This is the most common question asked of home buyers. It comes down to the buyer and their comfort level. The easiest way to determine how much a month you are able to pay is to relate it to your current housing payment. At the end of the month do you have extra money left over? Are you about right? Or are you short? Visiting with one of our preferred lenders (we have already pre-screened them for you) will give you the right information.
This letter indicates that you have already spoken with a qualified lender and they have done an analysis of your ability to borrow money. This is based on credit, income, debt payments, length of employment, and savings. Before an offer is submitted on a home, we will need this letter to ensure we are shopping for homes in your price range.
This will be determined by the loan program you are qualified to use. The minimum amounts can range from 0% to 25%. We work with our preferred lenders to place you in the best program. Your long term success is our #1 priority.
In addition to the downpayment, buyers must pay for inspections, appraisal, and closing costs. The closing costs include both the title fees and pre-paid taxes and homeowner’s insurance. This can add up for a buyer, but Real Simple Housing has ways to reduce your out-of-pocket expenses through Buyer credits. Ask us how we can negotiate on your behalf.
Our preferred lenders make it easy for your to qualify for a loan. You will need to be prepared to provide our lenders with two years tax returns, thirty days of pay stubs, and two months bank statements. Additional documents may be required for full approval but this is the initial package of information you will need to provide. Real Simple Housing works hand-in-hand with our preferred lenders to make the process as easy as possible.
No problem. Real Simple Housing is a Freddie Mac certified CreditSmart instructor. In conjunction with our preferred lenders and credit repair company, we can provide you a path to homeownership. You are not alone. We stay in contact with you through the process as you work to your pre-approval.
Yes. Real Simple Housing is focused on helping entry level and first time buyers. We have years of experience working with non-profit lenders who provide down payments for qualified home buyers. Sometimes there are funds available at the city, state and federal levels. Contact us and we can identify all the funding sources in your community.
This couldn’t be easier for you. Click on this link and share some basic information with us. From there let our 25+ years of experience and vetting of high quality industry professionals do the work for you. You won’t be disappointed.
Typically, this is decided by the Buyer. The loan documents are date sensitive, so you as the Buyer need to be in charge. The Seller can choose to sign at the same time or sign their closing documents in advance.
No. At closing the title company must be able to verify funds to transfer ownership. Wiring funds is the best, but sometimes the title company may accept a cashier’s check. Check in advance of closing how the title company will want the funds delivered to them. Wire fraud is a big problem, so always take the steps necessary to protect your account information. Ask us about the steps the real estate industry has taken to safeguard you from fraud.
When the Deed of Title is recorded, you own the home. Start moving in. This occurs when the title company has all of the signed documents and funds to complete the transaction. Usually this is the same day that you sign the closing documents. If the contract has a rent back for the Sellers, you will need to wait until that agreement is completed.
In advance of closing, you can notify the utility company that you will be the new homeowner and establish your account. You can provide them with the expected closing date of the home and schedule the transfer. You will want to make sure you contact the electric, natural gas, water, garbage, internet and cable provider. Keep in mind they can all be separate companies. Don’t worry, Real Simple Housing will provide you with the contact list of utility companies for your new home.