Most of us are not like Christan Grey. We don'tÂ have the luxury of buying everything we want with cash, including our homes.Â More than likely you will be turning to financing. Which is a great option! But you will need some tips on what to do. Now don't worry we are not going to give you a full fifty tips (who would read that?). Myself ,and some helpful financing friends/experts, have put together FIVE great tips you should know when you are financing.
1. Tell the whole truth! Honesty goes a long way with your partner and with your lender! In other words, don't be like Christan Grey and keep deep, dark secrets. Be honest about all your finances with your lending officer. No matter how dirty! They are going to find out anyway, so tell them up front. I'm sure Ms. Steele would agree.
2. No submissives allowed! It didn't work out great for Fifty Shades and it's not going to work out good for your lender. You want a dominant lender. In other words, you want to make sure your lender is up to date on all your lending options. For example, putting twenty percent down on a home is old school and very vanilla!Â You may qualify for loans allowing you to put 3.5 % down or nothing at all! Your lender should have all the details on your options!
3. Don't be scared, take a chance. Anastasia took a chance on someone many would have walked away from, but it worked out! Just because your first bank told you no, doesn't mean that's the bottom line. Did you try only the bigger banks in town? Some times smaller lenders can be the way to go. They may be more understanding on lower credit ratings and be able to find a lending institute that would work with you. So call around!
4. Experience matters! Check with someone who's been around the block. Mr. Grey had a few lovers and knew what worked best for him. Realtors, have also been to this buying/selling rodeo before and they may have a lender in town they could suggest. So donâ€™t be shy! Ask them who they like!
5. Do what you're told. This is a hard limit! Â I know, I know Anastasia didn't always do that, but in the scheme of financing, you do need to listen and follow directions. They may want everything from your tax returns to your childrens age. Don't take offense, there's always a reason. So get whatever they ask to them in a timely manner, so you can seal the deal!
Sue Benson aka The Pink Lady
Licensed Florida Realtor
Contributions on financing: Erika Alves
Email Erika for more information: firstname.lastname@example.org
or call 352-797-9911