Is buying a home or an investment property one of your 2016 New Year Resolutions?
In my ask an expert series, Neil Christiansen, mortgage lender with Citywide Home Loans prioritizes the 5 things you need to do so you can buy in 2016.
1. Contact a mortgage professional at least 1 month prior to driving around and looking at homes. This applies to ALL buyers: whether first time, move-up buyers or investors.
2. If under contract, DON’T mess with your credit – it seems so simple to say but hurts and in some cases kills deals all the time. (Wait until after closing to buy that BMW i8.)
3. Don’t trust all home search sites. Since the majority of potential buyers start their search online it’s important to understand the source and how they get their information. It’s best to reach out to a local professional REALTOR® to get up-to-date information.
4.Save, save, save! Although there are down payment assistance programs available, cash is king! Having 5% of the purchase price in a liquid account not only helps win the deal but the additional assets help with approval rates from Fannie Mae and Freddie Mac.
5.When searching condos or townhomes check to make sure the project is approved for FHA and Conventional financing. There seems to be several projects who haven’t updated their approval status with either FHA or Conventional agencies. Spending your time on a property that isn’t approved can wreak havoc and the initial approval and eventually kill the transaction.
Follow these 5 actionable steps and be ready to buy in 2016.
If you have any mortgage questions please let me know, I’m here to assist. Neil Christiansen, Branch Manager with Citywide Home Loans, Neil.Christiansen (@) chl.cc or 303.431.1588.
As your REALTOR®, I will guide you through the home buying process. Let me help you find your new Denver home. Call me today at 720.675.7355 or email me at donnahansenion (@) gmail.com.
Author:Donna Hickey Hansen Phone: 303-949-3393 Dated: January 5th 2016 Views: 741 About Donna: As a Realtor and real estate investor, I love finding first time home buyers, move-up buyers and inv...
View our latest blog posts in your RSS reader. Click here to access.
Ion Real Estate is a hand-picked team of highly respectable experienced Realtors coming together to work with you. Please contact us anytime with any questions. We look forward to serving your Colorado real estate needs. Our experience and dedicated professionalism ensures our clients have exceptional representation every step of the way. At a time where bigger isn't always better, Ion Real Estate has chosen to remain a smaller, highly focused team in order to provide a level of personal service, attention and consideration to our clients that you simply won't find elsewhere. Our decades of experience in the unique world of Denver real estate positions us advantageously to handle all of your real estate needs
As adults we expect adults to act as adults and to be respectful of ot
"After deciding to move to Denver from NYC, my father and I decided to spend our vacation in Denver back in August, for the purpose of beginning the search for a new home. My father and I contacted Marc, and he made what we thought would be a long, drawn out process seem relatively easy. Before we knew it, my father and I owned a home by the time we finished our vacation in nine days.
Marc was very professional, knowledgeable, courteous, patient and an all-around great person. He took the time to educate us, as we were first time home owners, and show us all around the Denver metro area. He also continues to follow up with us after the sale, which we really appreciate. I highly recommend Marc for your relocation needs.