Tuesday, September 2, 2014

The Highest Credit Score Possible - Porter Report



How to have the highest credit score possible: this weeks Porter Report is the first of a series on improving your credit score. Call Solano Mortgage for more information!

Saturday, August 30, 2014

3 Basic Factors to Consider When Buying a House

Buying a house has both become a dream and a necessity. It is one that is an ultimate inclusion in the bucket lists and dream lists of many individuals. One of the primary reasons being the great pride it brings. Yet, this is an endeavor where many individuals fail because they forget to consider the essential factors when buying a house.

Budget and other costs

Buying a house is an act that will involve substantial amount of money. Often times, it will involve your salary and savings. There are instances that you will have to borrow money from financing institutions in the form of loans and mortgages. It is very important to always consider your budget to make it suitable to the type of house that you will buy.

There are also other costs associated with buying a house. Processing of documents, closing costs, and the professional charges of real estate agents or brokers are just some of the additional costs you'll have to shoulder to make your dream house a reality.

Ready for occupancy

Most often, those who want to buy a house are individuals who have long been staying in rental properties like apartments. Sometimes, those have been sent in other job locations are in urgent need for a house to live in. The availability of the house or its readiness for occupancy is something that you should also consider. You would not want to have paid for the property and still wait for a month or more before you can enjoy the comfort of life it brings.

Home inspection services can help you determine if the house is in a good move-in condition. Repairs and other flaws can be determined and thus be charged against the seller rather than having them charged against you.

Extra things and services

When buying a house, you should not only consider the state of the house itself. There are outside elements too such as the lawn, the patio, the garage, and the rain gutter. These parts may require simple makeovers that are costly too. It is important to see whether these parts require utility services. Determine them properly and have the seller patch these things up before you move in.

The lawn might require some trimming while the patio might require some replacement of the bricks. The car port's roof might be screaming for some sealant action while the rain gutter may need some improvement including the replacement of guard systems. See to it that pipes, faucets, and sinks are working properly and that they are free of leaks and clogs.

These are just some of the basic factors you should consider when buying a house. Careful consideration of these factors shall award you the benefit of moving in a house that is according to your budget.

Desare Kohn-Laski is a proud and experienced Florida realtor who is knowledgeable and familiar of the East Coast Florida real estate market. Some of the areas of her service include Parkland, Fort Lauderdale, and Hallandale Beach. Stop the chase for your dream house with her professional assistance. For more information, hop on to http://www.browardhomes.org.
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Wednesday, August 27, 2014

Sunday, August 24, 2014

Take the Hassle Out of Buying a New Home

Finding the right home can be a real challenge. Between a depressed market and hidden problems, picking the right home is harder than picking the right car. While you can't make the decision easy, you can make easier. Here are a few ways you can make your home buying experience hassle free.
The Entire Home, None of the Hassle

1. The first thing everyone should do is to hire a Realtor. Whether you are moving somewhere you are familiar with or you are heading across the country, an executor is going to have more information and advice than you might realize. Using a broker won't just help you find the right home sooner (which is reason enough to use their help), but they can help you save time and money. By avoiding extra fees, helping you negotiate prices, or encouraging buyers to throw in certain perks, Representatives are invaluable. If you want to know more about them in your area, it would be a great idea to search online and follow information given to have more knowledge about the subject.

2. Set your budget before you start looking. If you spend too much money on a new shirt, you might need to avoid eating out the following weekend to save a few dollars. But if you spend too much on a home, you will either foreclose or spend the next 30 years in crippling debt working two jobs just to put food on the table. If you plan your budget before you start looking (and get approved for a loan as well), you will have a definite limit to how much you can spend. Not only will this help you avoid spending too much money but it will also reduce the time you spend looking for homes (the ones outside your budget will be immediately eliminated).

3. Research your options before you start looking. The Internet is a useful tool for quickly browsing through a number of real estate listings. You don't need to pour over every listing and agonize over every single feature, but you should get an idea of what is available. A Realtor will help you turn your abstract wants and needs into a real home. But remember, if you set your expectations unrealistically high (or low), your broker will not be able to help you. You need to know what is common in the area you are considering moving to and research is the best way to do so.

4. If you want specialized property, look in developments or communities that offer what you need as opposed to wasting time looking elsewhere. If you want luxury property designed for people with horses, for example, don't spend time looking at developments that pride themselves on their proximity to the city. Look for specialized property that will meet your needs first.

Joan Pletcher (http://www.joanpletcher.com/) is extremely dynamic - choosing to specialize in estates, training centers, ranches and major parcels of land. If you want to know more about what a property offers, find their online ad that says click here and follow it to find more information.
Article Source: http://EzineArticles.com/?expert=Bonnie_Kash

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Friday, August 22, 2014

Tim Porter and Annie Chmieleski on Refinancing



This weeks Porter Report features Tim Porter and Annie Chmieleski of Solano Mortgage, going over the possible benefits you could gain by refinancing.

