Direct Call : 954-551-0236 / E-Mail : jenny_shin62@hotmail.com
NAR News (National Association of Realtors / 전미 부동산 중개인 협회), Weston (웨스턴)

(마이애미부동산) 5 mortgage tips for homebuyers – Florida Realtor News (마이애미부동산)

(마이애미부동산)

NEW YORK – March 5, 2014 – Bankrate.com offers some tips for your homebuyers on securing a mortgage, getting the best rate, and more.

• Be prepared to document your finances.
Buyers should be ready for a stringent review by lenders underwriting mortgages thanks to new mortgage regulations that took effect in January, particularly in proving borrowers’ ability to repay their loans. To prepare for the inevitable, borrowers should be prepared to show bank statements, tax returns, W-2s, investment accounts and documentation of any other assets they own. Also, they should be prepared to explain any large deposits to their accounts – even a $500 check from a family member during the holidays. If they can’t prove where the money came from, it has the potential to delay closing.

• Lock in a rate soon. Mortgage rates are expected to rise in 2014 as the Federal Reserve winds down its $85 billion per month bond-buying stimulus program. A rate lock is usually good for 30, 45 or 60 days, although the time period can vary among lenders.

• Shop around. Buyers may have the upper hand in 2014. Lenders have lost a large amount of their refinance business this year as rising rates encourage fewer homeowners to refinance. That means they are turning their attention to homebuyers and may be more willing to compete for their business. Homebuyers will want to shop around for more than just the best interest rate on the loan, however – look at points and closing costs as well.

• Pay careful attention to credit. The best mortgage rates often go to borrowers with credit scores of 720 or higher, Bankrate reports. While those with a credit score of 680 can still probably qualify for a loan, they may end up paying higher rates or higher closing costs.

• Watch your spending. Make sure your buyers aren’t tempted to go outfit their new home by buying furniture – on credit – before closing. Lenders carefully scrutinize debt obligations, such as credit cards and student loans. Borrowers are advised to keep their monthly debt obligations, including mortgage and property taxes, to below 43 percent of their income.

Source: “10 Mortgage Tips for 2014,” Bankrate.com (February 2014)

© Copyright 2014 INFORMATION, INC. Bethesda, MD (301) 215-4688

(마이애미부동산)

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About jennyformiamihome

성심껏 도와드리겠습니다. 연락주시면 바로 상세히 답변드립니다. Jenny Shin / 신정미 부동산 (Broker's Real Estate) 남부 플로리다 마이애미 지역 한인 부동산 주택매매 렌트 싱글하우스 타운하우스 콘도 브라워드 카운티 마이애미 데이드 카운티 포트로더데일 웨스턴 코랄스프링 도랄 Rent or Buy single house, town house and Condo Miami Dade County / Broward County, fort lauderdale, coral springs, copper city, weston, doral 2225 N. Commerce Pkwy #9 Weston, FL. 33326 Direct : 954-551-0236 Office : 954-384-1616 Fax : 954-697-0447 E-mail : jenny_shin62@hotmail.com

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JENNY SHIN PROFILE


Jenny Shin / 신정미 부동산
(Broker's Real Estate)
2225 N. Commerce Pkwy #9
Weston FL 33326
Direct : 954-551-0236
Office : 954-384-1616
Fax : 954-697-0447
E-mail : jenny_shin62@hotmail.com

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