Five Ways To Pay Your Closing Costs When Buying A House...

 Hello!

When you buy a house there are three sets of funds you have to consider…

1)  Your down payment.

2)  Your closing costs.

3)  Your prepaid taxes and insurance.

When it comes to closing costs and prepaid taxes and insurance there are five ways to pay these costs…

1) You. …You are the borrower and you can pay these expenses yourself.

2) The seller. You can negotiate with the seller to pay these costs at the time you make your offer.

3) Gift. You can get a gift from a family member to pay your closing costs. The guidelines are different with each program for gift giving – so check with me before you attempt to go this route to make sure it’s appropriate for your loan program.

4) Grant. If you have access to a state or government grant program you can use this to pay these costs.

5) Loan officer and/or realtor. You can get help with paying your closing costs and prepaid expenses from the loan officer, and the realtor can help as well.

That’s it for today!

Have a good day! …and thanks for reading.

Brett

 

Get Pre Approved For A Loan Here
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When You Don't Have To Remove Disputes From Your Credit To Get A Loan...

 You may have been told by your loan officer that you have to remove the disputes from your credit before they can underwrite your loan.

For Conventional loans there is really no way around this. You will have to remove them.

However, for FHA loans you don’t necessarily have to remove them.

This is true for manually underwritten FHA loans.

So, if you are getting an FHA loan, and your loan office wants to remove the disputes. Ask your loan officer to have the file manually underwritten.

On a manually underwritten loan the underwriter can underwrite the loan “around” the disputes. …Ignore them in other words.

That’s it for today!

Have a good day! …and thanks for reading.

Brett

 

Get Pre Approved For A Loan Here
My Previous Blog

How To Get Credit For Your Option Money When Doing A Lease With Option To Buy...

  Hello!

When you give someone option money at the onset of a lease option agreement – you are going to have to prove you gave that money when you get a loan to buy that house.

How do you prove it?

If it’s certified funds you need to keep a copy of the certified check.

If it was a personal check – you need to keep a copy of the canceled check (front and back).

Don’t give cash!

Anything less than this – the underwriter will not give you credit for giving that money.

That’s it for today!

I hope you have a great day! Thanks for reading!

Brett

Get Pre Approved For A Loan Here
My Previous Blog