taking some time to review your financial wellness and stability to ensure you have a happy and prosperous life together.
 
#1 Take A Financial Wellness Assessment Individually
You should know where you personally stand financially before sharing that information with others. This means looking at your own income, expenditures, and how those things may change when you get married. Think about … (2 comments)

homebuyers: 5 tips on successfully buying a home in a seller’s market - 05/18/18 12:42 PM
In many neighborhoods, it's a seller's market. This means prices are high and demand is even higher, so what can you do to score a nice home without overpaying for it?
 
#1 Know What You Want
Houses sell fast in a seller's market, which is why you need to be very clear on what you want in your home. Not only will this make life easier for your real estate agent, it will also enable you to narrow your search down to houses that really fit your needs. When you find a house you really like, check it against your list of must-haves … (2 comments)

homebuyers: 5 credit boosting hacks before buying a home - 04/25/18 04:38 PM
Are you looking to buy a home? The process can be very exciting but also tremendously stressful all at once, and it leaves many home buyers feeling as though they're being spun in circles. In this quick article, we'll give some advice that will help make things much easier for you when it comes to purchasing a home.
 
#1 Get your free credit score
There are many services today, like Credit Karma, that will give you a general overview of your credit picture to help you begin determining what sort of interest rate you may qualify for. Generally, the higher the better. Some … (2 comments)

homebuyers: How is a conditional approval different from a preapproval? - 04/25/18 04:36 PM
When attempting to purchase a home, there is no doubt that you are going to spend some time researching the many terms being tossed around to try and get a better grasp on what exactly all the jargon means for you. One of the most important parts of the borrowing process is being preapproved or prequalified for a home loan. These two terms in themselves are often confused, but there's yet another term that's thrown into the mix that can add to the confusion: conditional approval.
 
When you are prequalified for a home loan, that means that some information available to lenders … (1 comments)

homebuyers: 5 loans to consider when purchasing your first home [Beginner’s Guide] - 03/09/18 01:37 PM
Purchasing your first home can be super exciting, but once you begin getting into the legal side of things, you may find yourself getting discouraged because there is simply so much information out there. This guide will help you narrow it down so you can focus on what really matters to first-time homebuyers like yourself. As a first-time homebuyer, there are five primary types of loans available to you.
 
FHA Loans
An FHA loan is a loan backed by the Federal Housing Administration. As a government-backed loan, lenders are more likely to approve you because, in the case that you default, the FHA … (0 comments)

homebuyers: 10 tips for home buyers: Things you should know BEFORE house hunting - 02/13/18 12:31 PM
Owning your first home, especially when house hunting in Princeton, Texas, is an enticing adventure that brings to mind comfort and stability. But, the road to get there can be very daunting and stressful. In the midst of all the house-hunting excitement, it's important you keep your mind focused on your budget, your needs, and what you really want.
Your real estate agent is likely going to show you countless beautiful homes that have all the bells and whistles, but if it's across town from where you want to be or has a twice as long commute to your job, is it … (2 comments)

homebuyers: 6 Tips for First-Time Home Buyers Ready to Make an Offer - 02/13/18 12:21 PM
You've found the perfect house in the perfect location, and it's so close to being yours! But, before you can make an offer, there are a few tips you should keep in mind to be sure that everything goes as planned.
 
1. More or Less?
Making an offer on a home isn't always about getting a discount off the list price. Oftentimes, especially when you know other buyers are looking, you might be entering into a bidding war. If your initial offer happens to be below the asking price, the seller is likely to come back with a counter-offer that's higher. If your … (2 comments)

homebuyers: Do these 3 things if you're buying a house as an unmarried couple - 02/12/18 10:51 AM
If you and a co-signer are going into the home buying process outside of a marriage, you should consider some important factors before both of you put your names onto the paperwork.
In 2017, about 16% of first-time homebuyers were unmarried couples, a number that is continuously on the rise. But, things can change, and there are certain aspects you need to keep in mind (and at heart) when buying a home with someone who isn't your legal spouse.
 
1. Sign a prenup.
Many people don't realize that prenups apply even outside of married relationships. You and your loved one can sign a prenup … (2 comments)

homebuyers: VA Loan Limits for Collin County, TX - 01/19/18 07:45 AM
When the GI Bill of Rights was signed into law in 1944 by President Roosevelt, the VA loan program began opening doors for military veterans and their families. In the United States today, more than 25 million veterans and service personnel are eligible for financing through the VA loan program, and the program in itself is found to be very attractive for those who are eligible.
 
Who’s Eligible?
In order to be eligible for a loan through the VA program, one must be a veteran who served on active duty and was discharged (other than dishonorably) after at least 90 days of service … (0 comments)

homebuyers: Homebuyers: Fed to hike interest rates starting next week! - 12/09/16 04:56 PM
Now is the time to purchase or refinance your house!
With uncertainty on how the Presidential election will affect the economy, the Fed will move forward with increasing interest rates for the first time in 2016.
The move comes with little connection to the outcome of the wildly dramatic election that the United States faced this year and the Fed will definitely try and keep its distance from appearing to be influenced by policy. 
An increase has been expected for quite some time and Federal Reserve Chairwoman Janet Yellen does not want to make the same national politics mistake that Bank of England Governor … (1 comments)