Why is it important to get pre-approved for a home loan?

Pre-approval

1. Determine how much you can afford to spend on a home. A pre-approval shows you how much you can afford to spend on a home based on your debt, income, and credit. 2. Increase your bargaining power. Knowing how much home you can afford can give you more bargaining power when negotiating with a… [Read More]

The Essentials of Pre-Approval

credit income assets

There are 3 pillars we evaluate for pre-approval: Your Credit Includes your credit score and history Your Income Includes your employment history and monthly income and debt Your Assets Includes the amount and source of money available for down payment and closing costs Have questions? We are here to help. Get pre-approved for a home… [Read More]

Important Mortgage Terms

mortgage

Here is a closing glossary you may want to know if purchasing a home: Appraisal Fees: Fee set by the appraiser to provide a written estimate or opinion of a property’s value based on comparable sales, improvements on the property and location Lender’s Title Insurance: Fee paid to the title company for insurance of lender’s… [Read More]

Need More Space?

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Depending on the changes that have occurred in your life, you may be thinking about upgrading or downsizing your current home. Whether you have empty rooms, need more rooms, or now have a far commute to work, you may be thinking about finding your next home. Choosing to sell your home is a big decision…. [Read More]

What documents are required to apply for a home loan?

documents

When starting your loan application, there are some required documents. Income • Paystubs (last 30 days) • W2’s and 1099’s (past 2 years) • Personal tax returns (past 2 years) • Self-employed – YTD P&L and Balance Sheet • Other income- Award letters, annuity statement, etc. Assets • Bank statements (most recent 2 months) •… [Read More]

Essential Home Buyer Tips

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If you’re thinking about purchasing your next (first) home, here are some tips to keep in mind: • Make a list of what’s important in your new home search • Know your financial boundaries and stick to them • Don’t make any big purchases until you’ve closed on your new home • Research neighborhoods •… [Read More]

What size home can you actually afford?

dollar sign and house on balance board

Buying a home is exciting because you get to see all of your dreams becoming a reality. There are so many options when purchasing a home and there are a few factors that go into how your mortgage is calculated. Factors that go into your monthly mortgage payment include your loan amount, your interest rate,… [Read More]

Get All Your Ducks in a Row BEFORE You Go House Hunting

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Although it’s typically to find a Realtor first when purchasing a home, it’s equally important to find a Lender. A Lender can help you get pre-approved if you are qualified and ready to buy a home. There are many benefits of being pre-approved for a home loan. Being pre-approved allows you to understand how much… [Read More]

Preparing Your Home for Summer

patio

During the busy summer months, people often forget about keeping up with the maintenance around their home. Here is a checklist to keep you on track: o Clean outdoor patio furniture and grilling items o Check the driveway for cracks o Control weeds in outdoor spaces o Replace air filter o Make sure there are… [Read More]

AMEC Express Program and AMEC’s Closing Guarantee

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Our AMEC Express Program combined with our Closing Guarantee will give you peace of mind knowing your loan will close and you can move into your new home as scheduled. The Express Approval focuses on the top two items that cause delays in our industry, credit and income. With the Express Approval the buyer’s credit… [Read More]