Quicken Loans client Chiyuki Bidlack of Michigan discusses in this video testimonial about how Quicken Loans helped her with her mortgage. As a first time buyer, Chiyuki had no idea where to begin, but Quicken Loans helped guide her through the process step by step, making it fast and simple.
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http:/www.mortgagebrokerscentralcoast.com Mortgage Brokers Central Coast are locally owned licensed professional Mortgage Brokers dedicated to offering Central Coast home buyers with reliable, easy and quick mortgage broking services. We specialise in Investment loans, first home owner loans, home loans, consolidation loans and more.
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Statistics you can access from the ABS that call into question why the average First home owner mortgage is so large and why there is a very real chance Australia’s property prices will fall dramatically within 12 months.
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Financial Expert Provides Top Five Steps to Consider When Buying a Home for the First Time
Michael Copley — Executive Vice President of Retail Money-Out Products, TD Bank
Background:
It’s no surprise that millions of Americans plan to buy a home each year. And for most Americans, the process can be a daunting one. Owning a home requires a large investment of time, money and energy, so you should make your decision to buy a home carefully. TD Bank is looking to make the first-time home buying process a little less cumbersome. To compliment the bank’s hassle-free and easy to understand mortgage products, they have developed a comprehensive First Time Home Buyer kit to educate first time home buyers and guide them through every step on the path to making a house a home.
TD Bank developed the First Time Homebuyer Kit to create a rewarding home-buying experience. Available on the TD Bank website (www.tdbank.com/firsthome) as well as in stores, the kit is designed to take the customer through the process of purchasing a home, providing advice and information needed to choose the house and mortgage to best suit individual needs.
Some things to consider when buying your first home are:
Determine how much home you can afford: By looking at your income and current monthly debts, you can determine your ideal monthly
Buying home isn’t for everyone: Know the benefits of owning vs. renting before making any decisions. Also stop to think about what type of home you can afford and which style suits your lifestyle such as single-family homes, town houses or fixer-uppers.
Narrow the focus of your search: Many factors impact the ideal type of house for each buyer including desired features and benefits, life stage, and how many improvements you’re willing to make before moving in.
For more information please visit:
www.tdbank.com/firsthome
More About Mike Copley:
Mike Copley leads Retail Money-Out Products at TD Bank. Mike has 30 years of banking experience. Prior to joining the bank in January 2005, he served as Senior Executive Vice President for MBNA America Bank, Inc., the world’s largest mono line credit card issuer for 11 years. Mike’s additional experience includes ten years at CitiCorp, in various senior level positions specific to the mortgage business. He began his banking career in Portsmouth, VA with Central Fidelity Banks’ Inc. as a management program trainee. Mike is the former Board Chairman for St. Mark’s high school in Wilmington, DE. He obtained his Bachelor of Science degree in Marketing in 1978 from The University of Richmond and the E. Claiborne School of Business.
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Special low down payment financing for these homes and more like them in the Thompsons Station, West Nashville, Franklin, Kingston Springs parts of Nashville. These qualify for gift money and low fixed rate financing from a FHA loan with a THDA grant. Restrictions apply. Contact Tim Repass with Churchill Mortgage at 615-260-8124 for more information.
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Whether you’re buying a new home, refinancing your current mortgage, or trying to tap into your home equity Joe Boggs and his team at Integrity First Home Loans are ready to help you.
Integrity First Home Loans offers expert guidance on home loans, with the best customer service in the metroplex. They pride themselves on making the home loan and mortgage financing process easy on each client through a policy of sincerity, honesty, and communication. Joe keeps his clients well-informed throughout the home loan process, making sure that there are no surprises at closing. Most importantly, he does all of this at a rate comparable to any other mortgage financing service.
Joe is a mortgage banker who holds service agreements with Wells Fargo, Bank of America, Citi, and Chase who will collect your payments on a monthly basis after he closes your loan. This means that he can handle your entire loan from start to close in his office, so your home loan can be closed quickly and efficiently. Also, it means Joe can lock the interest rate on your loan with the servicer offering the best interest rate on any given day.
In addition to being a mortgage banker, Joe Boggs teaches a mortgage finance class. It’s important to Joe that his clients not only receive the best deal possible on their home loan, but also that they fully understand the process so it can be as quick and painless as possible. Joe is honest and sincere; he will tell you what you need to hear, even when you don’t want to hear it, and he truly believes that purchasing real estate can benefit almost any individual.
Joe Boggs is ready to match you with the right loan, right now, and offer expert guidance on mortgage financing throughout the home loan process.
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1st Mortgage Investments are Simple, Straight Forward And Quick – But they Work.
Do It Right And Franklin Partners Guarantee your capital!”
