Month: November 2016

Mortgages are, by far, some of the most stressful events in life. The process itself involves a lot of paper filling and demands loads of patience, to begin with. Whether this is your very first home and you are also experiencing the butterflies of the process, or you are looking to move house and invest in a bigger property, these mortgage tips should come in handy.

See How Much House You Can Afford

While you may be day-dreaming about a luxury villa with 5 bedrooms and a pool, your bank account/credit score/savings might be telling you something else. The trick is to buy what you can actually afford and never go over your limits. Your DTI is your monthly debts compared to your income. The majority of mortgages enable 41% DTI at most. For more peace of mind, you should focus on a DTI ratio that will not go higher than 36%. There are calculators you can use online to determine just how much house you can buy, or you can get in touch with one of our experts and figure out what to expect.

A high DTI rate is very likely to force you to miss mortgage payments in case something urgent comes up. Act responsibly and listen to the professional advice of mortgage experts for a smooth process.

Get Yearly Credit Reports And Look For Errors

You are entitled to ask for a free copy of your credit report on a yearly basis at www.annualcreditreport.com. Check for any potential errors in terms of your contact details, home address, or accounts. Get in touch with the credit bureau and have them fix any problems you may find.

Don’t Worry About Having The Perfect Credit Score

There are tons of mortgage programs that will allow you to have a credit score of 620 the minimum so your loan can be approved. FHA loans are excellent for people with a credit score of 580. However, just because you have a 580 credit score, it does not mean that you will automatically qualify for your loan. A lending institution will usually assess a number of factors, and not just your credit score.

Your credit history over the last year prior to your mortgage request should be as clean as possible. Focus on getting rid of all of your payments. Keep in mind that provided you can afford to pay a down payment of 20 percent, you can prevent paying for a PMI mortgage that also requires you to get mortgage insurance. The PMI is up to 1% on a yearly basis, and it is tied to the type of mortgage program you will select. An FHA loan has a PMI of 0.85% and it is required for the loan’s life. For more details, feel free to check the information on our website or get in touch with us and let us guide your steps toward the ideal mortgage solutions.

Save Some Cash

Having some extra money aside means improving your odds of receiving your loan. Lenders will look at it as payment for a few months and they would much rather grant you the loan instead of someone who will be depleting all of their savings in order to get the mortgage.

Start well ahead and take advantage of this compensating factor and you could get your credit faster and with less hassle.

Improve Your Credit Score

Prior to filling in your paperwork for your mortgage, try to improve your credit score as much as possible. You could try to pay a high credit card balance below 15% of the limit. Focus on disputing any negative information concerning your account by contacting the credit bureau and creditors and negotiate a payment to have the information deleted. You could also ask a family member with a good credit score to add you as an authorized user.

Secure Your New Home

Once all the paperwork is filled in and your loan approved, you can start planning your move into your new home. Make sure to secure it properly prior to spending your first night there. Consider changing the locks or having them re-keyed so you can prevent any of the old owners from using their keys to break in. Professional locksmiths services like 24/7 ASAP Locksmiths can provide you with expert consulting services and advanced solutions for home safety, including deadbolt lock installation, safe installation, window lock fitting, peephole and mailing box lock installation and more.

How would you rate your current strategy for attracting new clients? Do you think you could do something to improve your methods?

Competition is impressive in the real estate field, and an extra tool or strategy that could help you attract more clients and keep them happy will help. The wow factor is something that can make the difference between you and other agents on the market. If you don’t believe you have it yet, it’s time to do something about it. Effective communication and trust building are mandatory. Learning how to run an extra mile is an excellent start.

Put Your Clients In Touch With Businesses You Trust

You most likely know a few handymen, repairmen, contractors, locksmiths and service providers you trust and could recommend to your friends. Why not recommend them to your clients that are about to move into their first home? They could use all the help they can get, and you being there for them will definitely help build more trust.

Create a database of local contractors and services and recommend the best residential locksmiths like the guys at https://get-locksmith.com/ for people who are about to move into their newly bought properties. Show genuine care concerning your clients’ safety and encourage them to change the old locks or at least have them re-keyed for more protection and peace of mind. If possible, bring in some statistics on local break-ins or print out tips for increasing home security for new owners. Your clients will appreciate the extra efforts and refer you to their friends or use your services again when needed.

See If You Can Give Them Your Business

If your clients are selling flowers, baking cakes, or cutting duplicate keys, why not rely on them whenever you are the one who is looking for assistance? It’s not something you should obsess about, but it’s worth remembering from time to time. If your clients offer services you could use, stay in touch with them and take advantage of the opportunity to get in touch with them.

Send Over Some Pizza

On the day of the big move, the last thing your clients are going to think about will be what – and how – to cook for dinner. With dozens of boxes that need to be unpacked and hundreds of items that need to find their spots on the shelves, food is overrated. It doesn’t have to be like that. With a small investment, you could have some pizza or Chinese sent over to them. It would help if you could casually find out what their favorite food is, or if they have any allergies. We promise they are going to love you for your kindness and recommend you to all of their friends and coworkers.

Introduce Them To Their New Home

Welcome baskets, gift cards, freshly baked goodies, and wine or champagne are excellent ways of making them feel welcomed into their new home. You can have a basket delivered to their doorstep or make a personal, bur brief appearance. Don’t forget to include a note. You can also offer to take them on a neighborhood tour. After all, you should know the entire area by heart. Drive them around for a couple of hours and make sure they learn about the hottest attractions in town before you go. The secret is to make them feel truly excited about their fresh purchase and also show you are truly interested in their well-being and comfort.

Help Them Clean And Organize

You do not necessarily need to be the one to help them clean their new place and unpack and organize their items. However, it would be nice to hire cleaners, movers or organizers to cater to these needs. The more load you can take off their shoulders, the better. If you know some affordable and reliable services in town, or you know about some price discounts, be sure to let your clients know all about it.

Remembering their birthdays and sending an anniversary card or even school supplies for the kids will definitely work some extra magic and give you that wow factor. You could also fill up a basket using toilet paper, sponges, hand soap, and other essentials people moving into a new home would normally need.