Home Buying in 87124>Question Details

Pf.borowiak, Home Buyer in Aurora, IL

I am looking to purchase a house in 87124 in about a year to 2 years. What is the best way to proceed?

Asked by Pf.borowiak, Aurora, IL Tue Mar 5, 2013

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Answers

11
Just don't let a realtor put you on this automated list. They will find out what you are looking for and then a computer will generate lists for you. Since contacting one realtor I received 3 houses in 4 months. Doing better on my own with Trulia.
0 votes Thank Flag Link Mon Dec 23, 2013
I totally agree! You want a Realtor who can take the time to actually get to know your needs and what you are looking for. Purchasing a home is a huge step and you want it to be an experience that you can walk away from feeling that you got the assistance you need and deserve. In New Mexico, the automated list have had several quirks since we changed to a new system, so you may not even be receiving all of the listings in the area that you are interested in and could possible miss out!

Just as everyone else has mentioned, take a look at getting prequalified. Try a couple of Mortgage Brokers before deciding on one. This will help the whole process move more smoothly.

Good Luck and if you have any other questions fell free to call me!

Amber Gaspar
Full Service Realty
505-730-3455
Flag Thu Jun 5, 2014
Mike Borrello - Associate Broker - Contact me and I can help yo with the whole process. 505-321-0467
0 votes Thank Flag Link Thu Mar 21, 2013
Mike Borrello - Associate Broker 505=321-0467

Contact me and I can help with the whole process.
0 votes Thank Flag Link Thu Mar 21, 2013
Start by interviewing the Loan Officer and i have provided you a copy of the Top 25 Questions To Ask Lender / Loan Officer/ Broker

1. Do you represent a mortgage broker, mortgage banker or lender, consumer finance company or a financial institution?
2. If they are a broker, how are they being compensated? Is there a broker fee? Is there any additional compensation to the broker from the lender? Are you getting a lower or reduced interest rate because of this? Do not pay a middle person fees if it is not necessary.
3. How long have you been in business?
4. How long is your loan lock-in period (the time that the quoted interest rate will be honored)? Will I be able to obtain a lower rate if they drop during the period?
5. May I see the lenders commitment letter that shows my rate is locked in?
6. What would be my Annual Percentage Rate (APR)?
7. What is the interest rate you are offering to me and is it a fixed or variable rate? Is this the best possible rate based on my credit score? Why haven't I seen a rate like this elsewhere?
8. As a mortgage broker or banker, how much money would you be paid? What is the Yield Spread Premium?
9. What other costs besides your fees will be associated with this loan?
10. Will the Lender Guarantee the GFE?
11. How much will the monthly payments be? Does this amount include escrow for property taxes and homeowner’s insurance or will I be responsible for paying these expenses on my own?
12. When would my payments be due? What is the grace period?
13. What is the length of the loan? Is there a balloon payment at the end of the loan?
14. Who would be my lender?
15. What are the chances that my loan would get sold?
16. If I pay off the loan early, would I be charged a prepayment penalty?
17. If yes, what is the amount of the prepayment penalty? How many years into the loan would the prepayment penalty expire?
18. If I pay for the appraisal, how do I obtain a copy of it?
19. If I pay for the credit report, how do I obtain a copy of it?
20. Am I required to have Private Mortgage Insurance (PMI)? If so, when will it be removed and what do I need to do to have it removed?
21. Who are you planning on using as the title agency? Are you or your company affiliated with the title company? Should I purchase owner’s title insurance?
22. Who do I contact to obtain the closing documents for the loan 24 hours in advance of the closing?
23. What are the most popular mortgage loans you make and why?
24. Which type of mortgage programs do you think would work best for us and why?
25. How long will it take to close the loan?


Lowell Sterling
Mortgage Banker
NMLS# 968898
LSterling@englending.com
16800 N. Dallas Pkwy, Suite 290 | Dallas, TX 75248
Office: 972-646-2411 | Cell: 214-418-7022 | Fax: 214-614-4637
Bank of England /dba ENG Lending: NMLS# 418481
0 votes Thank Flag Link Tue Mar 5, 2013
Please contact me, Max Sklower. Real Estate Broker and Owner of Broadcast Realty in Albuquerque. I can give you all of the steps without charge. My phone is 800-888-3581. My office is at 3620 Wyoming, Suite 100, Albuquerque, NM. My company is Broadcast Realty, LLC. my email is: realtyperson@gmail.com. There are a number of steps necessary to do this and I can save you $$, Time and from bad transactions.
0 votes Thank Flag Link Tue Mar 5, 2013
There are a number of steps I can help you take. No obligation. Please call me at 800-888-3581 or email me at: realtyperson@gmail.com Max Sklower, Owner/ of Broadcast Realty, LLC
0 votes Thank Flag Link Tue Mar 5, 2013
Get organized with your financing. Talk to Jason Pike, 505-828-9400. When you have your loan approval letter call me to talk about things you want and need in your new home. I will find the homes that match your criteria. After looking at the homes that most fit your needs I will prepare an offer on the home and get it under contract for you. I will then take care of all the closing inspections and other details to close your deal on time and on budget.
0 votes Thank Flag Link Tue Mar 5, 2013
Hi Pf. borowiak,

Why are you going to limit your search to 87124?

Yours,
Art Miller
0 votes Thank Flag Link Tue Mar 5, 2013
HI! Congrats on making the decision to buy! Right now is the time to get your finances in order. Speak to a local lender (Bob Hoffman of Pinnacle Mortgage at 967-1826). They will help you learn your credit scores and assists you to repair any blemishes. Having the highest credit score possible with get you the best interest rate on your loan.

When you speak to your lender, they will look at your past bank statements, pay stubs, taxes and debt to income ratio. This will help better define what you are qualified for and also your personal "comfort level" with a monthly payment.

Once you get approved (and you can do this NOW even though you are planning on buying in a year or two), then the shopping begins! Of course you would need to get a new approval when you are actually ready to buy.

I will help you search for a great home that fits your needs!
0 votes Thank Flag Link Tue Mar 5, 2013
Hello,

I would recommend that you begin to save money. Next, work with an agent to give you information about the city and areas that may interest you. He or she can send you listings to give you an idea of what homes are going for in the area(s) that interest you most.

If you'd like, I can assist you. Since the seller pays for my services, there is no cost to you for my assistance.

Meanwhile, let me know if you have any questions or concerns.

Kindly,

Leigh-Jo
Syan Real Estate
Call/Text: (505) 730-8181
Web Reference: http://www.Syan.com
0 votes Thank Flag Link Tue Mar 5, 2013
It is never too early to start planning. 1st is to identify a trusted Realtor to work with. Next identify a lender to get prequalified or at least find out what you need to do to be prequalified before you look at homes. I would be glad to assist you anytime. Call or email me.
Joe Brooks
505 977 3474
joebrooksrealestate@gmail.com

Your real estate expert.
0 votes Thank Flag Link Tue Mar 5, 2013
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