I visited with you earlier on this site. Hope you are well. Call me and we can get started now so when your lease is over you will be ready to move.
Very truly your,
Kathleen Hamid (281) 799-4002
The normal process time from Application to Underwriting and from processing to closing is two weeks. Please feel free to contact me with any more questions that you may have.
NMLS ID # 252320
832-813-0100 ext 332 office
Congratulations on your plans to purchase home. It is wise of you to begin your efforts to locate a home and the services needed as soon as possible. Then when the right home is available you will be able to make an offer and have the opportunity to have it accepted because will have all that you need to actively move forward.
If you will call me we can introduce ourselves and meet to discuss the steps needed to begin the process and you can explain your needs so we can narrow the search to your specific needs.
I am Kathleen Hamid, a Realtor, in the Greater Houston Area. You are in the Bear Creek ? area I believe. Please call or email me and we can begin. Kathleen (281) 799-4002 or email- KathleenRealtor1@gmail.com I look forward to meeting you and working with you. Happy New Year. Very truly yours, Kathleen (281) 799-4002 KathleenRealtor1@gmail.com
The process does not take long but you will be best served to meet with a local professional who can start the process for you. You may find some potential issues that can be addressed and corrected now so that they do not get in the way when you are ready to purchase a house this summer.
Try to find a lender or broker who will take the time to go over your credit circumstances and give you some guidance. This is the only way you will know your credit is moving in the right direction.
Good luck to you.
REALTOR | Mortgage Broker
Keller Williams Realty | 360 Lending Group
That way you can delete or update any potential credit issues between now and then.
Sometimes the better your credit score the better the rate might be.
The loan officer might also be able to give you guidelines on how much to save for
a down payment or closing costs.
The loan itself should take about 45 days from the time you contract to the time you close.
You can't lock in an interest rate until you have a signed contract, but once you do the loan process takes 30-45 days typically. Again, if you are pre-qualified or pre-approved, you will have a relationship established with a lender and the process will go much faster.
You can get quotes now on current rates and how much money you will need to have for closing (down payment and closing cost). They might discuss how sellers could possibly help you with closing cost if needed.
Feel free to check my buyer's section on my web site. It has direct links to the 3 credit bureaus and shows the buying process in steps. Would be happy to be of some assistance if needed.
Mark McNitt, Bernstein Realty
Glad you are thinking ahead. First, I would like to suggest contacting more than just one loan officer - this way you will get an idea of what your options are. Compare the quotes you get, so you know that you are comparing apples to apples. Please make sure that once you are ready to buy, you get a pre-APPROVAL, not a pre-QUALIFICATION letter. The approval process looks at your credit history, income, etc. to give you a more specific idea of the loan amount and the interest rate you will be getting. The details on the report will give you an idea of what your other costs are, so you are prepared with the dollar amount you have to bring when everything is finalized and you close on the house. Once you start the buying process and you have a contract, generally your loan gets processed within the time frame you have set to close, roughly 30 days. Don't forget to get an inspection done on your house within the option period - it is well worth it.
Wish you all the best in your home search. Let me know how I can be of assistance. Thanks.
I would advise starting the approval process as soon as possible so that you will have an idea of how much you can borrow before you start looking at houses. This will also give you time to gather all of the tax returns, W2's, etc that the loan officer will need.
Best of luck with buying a house it is a great time.
It's best to start early in case issues pop up that need to be dealt with before you can get full approval.
You should start now. Get pre-qualified. Visit a mortgage banker and review income, assets and credit situation. You have adequate time to correct any issues your credit report may have, will also be able to discuss mortgage loan estimate of fees and closing costs, so that you can save and have have 'seasoned' funds to close. Also by knowing what you qualify for, you can budget and start your research on real estate market; educate yourself based on realistic assumptions.
This is a fantastic time to be a homebuyer! Mortgage Rates are at historic lows, and current property values represent great instant equity opportunities.
Congratulations on your decision to buy a house and best wishes on this fantastic journey of home ownership.
Broker & Mortgage Banker
3. Stay away from calling the listing agent. They have a signed agreement to represent the seller and even though they can write a contract for you they are not representing you. The same goes for new home construction. Remember the sales rep is representing the seller not you.
