Also, ask your banker about no bank closing costs programs, which eliminates all bank fees thereby reducing your closing cost. We have this option available to a wide variety buyers and mortgages including FHA, Conventional and VA. Not all lenders offer the option getting a commitment prior to going into contract nor no bank closing cost mortgages. Ask family and friends for a referral to a reputable banker or use the Find a Pro feature on the menu bar here on Trulia, which allows you to review bankers along with testimonials form past clients.
I have been helping New Yorkers become successful homeowners and build wealth through real estate for over 6 years and would welcome an opportunity to earn your business. For more information or assistance, please contact me directly at 917.699.0183 or via email at email@example.com
I value your opinion, please hit best answer or thumbs up if my reply was helpful. All the best.
Senior Mortgage Banker
The Federal Savings Bank
Direct Lender l All 50 States
Before looking at anything, it is essential that you be pre-approved by a mortgage broker, mortgage banker or bank.
I am not speaking of a pre-qualification. A full pre-approval requires 3 years of income tax statements, 3 months of bank statements, 3 months of pay stubs, credit report, etc.
Once you have a full pre-approval, you will know how much you are qualified for and will know what price range to look at.
Once you have a full pre-approval, you will be as good as a cash buyer; your purchase will be contingent upon an appraisal of the house and a contract and you will be considered an "A" buyer.
I am an instructor at Stony Brook and Post Universities and train Realtors and finance majors. I would be happy to provide further information for you when you are ready.
1) Proof of income for each person that will be on the mortgage which can be demonstrated through: one month of pay stubs, previous year's W-2 forms and tax returns, official documentation to demonstrate other forms of income (alimony, child support, etc.), and two year's tax returns if self-employed (all schedules, all pages)
2) Credit Report which they will pull
3) Employment History or Business Tax Returns if you're Self Employed
4) Personal assets such as: Recent balances and statements for bank accounts, most recent account statement demonstrating market value of any investments (stocks, bonds or certificates of deposit), documentation showing interest in retirement funds, face amount and cash value of life insurance policies, value of significant pieces of personal property, debt information, the balances and account numbers of your current loans and debts, including car loans, credit card balances and any other loans you may have.
These are just a few things you should have ready when you begin your buying process. There are also first-time buyer mortgages such as FHA that only require 3.5% down with competitive rates. Well I hope this helps, if you have any other questions or need a loan please contact me through the information on my profile page. I hope this helps and good luck!
I'm always available to meet face-to-face with you at out Queens offices and help you learn exactly where you stand in your financing. I can tell you exactly what documents you'll need. Feel free to call or email me anytime. Good luck!
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Senior Loan Officer
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
(516) 606-9648 Cell
(516) 740-4478 Office
(516) 918-5383 Fax
It should be an exciting time for you! Buying your first home is an experience that should be a well educated one.
MORTGAGE: Bank VS Mortgage/Home Loan Company:
They both look at the same things (credit rating, assests, employment,etc) but the majority of banks these days are very astringent when giving out loans. You're better off going to a Mortgage/Home Loan Company. They have the same product at a lower rate, you'll save more money in the long run.
The prices in Elmhurst Queens can range anywhere between 320K to 720K, depending on what you're looking for.
Give me a call anytime... It should be an exciting experience, not a stressful one.
Keller Williams Realty Empire
9120 4th Avenue Brooklyn, NY 11209
M: (212) 300-3919
O: (718) 954 8400
F: (347) 587-2828
I am a direct lender please feel free to contact me direct Kayvan Talasazan Mcs Mortgage Bankers 9173060163
I am available to speak till 9pm tonight.thank you
Mcs Mortgage Bankers
If you would like to contact me directly, I would be happy to also help you find an agent in your area.
Best of luck!