Hello fellow Fort Rucker Home buyers,
With home prices falling in many parts of the country, and with a large stock of unsold homes available in most areas, this could be a good time to buy a home. The Fort Rucker Real Estate area is a buyers market at this time. There are a lot of good buys out there. Homeownership can help you build wealth, reduce your taxes, and establish good credit. But there are potential downsides, including increased financial responsibilities, maintenance costs, and the possibility that the value of your home may decrease.
Working with Your Lender,
Your lender will take many things into consideration when determining if you qualify for a mortgage to buy a home. Below is a snapshot of some of the information your lender will need from you. If you have a good job, and good credit, pay your bills on time, dont have excessive debt to income ratio, you can qualify for a mortgage.
Your Finances
Your lender will want to know about your finances:
- What is your current income?
- Are you employed?
- Do you have a history of steady employment?
The lender will use this and other information, as well as the interest rate you will have to pay on your mortgage, to determine your ability to qualify for a specific mortgage and pay that mortgage over the long-term. Interest Rates are at all time lows.
Down Payment
Your lender will ask how much you have available for a down payment. In general, the larger the down payment, the more likely the lender will qualify you for a mortgage. A large down payment provides instant equity in a home and is a good indicator of successful homeownership over the long term. The lender will also outline loan fees - the up-front costs of originating, processing, and closing the loan.VA loans are also available with no money down required.
Credit History
Your lender will review your credit history - how well you've paid your debts in the past - by reviewing your credit report. The lender will consider the amount of money you owe on credit cards, car payments, student loans, and other debt. The lender will also review your ability to pay property taxes, homeowners insurance, utilities, homeowners' association fees, and other maintenance and repair fees.
Price of Home
Your lender will review the price of the home and likely require an appraisal to determine whether to approve the mortgage. The lender will be looking to see if the sale price is comparable to similar homes in the neighborhood. The Enterprise Real Estate market has a lot of well priced homes available in most every budget. You can get a lot of home for your dollar here in the wiregrass.
Escrow Accounts
Your lender will talk to you about setting up an escrow account, which is a place to set aside a portion of your monthly payment to cover annual charges for homeowner's insurance and property taxes. Escrow accounts are a good idea because they assure money will always be available for these payments.
My Fort Rucker Real Estate Websites: www.ruckerpcs.com / www.c21Rucker.com /
www.RUCKERHOMESALES.COM / www.Ruckermove.com
Are you looking for a real estate professional who knows the FORT RUCKER and Enterprise Alabama Real Estate market and can get the results you desire?
My Enterprise Alabama Real Estate Websites: www.SELLINGENTERPRISE.COM / www.C21ENTERPRISE.COM
Give me a call today, and I will immediately get to work for you.
As you move towards a possible decision on selling your home, or purchasing a new home in the Wiregrass Area, I hope you'll contact me.
My Daleville Alabama Real Estate Website: www.DALEVILLEHOMES.COM
Let me know if I can be of further help in the process.
VIRTUAL TOURS ON ALL MY LISTINGS, Ask me about Cyber Advertising.
Please forward to anyone who may be moving to Fort Rucker in the future.
Click the Link Below: http://audiopostcard-003.com/Y.asp?7189970X1166
Stay in touch, feel free to call with any questions, anytime 24/7.
Sincerely,
Karina Morgan REALTOR, ABR, GRI
CENTURY 21 Regency Realty, Inc.
(334) 477-2694
www.RuckerPCS.com
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