Should You Buy Or Rent?

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Should You Buy Or Rent A Home? How Home Buying Loan Process Works Call 281-348-9899. In this video we go over the steps to buying a home. The game plan to getting a home loan and buying your new home is: (1). Getting experienced and trusted professionals on your team. You do that by first picking out the best mortgage professional. How do you do that…ask around for someone who has done it recently. Look for someone that is in your area and has a good reputation. Not a bad idea to google the person to make sure they have been in the lending business for a while. If they have been in the mortgage business for a while they should have some reviews. If they do not have reviews, you may be gambling. There are way too many details on the largest purchase of your life to leave to chance. Copy and paste this link into your browser to see what Mike’s customers say about his service-… (2) Your ability to provide and produce the financial documents necessary to process your home loan application quickly will keep the loan process moving. (3) After you have provided the financial information you should get a Pre-Approval Letter. The Pre-approval letter is the start of your home buying process. It will tell you how much home you can qualify for, what your payment will be, and how much money you will need. In the current market the Pre-Approval letter is very important as many times on the most desirable homes the sellers are getting multiple offers. They will choose who gets the home many times based on the probability of consummation. The Pre-Approval letter can make a difference. Note here, is that the pre-approval letter is not a guarantee the loan will be approved. (4) The approval is a snap shot but the loan process is a living entity, and can be affected by events that happen during the process so you must keep your finances on an even keel. Do not apply for new credit during this time, do not closed credit card or bank accounts, and don’t quit your job. Do not make large purchases. (5) A experienced and trusted Realtor professional will save you time, money, and help you avoid pitfalls through out the process. (6) Once you have found the right home and negotiated the contract it’s time for the inspection. Your Realtor will provide you a list of quality inspector. After the property is inspected you may want to re-negotiate for any issues that show up on the inspection. (7) After you are satisfied that this is the home you want to purchase, it is time to order the appraisal. The appraisal is a market study of the value of the property. This keeps you from over spending on the property. (8) This is also a good time to contact your insurance agent and start getting quotes for home owner’s insurance. (9) When all of these elements are complete your file will go to the underwriter. The underwriter’s job is to make sure that everything that is required in the file is in order. If the underwriter finds something that is still needed you will help from your loan officer. (10) Once everything is cleared, you are ready for closing… Congratulations. And know this, that we will be with you through out the whole process. How Home Buying Loan Process Works is that there are many mortgage companies that can help you get a loan. The way mortgage companies work are different. You will like some and not like others. We have a reputation of taking personal care of our customers, by giving them full access, and treated like family through-out the process. You can contact Mike Durr “The Kingwood Mortgage Guy” at 281-348-9899. Kingwood Mortgage Guy 1521 Green Oak Pl. # 197 Kingwood, TX. 77339 NMLS # 318989


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