Depending on where you are wanting to buy, you may qualify for a USDA No Money Down loan. The USDA program is considered a Rural Development loan so you have to find a home a little farther out. Areas like Katy, Cypress and Magnolia are good examples of areas eligible for the program.
Here are some highlights of the program:
-Finance full purchase price plus closing costs up to 103.5% of the appraised value with or without seller concessions
-No cap on seller concessions, if seller is not paying closing costs, they can be rolled into the loan amount up to -103.5% of appraised value, not sales price. Great on foreclosures.
-One lien, no down payment assistance required
-No post-closing reserve requirements
-Not limited to first time home buyers
-Finance needed property improvements into loan amount up to 103.5% of â€œAfter Repaired Valueâ€ (case by case, contact me for details)
-NO MORTGAGE INSURANCE: That means lower payments than FHA
-Full doc only, must have stable work history (2+ years)
-Self-Employed borrowers okay with 24 month average income
-620 minimum credit score
-No open collections, charge offs, judgments or tax liens
-No pre-pay penalty
-30 year fixed rates
-Primary residence only
-Available for SFRâ€™s, condos & town-homes only, No mobile homes or multi-family properties
To verify if a property is in an eligible area go to the following link:
If you would like more details on how to qualify for this loan please feel free to contact me at your convenience.
Elliott R. Oliva
Envoy Mortgage, LTD.
"Se habla Espanol"
The home processing takes approx. 60 days from submitting your sales offer to close BASED on property you purchased.
IF short sale or foreclosure can take up 60 - 120 days to close
Great question !
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
Buying a home is such an exciting event, but the process can sometimes feel a bit overwhelming. I would recommend about 90 days before you lease is up, go ahead and see if you pre-qualify for a home purchase. I live and work in the 77084 area and would love to help you out. While there are several loan officers available to you, be sure to get a few quotes, ask friends who have purchased for referrals, and ask your Realtor also. Many buyers do not realize that one Realtor can show them nearly any home, including new construction in the area. The Realtor services to a Buyer, are most commonly, at no cost to the Buyer. Please feel free to contact me if you have any further questions or I can help in any way. I would love the opportunity to meet you and make your goal of owning a home a reality.
The first thing I would suggest is to look over your credit reports. That way you can take care of any problems immediately. The only government backed place to get your free credit reports are http://www.annualcreditreport.com. I highly suggest the following site for detailed information about credit reports and how to address problems: http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre34.shtm
Don't take on more debt, pay ALL BILLS on time and try to pay off your cards with the highest PERECENTAGE OWED first. You really want to keep them below 30% or they start to lower your credit scores. I have worked with credit specialists and have compiled a list of what/not to do while waiting for a large loan to close. If none of the above affects you, congratulations!
You should also check with your rental agreement to see how long in advance you need to notify your intentions of leaving.
Typically, lenders approvals last 3 months or longer, but it's good to plan early.
I can be reached at 832-409-9436 for any more questions you might have while preparing.
Yes as said before the approval process takes only filling out an application and submitting your last two years tax returns, last two months bank statements and last two paystubs. The loan processing can take 3-4 weeks and the home searching well...that can take some time too depending on if you have an idea of what you are looking for or not. A good knowledged Real Estate Agent will help guide you to the right home in the right neighborhood and that is a good buy for your needs because we are out there daily and know what is out there being offered by sellers and builders.
Many of us also offer lease buyouts should you decide to move earlier than July while the rates are still great!
Good luck to you! Be patient it's a long winding path to homeownership, you will learn alot, need alot explained to you and you will get frustrated at times so it is SUPER beneficial to have the right team players working hard for you - your Realtor and Lender!
In the event that there are any issues with your credit report, you have time to get those issues resolved. I have worked with clients that thought they had great credit, and then found that someone else's issues were showing up on their reports. Although it was possible to get this corrected, it did take some time. Best to start now and know that you are ahead of the game.
I can refer you to a mortgage company if you like. Just email me at email@example.com or call me directly at 281-380-5589.
Pre-approval takes a matter of a few minutes if you have all of the documentation presented to the lender.
The loan process takes 3-4 weeks in most cases.
2 years most current income tax statements
2 months most current of bank statements
Driver's License or photo Id
1 Month recent pay stubs
Please let me know if you need any other information
Sonya Burnett/Realtor 832-282-8881 Text