Home Buyers Must Have A Plan:
Planning To Buying Your First, Second, Or An Investment Property Is More Important Than Many People Can Think OF..
Buying your first home is a major move, even a second home, or an income producing property.
So Why Not Make A Detailed Plan Of Action?
Real Estate remains among the best, the safest long-term investments.
Let us help you purchase a property this year; and you will be thankful for years to come!
Despite recent slowdowns in some markets, housing remains a good long-term investment, and demographic demand favors housing over the longer term.
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START INVESTING IN REAL ESTATE TODAY!Invest your money in one of the greatest wealth creation of all time.We’re here to assist you with step by step details, action plans, methods and techniques to help you succeed.
Home-ownership offers immediate benefits and long-term value.
Homeowners accumulate wealth for the future while enjoying the benefits of a shelter that they can use.
Homeowners accumulate wealth for the future while enjoying the benefits of a shelter that they can use.
We’ll help identify the right opportunity and provide guidance on how to capitalize on them.
SOUTH FLORIDA, CALL Anthony Jeanty A REALTOR you can count on to deliver great results. AT: 786-709-6577
LET US BE YOUR REALTOR;WE’LL HELP YOU DISCOVER SPECIFIC HARD-HITTING, PROFITABLE PROPERTIES AND GUIDE YOU HOW TO USE REAL ESTATE IN ANY MARKET CONDITION— TO BUILD WEALTH.
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Are you planning on buying your first home but don't have a plan for doing it? That may be a mistake, because, not having a plan for success it's a plan for failure.
It's not important to rush into buying a home, because a mortgage is usually the largest debt that many people will get into in their lifetime. One property can give you a big push in securing your retirement nest egg if you plan very well when buying says Anthony Jeanty the finest real estate professional in the south Florida area..
"So it's much better to ask all the right questions, plan accordingly, and plan early," WHERE AND HOW TO FIND MONEY TO INVEST IN REAL ESTATE?
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One Year Out: Start Saving for a Down Payment
You want to own a home for example within a year, you're probably going to need to save up for closing costs and down payment. That if you don't already have cash available.. Some sacrifice will be needed to be made.Like, stop using credit cards for unnecessary stuffs, stop buying big ticket items, spend less and save more, work more on improving your credit score.
Because the higher the score, the less you will have to pay in interest, and also the more power you will have to have better deals with the financial institutions, you will be able to negotiate on your own term with an excellent credit.
Your Credit, Your credit is the first thing potential lenders will check, says Duffy, so you want to make sure it's the best it can be. And that might mean improving it or correcting errors in it.
to qualify for a mortgage you'll likely need at least a 620 credit score. For the best rates, he says you'll probably want 740 or more. According to FICO itself, the difference in the mortgage interest rate for borrowers with credit scores of 620 and 760 is more than a percent and a half. That can add up to hundreds of dollars a month.
So how do you improve your score? Assuming you are not delinquent or late on payments to creditors, both Lin and Duffy agree that your best shot is to make sure your outstanding balances on credit cards are at or below 30 percent of your available credit limit.
"If you can pay your credit cards down to 30 percent of your available credit, that will usually earn you 10 or 20 points right away," says Lin. But if you're also trying to save for a down payment, that might take time, so check your credit well ahead of applying for a mortgage.
So how do you improve your score? Assuming you are not delinquent or late on payments to creditors, both Lin and Duffy agree that your best shot is to make sure your outstanding balances on credit cards are at or below 30 percent of your available credit limit.
"If you can pay your credit cards down to 30 percent of your available credit, that will usually earn you 10 or 20 points right away," says Lin. But if you're also trying to save for a down payment, that might take time, so check your credit well ahead of applying for a mortgage.
How much will you need to save? Well, it depends. First you need to figure out how much you can afford to spend on a home. To get an idea, you can use a home affordability calculator on knowledgefinancial.com that takes into account factors such as your salary, investments, and debts.
Next you'll have to figure out how much you are able to put down on a home.
It's possible to put less than 20 percent down, but just keep in mind that you'll have to pay private mortgage insurance (PMI), which protects your lender in case of default.
If you're a first-time buyer, you can also opt to put 10 percent down and get what is called lender-paid insurance. In this scenario, the lender charges an eighth to a quarter percent higher interest rate and in turn, they pay off the entire policy. Essentially, you're mortgaging the insurance just like the home.
Because you're spreading the payment over 30 years, the payment is only about $20 to $30 a month, rather than a few hundred a month with PMI, this method is not recommended for everyone.
Once you've established approximately how much you can spend on a home, and therefore how big of a down payment you'll need, it's time to start saving.
you then divide the projected down payment amount by the number of paychecks you get in a year, and then set aside that amount per paycheck.
Another good reason to start saving now? If you're renting you may not realize that owning a home comes with a lot of upkeep and surprise expenses,
"So if you're in the habit of saving and budgeting for that down payment, you'll be successful as a homeowner, because you'll keep that habit after buying a home."
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Find Your Future Neighborhood:
- Your real estate dream start to concretize right here by contacting Anthony who's ready to provide to sellers and buyers superior level of information.
- Anthony is the South Florida finest real estate professional!
