If you're in need of a good Loan Officer to help you, I'm always available to meet face-to-face in our Jamaica branch. Good luck!
Senior Loan Officer
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
Sanjeev Ahuja NMLS # 148731
Home Funding LLC
110 Jericho Turnpike Ste 214
Floral Park, NY 11001
Direct Ph 917-517-2552
NYS Registered Broker, Department of Financial Services, Loans Arranged through third parties NMLS # 885573
1. Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.
2. Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.
3. Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.
4. Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.
Put together your Team of real estate professionals and shop 'til you drop!
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker â€“ NYS Dept. of Financial Services
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I agree that you need to get pre-approved for a mortgage and the bank or mortgage broker will help you to determine the maximum amount of loan that you will get. Once you know this amount, then you will need to decide which type of property you want to buy.
A 2-family house will give you rental income which the bank will take into consideration when doing the numbers for you. This means that if you have the cash to cover the down payment and closing costs you can probably consider that option. At this point you are ready to start working with a real estate agent who will show you properties for which you are already approved.
Good luck in getting that home!
Keller Williams Realty
Great question and great responses. Definitely start with a comprehensive preapproval from a reputable and highly recommended loan officer. Ask family and friends for a referral or use the green "Find a Pro" tab here on Trulia. After choosing a loan officer, review their recommendations to ensure that they're mostly from clients. Also, check out both the loan officer and the lender with the Department of Financial Services. I have extensive experience assisting mostly first time buyers to become successful homeowners throughout NYC and nearby suburbs. For more information or assistance I can be reached directly at 917.699.0183 or via email at email@example.com. Follow me on Twitter @mdenniston247.
I value your feedback so please give the thumbs up or hit best answer, if my response was helpful.
Michael Denniston l Cell: (917) 699-0183
Residential Home Funding, Corp.
Licensed Mortgage Loan Originator l Sales Manager
6901 Jericho Turnpike Ste. 219 | Syosset, NY 11791
Main: (516) 605-1733 | Fax: (888) 881-2557
NMLS # 24076 | Company NMLS # 34973
The very first step is be pre-APPROVED for a mortgage before you look at anything at all.
By being pre-approved, not only do you compete with cash buyers, but you will know exactly how much you can spend and still maintain a happy lifestyle.
I would speak to a bank, a mortgage broker and a mortgage/banker. I personally prefer a mortgage banker/broker. I am partial to the mortgage banker/broker.
You must fit a profile for the banks, but the mortgage banker/broker can either choose to provide you with a mortgage out of their own funds, or shop your need through many other banks until they find one that fits YOUR profile.
If you would like the names and contact info of several, I will be happy to provide that information to you; people I use personally.
You need to find out first your financial stregth, if you can afford to buy a house and and how much of a house you can afford. You can either choose your realtor who can refer you to a mortgage broker or a mortgage bank or go on your own to any mortgage bank.
If you need further information feel free to contact me, it wouild be my pleasure to assist you.
Exit Kingdom Realty
As they will provide you a pre-approval letter or a pre-qualification letter
stating the amount of loan amount as well as the down payment.
Different banks have different programs for first time home buyers.
After obtaining a pre-approval letter or a pre-qualifcation letter you have
two choices with working with a Real Estate Agent or Realtor.
All agent by default represents the seller or brokerage and are working
for their best interest. They will provide you all details on property but
will always want to get the highest price for their client.
I recommend hiring a buyers agent and having them work for your best
interest. They can provide you comparibles of what sold in the area of
the property you might be interested in and guide you through the
price and help negociate the best price for you.
Let me know if you need help as I am Also a Certified Buyers Agent.