Monday, August 18, 2014

Should You Try to Time the Mortgage Market?

Today, we have all the tools we need to make well-informed decisions when it comes to home purchase financing. You simply need to check the interest rates online to decide whether it is a good time to take out a mortgage loan. Many people choose to time that market in order to capture the best possible interest rate. The big question is whether this strategy is effective and how it will pay off.

How It Works

In order to time the mortgage market, you need to follow the interest rates closely. For best results, you should do it on a daily basis. You need to keep a record of the past rates so that you can identify the lowest one when it comes on offer.

In order for this strategy to work, you have to be able to make a loan application on the spot so that you do not miss out on the low rate. This means that all your paperwork must be ready and waiting to be used. Similarly, you must be armed with a good amount of patience as the rate that you are waiting for can be offered in months or not at all.

Goal

The main goal of the timing of the mortgage market is the securing of lower interest rate. It is important to note that it is different from waiting for a special deal to be offered by a particular lender. In this case, prospect home buyers are waiting for a fall in the market interest rate. Since the reaction of the different lenders varies, they will offer slightly different rates. At this point, the savvy home buyers will use comparison shopping to make the best choice.

Benefits

The main pros of this strategy are:

Saving - This is the major benefit that can get from timing the market. You can secure lower interest so the total cost of your home loan will be lower as well.

Credibility improvement - If you try to time the market, you will most likely get a sufficient amount of time to pay off some of your current debt. This will boost your credit score and lower your debt-to-income ration. These factors can eventually help you secure a lower interest rate than the market one.

Drawbacks

The cons of this strategy are:

Two-fold risk of loss - There is a possibility that the mortgage interest rates go up from their current level. In this case, you may be forced to go for a higher rate and lose money. In addition, the property prices may go up. This will make financing even more expensive given that you will have to borrow more money.

Getting a bad deal due to rushing - Often, the people who use this strategy hurry to take advantage of the lower interest without comparing carefully all loans and choosing the cheapest and most affordable for them.

Overall, if you are fully prepared to take out a mortgage loan, you should not try to time the market as the risk is too high. You can get a good deal at any time. Besides, the short-term fluctuations caused by the market are usually extremely small. If you are not ready to buy a home yet, you should use the time to improve your borrowing position and keep an eye on the market to figure out when it will be time to act.

Article Source: http://EzineArticles.com/?expert=Cedric_B_Pitts

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Friday, August 15, 2014

5 Secrets to Securing a Great Mortgage Loan

What do you need to do in order to qualify for a mortgage? The requirements have become stricter since the housing crisis from 2008, but this does not mean that you don't stand a chance. The most important thing is to be smart and disciplined when it comes to money and employment. Find out how to achieve this and to reach your ultimate goal - buying your dream home.

1. Don't make major credit moves before applying for a mortgage.

You should not get a new credit card in the six-month period before you apply for a home loan. Similarly, you should not take out personal loans for financing purchases. Such a move would be a sign to lenders that you are short of money and you need more cash. In this case, they will be less likely to grant you the funds you need for buying a house.

If you have to use more credit in order to boost your credit score, you should postpone the purchase of a home. The waiting will be worthwhile since you will eventually get approved and secure more affordable terms and conditions.

2. Keep funds where they are.

You should not use your savings in the months before applying for a mortgage. Stay away from making large purchases that will drain your savings account. It is equally important not to move major funds from one account to another. The lender may see such moves as a sign of financial instability and reject your application automatically.

3. Stick to your current job.

Lenders are more likely to approve the mortgage application of a person who has kept their job for two years than the application of someone who has changed their job several times in the same period. Again, this is because they are looking for stability. If you plan to work in another company or industry, you should make the switch well before making the application or after purchasing your home.

4. Go for a traditional property.

You have to keep in mind that the lender considers all possible risks before granting you a loan. If you plan to buy a single family home with two stories or in ranch style, you are more likely to get approved for financing. This is simply because in case you default on the loan, the lender will be able to sell such property easily and avoid loss. If you plan to buy a house with sliding glass walls or a condo in a building which uses only green energy, you will have lower chances of securing a loan. This is because the future demand for such properties is hard to predict.

5. Use additional funding sources.

The larger your planned down payment is the more likely you are to get approved for a mortgage. Furthermore, the loan will be cheaper as well. Hence, it makes sense to use additional sources of funding. Your parents may be able to help you with some cash, for instance. You can also consider selling any assets that are of high value. These are just some general ideas, but it is important to give them and other possible options a thought.

If you follow these tips, you will have much higher chances of getting a mortgage which matches your requirements and budget perfectly.

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