First Time Buyer

Your First Step Toward Buying a Home

When preparing to buy a Home, the first thing many Home buyers do is look at "homes for sale" ads in newspapers, magazines and listings on the internet. Some potential buyers read "how-to" articles like this one. The next thing you should do - before you call on an ad, before you talk to a Realtor, before you shop for interest rates - is look at your savings.

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Documenting Your Assets - Verifying Your Down Payment

When buying a home, it is not enough to just "come up" with the money. With the exception of "no asset verification" loans, lenders want to verify where the money comes from. If you can document the funds comes from your personal savings, the lender is more confident of your strength as a borrower.

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Applying for a Loan - Items You Need

It used to be that lenders mailed out verifications to employers, banks, mortgage companies, and so on, in order to verify the data supplied by borrowers. Nowadays, the interest is often in speed and getting answers quickly, so "alternate documentation" has become more widely used. Alternate documentation means that underwriting answers can be obtained with information supplied directly from the borrower instead of waiting around for verifications to come back in the mail.

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FICO Score & Mortgage Loans

When you apply for a mortgage loan, you expect your lender to pull a credit report and look at whether you've made your payments on time. What you may not expect is that they seem to be more interested in your "FICO" score.

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Mulleady's Home Buying Tips

When you buy a home consider these guidelines which can help to make the experience a good one. It is an exciting adventure with the destination of pleasure and we are thrilled to help you reach that destination with optimal success.

  • Choose a Buyer's Agent
  • Avoid Major Credit Purchases
  • Get a Legitimate Lender and Get Pre-Approved
  • Finding the Right Seller
  • Build a Plan of Action and Get Ready
  • Hot, Normal, and Cold Markets
  • Importance of Inspection
  • Avoiding Financial Stress

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