A Guide for Consumer Choice in Your Next Mortgage

Three Easy Tips for Home Financing

Posted by Joel Asbury on Tue, Jul 10, 2012 @ 01:16 PM

Tip 1: Analyze Your Income 

closing-the-mortgage-deal

 

Before you reach the agreement with all parties involved in your transaction, here are some things to think about that will help you reach that goal:

  1. The most common myth is that you have to have 20% down in order to secure your home loan. There are many new programs available with reduced down payments specifically for those people seeking a home, but don't think they can afford the down payment. We have access to those programs other mortgage companies may not have even thought about offering.
  2. Be sure to maintain your credit score (if it is good) or ask your loan officer about programs to help improve it so you can more easily qualify for whatever loan you seek.
  3. Use your loan officer as a coach. He/she has made him/herself available for you to help you get through the sometimes confusing process of securing your home loan. At Winterwood Mortgage, we strive for excellence with every borrower. We will work with you to help secure your loan so you can get back to your every day life. As a Christian-based organization, our faith and morals help ease the worries that brought our country into a recession in 2008. Our honesty and integrity means you have piece of mind that we will work for your needs ahead of our own.

Tip 2: Check into Available Programs

Winterwood Mortgage offers many programs that will help you succeed in your next home financing endeavor. Two of the most current programs are below:

  1. FHA Streamline Program: Do you currently have an FHA mortgage that was approved and accepted by FHA by May 31, 2009 or before? If so, you may be able to refinance your current loan with little to no effort on your part. Follow this link for more information about the program.

  2. HARP 2.0 Program: This program is more liberal on credit and income guidelines, has no restriction on equity in your home, and is currently supported through Fannie Mae. If you do not know if your home is owned by Fannie Mae, follow this link to find out. The same guideline as the streamline program applies as far as the loan must have originated on or before May 31, 2009.

Tip 3: Documentation is Important

Home loans always come with some preparation on the borrower's account. The process begins with gathering your necessary documents relating to your personal finances. Tax returns, pay stubs, liabilities & debts you already own, etc. Your mortgage transaction will always be so much smoother if you have these documents at the ready when you are thinking about financing your home.

Follow this link to download our whitepaper that lists all of the most common documents you need in order for us to facilitate your loan. If you come prepared with these documents, you will show your loan officer not only how serious you are about your new loan, but also that you've read this post!

At Winterwood Mortgage, we're committed to educating you on what can be the largest purchase you will ever make in your life. Following these easy home financing tips will guarantee you are on the right track to your dreams. So what are you waiting for?

Tell Me More!

Topics: mortgage tips, home financing tips, FHA Streamline, HARP, easy mortgage

About Our Authors

tony.jpg

Tony Gregory regularly contributes to this blog. He is an experienced loan officer in both residential and commercial lending from a commercial banking background. He participates daily in the economic and political activities that continue to shape this industry. You can email him directly at:

tonylends1960@gmail.com

Joel Asbury is Sr. Vice President of Compliance Operations for Winterwood Mortgage Group, LLC as well as a licensed Loan Officer. He regularly consults potential clients for the Sales Team while maintaining relationships with former ones via multiple marketing channels as well as developing new business through new lending channels. You can contact him directly:

jasbury@winterwood.net

Linda_Begley.jpg

Linda Begley regularly contributes to this blog as a Reverse Mortgage Commentator. She has been a teacher in the Public School and Private School sectors, but then after retirement decided she could no longer take not being able to teach! It is her life passion to educate, which she carries on with her Reverse Mortgage seminars for not only the Public Sector, but the Financial Planning and Accounting business sectors as well. Linda has recently rejoined Approved Mortgage A Winterwood Mortgage Group as a Reverse Mortgage Consultant. Email her today at:

lbegley@approvedmortgage.com

We will do everything we can to help you succeed in your next home mortgage endeavor.

Please subscribe via E-mail below to get updates every time we post a new article. You don't want to miss any of the information we provide you because we are 100% committed to educating you about today's home mortgage.

Or, follow Us on Twitter for up to the minute news, ideas, and discussion.

Winterwood Mortgage has 17 followers on Twitter

Subscribe via E-mail

Latest Posts