When it comes to getting approved for a mortgage it’s understood that there are lot of required documents which means a lot of gathering of information for the borrower. We’ve included a list of required documents below, which you will need to provide when getting a mortgage. You can also download a printable version of our loan document checklist here.
I’ve said it before and I’ll say it again, down payments are one of the most overwhelming parts of buying a home, especially if you are a first-time home buyer. There are so many questions and concerns about if the amount is enough, is it too much, how I can ever save up that much… the list goes on! I know this, and you know this, so it stands to reason that mortgage companies and housing agencies know this too.
Hearing that your loan has been cleared to close is that light at the end of the tunnel! There are so many factors that go into getting someone approved for a mortgage and so many moving parts that it becomes a bit like you are holding your breath through the whole process. You can read more about the process of getting a mortgage, on our first time home buyer page. What can you expect from your closing day and after?
Let’s set the record straight. No down payment is a thing. But, no money down, that is not a thing. There are costs, outside of…
When this single mother and school teacher walked into her local Stockton Mortgage office, she was frazzled. What started out as a promising endeavor, purchasing her first home, took a turn for the worse when she realized what all was involved in buying a fixer upper. Once Joe Daly, Stockton’s Director of Renovation Lending, came into the picture things went much smoother— within 31 days her home loan was closed, and the renovations commenced on the home where she would raise her daughter.
The realization that borrowing money costs more than just spending it out right may be one of the greatest disappointments of becoming an adult. My sweet son suggested, “just use your credit card” in response to my statement, “I don’t have the money for that”. Oh, to be innocent again. However, as it stands, it does cost money to be in debt. Did you know that you may be able to spend less on your debt?
For first time home buyers one of the most difficult hurdles is the down payment, that is why when forgivable down payment assistance programs are rolled out we try to let everyone know! In the past, we have witnessed firsthand the benefit that many families experienced from programs like these in other states. In fact, one year we had about 20 families who had been working towards owning a home by trying to save up funds but the “finish line” seemed far off. However, with the assistance of the forgivable down payment assistance program, they were reenergized to reach that finish line!
In today’s economy, it’s harder than ever for renters to save up the money that they would need for a down payment on a new home. Luckily, there is a whole bundle of ways to become more money savvy! Here are my top 5 simple ways to save money for the down payment on your first home!
Who doesn’t love the television show, Fixer Upper? Chip, Joanna and the Gaines children have found their way into the hearts of many in their handful of seasons on HGTV. Their warm personalities certainly don’t hinder their lovability but we watch because their ability to “take the worst house, in the best neighborhood and turn it into a client’s dream home” is spectacular! We love to see a house that easily could have been looked over become a beauty; not to mention, how much the value of the home increases. But how do they finance these projects? If you wanted to improve your home through renovations, how would you finance it? There are a few options; credit card, savings, HELOC (home equity line of credit) or a renovation mortgage.
Cutting a house in half sounds like a ludicrous idea but if you are going through the process of divorce you just may feel like this would be the easiest way to move forward. Divorce has enough stress surrounding it that even the thought of having to deal with the nuances of adjusting the mortgage arrangement could force one to put it off several months or even years. By doing this, you may end up having more heart ache and problems in the long run.