First mortgage investments are foolproof way to retire wealthy, (we can even tell you a little-known secret that shows you how to create a guaranteed TAX FREE income…..legally) at this very moment you are competing with hundreds, thousands, probably even millions of other investors all fighting to get the best fixed interest investment returns.
Franklin Partners gives you the edge in three unique ways;
1. Your interest, between 8% & 14.5% per annum, is guaranteed, in fact its paid in advance.
2. Your capital is protected by our exclusive buyback guarantee
3. Your opportunities are sourced by some of the most experienced professionals in the country
Listen – you have absolutely nothing to lose by checking this out.
This is exactly the sort of information every retiree and investor is desperate to discover – and that it’s available to you now, you have an opportunity very few people in the world will even know about.
“P.S. Call us on our toll-free line, 1 800 011709 you’ll be able to use our 24-hour hotline immediately!
We’ll log you in and give you your private access code right over the phone. ”
If you decide to subscribe, and I bet you will, once you see how genuinely informative, useful and valuable Franklin Partners proves to be, you’ll get a bonus $1,000.00 CASH when you buy your first mortgage.
You can’t lose. Any risk is ours. This is a win-win situation for you, and, as is the policy of all the mortgages we sell you get carry an unconditional, money-back guarantee.
If my are not everything that I have said they are and you are not in fact overly satisfied, you will receive every cent of your money back, no questions asked, AND keep the $1000.00
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http://MortgageInVancouver.com
The biggest barrier to entry for most anxious first time home buyers is the down payment. Coming up with a chunk of cash all at once that you are comfortable saying good bye to for a while.
What many do not know or have a misconception of is that there are other ways to get a down payment other than your savings or chequings account.
So what are they? What other possible sources can you use to get your down payment?
Lets start from the top and I will list them in the order that banks favor the most to least as where the funds come from and how much your down payment is has a huge effect on what your are worth to a mortgage lender and whether they will even qualify you for a mortgage loan.
1. Top of the list, of course is your savings. If you have the discipline to save your money and keep it in plain sight without spending it then the banks will really like you and want to trust you with their money. This is obviously the most favorable situation. One thing to note however is that the money you are using must be in your bank account for at least 90 days. The reason for this is to make sure it isn’t money laundering or that it isn’t untaxed cash, etc. If the money has been in your account for less than 90 days then they will want documentation of some kind proving where you got the money.
2. Ann RRSP account is the next best thing to your actual savings account as it is simply a different a variation of it. You have been disciplined enough to put away money each year and now you are using it to buy a home. Banks will like this.
Some things to note however; if you are not a first time home buyer then you will get taxed on this money. Depending on what tax bracket you are in will determine if this is a good idea for you. If you are a first time home buyer then you can use up to $25,000 towards your down payment TAX FREE.
3. Pulling Equity from Another Home is also looked upon nicely because it too is another variation of saving. However, to pull out equity you must refinance that property which means you need to be able to qualify for both mortgages. This is usually not a problem. It just depends on your assets, income and current employment situation.
I can help you with both transactions of refinancing and the purchase to help this process move smoother for you and to structure it so that you are using your equity in the best way possible for your situation.
4. Gifted Down Payment. There is a lot of confusion on what exactly is a gifted down payment so I am making a video blog specifically targeted to this topic (so don’t forget to subscribe to this channel) but basically this is not where you can get money from your friend to use as a down payment. You must get it from a direct family member. DIRECT, not cousins, aunts, etc. It must be your Mother, Father, Brother, Sister, or Child. If you grew up with your aunt and uncle or some different circumstance like that then there can be some exceptions made. I will just have to approach the lender with your story.
Proper Gifted paperwork must also be filled out to use this method of down payment and I can provide this for you when the time comes. All it really needs is a signature from the Gifter saying that they are giving this money to you with no strings attached and that you will never have to pay it back.
5. The final method of obtaining a down payment is by putting it on your credit cards or lines of credit. This is solely going to depend on how much credit you have and whether you will qualify for the mortgage with this additional debt attached to you.
An example of this is if you only have a $20k credit card and you will be maxing this debt out to get your down payment then the banks will be nervous to give you money. If however, you have a $50k line of credit and pulling out $20k will be nothing near dangerous for you then this wont be so bad.
The bank does not want you to struggle for your payments. They want to make sure that your mortgage is going to get paid back and if you are tapped out financially then the chances of you defaulting on the loan becomes greater.
So hopefully this gives you a good overview of down payments; where you can get it from and how the mortgage lenders view them.
If you have any questions just give me a call, 604.313.9996 or email coss.L@mortgagecentre.com. You can also go to my website to apply online at http://leahcoss.ca or read more of my blogs at http://MortgagesInVancouver.com
Leah Coss
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Wright Direct helps Deeb Realty
Wright Direct helps Deeb Realty