Sumner, Robertson County TN Real Estate

Residential Properties

Real Estate Tips Step 6: Get Funding

Step 6:  Get Funding

Often the cost of real estate financing is routinely greater than the original purchase price of a home (after including interest and closing costs).  Because financing is so important, buyers should have as much information regarding mortgage options and costs.

What kind of loan?
There are thousands of loans available out there from a variety of lenders, but in general, the mortgage you choose will likely be determined by at least several key factors:
  • How much down?  Loans with 5 percent down or less are available.
  • How’s your credit?  The best rates and terms are only available to those with solid credit.  To get the best loans, make a point of paying credit cards, installment payments, rent and mortgage bills in full and on time.
  • Are you a first-time buyer?  State-backed first-timer programs often feature smaller down payments and below-market interest rates.
How do you get a loan?
To obtain a loan you must complete a written loan application and provide supporting documentation.  Specific documents include recent pay stubs, rental checks and tax returns for the past two or three years if you are self-employed.  During the prequalification procedure, the loan officer will describe the type of paperwork required.
Where do you get a loan?
Mortgage financing can be obtained from mortgage bankers, mortgage brokers, savings and loan associations, mutual savings banks, commercial banks, credit unions, and insurance companies.

Often the cost of real estate financing is routinely greater than the original purchase price of a home (after including interest and closing costs). Because financing is so important, buyers should have as much information regarding mortgage options and costs.

What kind of loan?

There are thousands of loans available out there from a variety of lenders, but in general, the mortgage you choose will likely be determined by at least several key factors:

  • How much down?  Loans with 5 percent down or less are available.
  • How’s your credit?  The best rates and terms are only available to those with solid credit.  To get the best loans, make a point of paying credit cards, installment payments, rent and mortgage bills in full and on time.
  • Are you a first-time buyer?  State-backed first-timer programs often feature smaller down payments and below-market interest rates.

How do you get a loan?

To obtain a loan you must complete a written loan application and provide supporting documentation.  Specific documents include recent pay stubs, rental checks and tax returns for the past two or three years if you are self-employed. During the prequalification procedure, the loan officer will describe the type of paperwork required.

Where do you get a loan?

Mortgage financing can be obtained from mortgage bankers, mortgage brokers, savings and loan associations, mutual savings banks, commercial banks, credit unions, and insurance companies.

How are you going about your real estate search?  Visit my website today!  There you will find the premier website to search for properties in the middle Tennesse area.  No obligation and this service is FREE.  Who do you know that is having trouble selling their home?  Please pass my information on to them!

Search White House TN Properties Search Hendersonville TN Properties

*Information obtained from Realtor.com believed to be accurate but not guaranteed.

    Contact ME!
 
EXiT Real Estate Solutions/103 Hazel Path Ct, Suite 2/Hendersonville, TN 37075
(615)826-0001
White House TN Real Estate – Tina Redding (615) 268-5985
 
Buying or selling a home is one of those major occurrences in life that can be a very trying experience if you don’t have the right partner to help you through the process. This is where I can help. I strive to put my clients first with service as a mainstay in a very competitive market. Start your home search today in White House, TN.
 
Each office independently owned & operated.
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Information

This entry was posted on December 12, 2012 by in Buyer Information and tagged , .

Blog Stats

  • 7,971 hits

Contact Information

EXIT Real Estate Solutions/Tina Redding, Affiliate Broker/Mobile (615)268-5985/Office (615)826-0001/Each Office Independently Owned & Operated
%d bloggers like this: