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What You Should Do After You Move Into a House
The First Week Install new locks. Make extra sets of keys. Buy a fire extinguisher for the kitchen and garage. Install or check the batteries in the smoke detectors. Who’s Taking Pictures? The first 6 months you will notice people taking pictures of your house. They are real estate appraisers. When you had an appraisal for your purchase, the appraiser had to take photos of similar home sales. Lenders require photos of comparable sales used in an appraisal. Now your…
Posted in Real Estate
Buying Florida Real Estate
Things to Consider Planning to move out of the area in a couple of years? If so you may be better off not buying a home now. The cost of selling a house generally falls in a range of 7% 8% of the sale price which may be more than the appreciation of the house. Check out this Rent vs. Buying web site to compare the advantages of each. Thinking about changing jobs? It might be best to wait until…
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Closing on Boca Raton Florida Real Estate
Don’t Jeopardize Your Loan Taking out a another loan, buying a car, or making large credit card charges before you close can jeopardize your loan commitment. Lenders run a second credit check prior to closing to check for new charges. Time to Close Closing at the beginning of a month, the lender will require you to “prepay” the interest on your loan from the day of closing to the end of the month. Therefore the cash you need to close…
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Buy Boca Raton Real Estate
How Much House Can You Afford? There are several ways to gauge how much you can afford to spend on a house. But, before you go house-hunting, get pre-qualified for a mortgage so you’ll know in what price range you can shop. It is not unusual for first-time buyers to be somewhat baffled about how to estimate what mortgage payment they will be able to handle each month, plus how much money they’ll need for a down payment and closing…
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Choosing a House in Boca Raton Florida
Before Looking Before you actively look at homes to buy, it’s necessary to know how much you can qualify for. Use mortgage calculators to determine how much you can buy with your down payment and closing cost money and what your monthly payments will be. Know Your Credit Worthiness Look at your credit report before you go to a lender. It is not uncommon to find problems with reports, especially if you have a common last name. To get copies…
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Top Tips Regarding Your Credit Report and Mortgage Loan
What To Do First: Obtain a copy of your credit report and check for errors. Do this prior to your lender ordering one and before mistakes are found. FICO Scores: What They are and Why They are Important Next gather all your financial data. Lenders will want to see bank account statements, paycheck stubs, W-2 forms and tax returns for the last two years, investments and proof of any other sources of income. Down Payment Sources Savings Sell a car,…
Posted in Mortgage