Realtors have preferred lenders..ones we know can close on time and won't rip off our clients. Don't eliminate Caliber simply because the referral came from your Realtor, but you should definitely shop around. You really can't get accurate pricing until you've found a house. If you have a pre-approval letter from a reputable lender it's enough to get started. After you've found a house, follow the steps in my book to shop for the best rate. You can read it free on Amazon Prime. BTW...shop APRs, not interest rates.
Buying a Home? Don't Let Them Make a Monkey Out of You! Follow the link below.
If you are renting from a large company ... your lease probably has a clause for early departure. Or the company may have a policy that is outside the lease, ask the property manager.
Usually, you would be looking at maybe a one month vacancy fee and possibly a forfeiture of deposit (depending on state laws of how deposit can be withheld)
If the complex or company has a waiting list ... it shouldn't be bad at all. If a hard to rent location, they may seek more compensation.
Just because you can Buy in September doesn't mean you should up and move immediately .... keep saving money and wait for a great deal. November and December are great times to buy a house. (Lower market activity in winter months usually leads to less competition and lower prices.)... more
I have received the answer in one week and sometimes my buyers have waited a year with no answer. Now I have someone in the 7th month waiting....
I would expect an average timeframe is 60-120 days, or 90 days.... more
We do not do ITIN loans but are in the process of signing up with a lender that does. It looks like Patty has a good beat on these loans. From what I understand the 35% down is looking pretty much like industry standard.
Quality Mortgage Lending
FHA Loans down to a 580 Credit Score
No Money Down Purchase Programs
Unlimited Loan to Value Refinances of Fannie and Freddie Loans
90% Cash Out on Jumbo Loans... more
I don't know what Michael is talking about... you have to have low debt to income and job stability/stable earnings even if you have a decent credit score. you pay a risk adjusted premium that might be 2% for being a low credit score, however, you wont get the loan if you are independent contractor, no proof of income or recent job change. You could have a 700 score and if you just started a job 3 months, went thru a BK one year ago, had purchased a new car with a $600 per month payment, you still wont get a loan!... more
Most builders will honor your request to be represented by an agent if you mention it before you go there. Call the sales office and lay out the scenario, most often they are happy to have a represented buyer and will not exclude your agent of choice if you are upfront about it. As for getting pre-approved, talk to a lender and they can run your numbers, credit scores, job history, debt to income ratios, etc. No reason to look at a property if you are not qualifying for a mortgage in these tough underwriting lender days.
If you like my answer, best answer me and a thunbs up, Thanks!!... more
Do you know anyone who is a Real Estate Agent? If you do contact them and find out who they know that lists and sells foreclosed homes. If you don't know anyone in the business, contact local Real Estate Offices and try to find out if anyone in the office lists and sells foreclosures. Then ask them to contact you if they need your service.... more