- Waterfront properties - Beachfront real estate - Bay view Homes are Anthony's speciality.
- Anthony Jeanty in South Florida is an outstanding real estate agent who's producing outstanding results.
- Luxury Homes, Residential properties, And Commercial Real Estate. Contact Anthony At: 786-709-6577
Find a Mortgage Broker or Lender and Research Mortgage Options
Now that you know the neighborhood in which you want to buy, it's time to find a mortgage broker or lender rep and look into the various mortgage options. Because, yes, there is more than just the 30-year, fixed-rate loan that everyone's so familiar with.For instance, perhaps you want to pay your home off earlier than 30 years so you can retire without the burden of a mortgage payment. In that case, you may want to get a 15-year, fixed-rate mortgage
These come with lower interest rates, and because you are paying them off in half the time, you could save tens or even hundreds of thousands of dollars in interest during the life of the loan, he says.
Or, perhaps you want an adjustable-rate mortgage. "This option won't fit most people these days, because interest rates on fixed rates are still low, historically speaking
Then there are options such as VA loans for military veterans, which come with easier qualifying and lower down payment requirements, he says.
As for finding a good mortgage broker you'll want someone you trust and who knows the neighborhood or market in which you want to buy a home. The Internet is always an option for researching lenders, of course, but you may also want to ask friends who bought homes. Referrals from people you trust are always helpful.
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Get Pre-Approved --- -MORTGAGE LOAN PRE-QUALIFICATION, LOW INTEREST RATES WITH BEST LOAN PROGRAMS,
BEST TERMS. — GET READY TO BUY!
If you think that you should find a house first before starting the mortgage process, you might want to think again. Duffy says that in this seller's market, with sometimes stiff competition among buyers for homes, pre-approval is often demanded by sellers to weed out buyers who can't qualify for a mortgage and thus waste everyone's time.A simple pre-approval means that your mortgage broker or the lender's agent has reviewed all your tax documents, bank statements, income and asset documents, credit report, etc.
That way the buyer can close faster, which is very important in a seller's market,"
In a pre-approval with a full credit approval, your mortgage rep will essentially do everything that is needed to get the mortgage, including getting the lender's underwriter to approve you for a mortgage, Then, the only thing lacking in the mortgage application is the property information.
According to Duffy, presenting a full credit approval letter lets sellers know that you will have no problem getting a mortgage to buy their home.
The other obvious advantage to this is that you know exactly how much house you can afford.
First, Duffy says finding a realtor after you find a mortgage expert, such as your lender, may sound counter-intuitive, but is actually very practical.
"Mortgage professionals tend to do a lot more transactions in a month than a realtor, so we get a good feel for who the good realtors in a particular marketplace are, what their strengths are, and who to steer clear of,"
Second, it may sound crazy, but you don't want to start looking too early, especially in markets where properties don't stay on the market for long,
"If you do this too early, you might see properties that will be sold by the time you're ready to buy," That just spells a lot of broken hearts and frustration.
But if done right, with a solid plan, buying a home can be a wonderful, well-thought-out experience. After all, the expression is Home Sweet Home, not Home Sweat Home.
In a pre-approval with a full credit approval, your mortgage rep will essentially do everything that is needed to get the mortgage, including getting the lender's underwriter to approve you for a mortgage, Then, the only thing lacking in the mortgage application is the property information.
According to Duffy, presenting a full credit approval letter lets sellers know that you will have no problem getting a mortgage to buy their home.
The other obvious advantage to this is that you know exactly how much house you can afford.
As a Certified Specialist in Real Estate Investment, As a Licensed Realtor, As a Licensed Mortgage Broker —————-
If you know someone who has intention to purchase, to refinance, or to sell a real estate property in South Florida.
PLEASE DON’T HESITATE TO REFER ME OR GIVE ME THE REFERRAL.
I will appreciate that very much.
THANKS!ANTONY JEANTY — 786-709-6577
Find a Good Realtor and Find Your Dream Home at Financial Academy School.com
Okay, time to get really serious. It's time to find a realtor. This late in the game? You might think that you should look for one earlier but that could be a mistake.First, Duffy says finding a realtor after you find a mortgage expert, such as your lender, may sound counter-intuitive, but is actually very practical.
- Home Buyers and Real Agents can turn to Financial Academy School.Com and also to Anthony's blogs for a better understanding of the entire process. But, for the people in the South Florida area; they feel free to to contact the expert directly at:786-709-6577 - Realtor, Real Estate Professional. The Agent that you can count on, the reliable real estate agent. The trusted advisor for all your real estate transactions from the beginning to the end. Experience, Knowledge, and Expertise are in your advantage...
"Mortgage professionals tend to do a lot more transactions in a month than a realtor, so we get a good feel for who the good realtors in a particular marketplace are, what their strengths are, and who to steer clear of,"
Second, it may sound crazy, but you don't want to start looking too early, especially in markets where properties don't stay on the market for long,
"If you do this too early, you might see properties that will be sold by the time you're ready to buy," That just spells a lot of broken hearts and frustration.
But if done right, with a solid plan, buying a home can be a wonderful, well-thought-out experience. After all, the expression is Home Sweet Home, not Home Sweat Home.
