It's Never to Late to Own Your Own

It's never to late to own your own!   

Home, it's where the heart is.

Find a mortgage lender you can trust and go for it.  Your lender can get you qualified and also lead you in the right direction to resolved any issues that might arise.  If you don't have a banker or mortgage lender, allow me to help you make that decision. 

Create the game plan to make it happen, set a budget and stick to it.   Budgets and limits are never fun, a fact that might surprise you; everyone has one " a Budget" that is.  Anyone who wants something has to have a solid plan to achieve it. 

Select your agent and commit to that agent.   If you call several agents fishing for information none of them will be working for you at that point.  They all work for the seller until you commit to the working relationship.  Never disclose any information about your situation or financial status.  It can be used to benefit the seller.  If you haven't selected your agent proceed with caution.  

Once you have selected your mortgage lender and agent, make an appointment with each to establish what you want? The price that is comfortable for you on a monthly basis.  The particulars that you are looking for in your new home and how long it will take to achieve it. 

Be patient and work the plan, never lose site of the goal and allow the team you have selected to work for you.    The end result will be Home!

Did you know that the rooms that sell a home are-- The kitchen and dining room.  So if you are about to put your house on the market, make those rooms shine.  


Start with a fresh coat of paint, rearrange the dining room, update some of your fixtures, clean, clean, clean .  


If you can't update with new appliances which most of us can't, make sure it looks light, bright and make what you do have looks it's best.  


Most people touring your home will know instantly if you have cared for your home and kept it maintained.  


So make the first impression the best it can be.  It will be the tie breaker on the short list of house choices.  

Real Estate Your Way!

Hello everyone,

I was thinking today about what it means to be able to purchase a home.  I remember the first home my husband and I purchased.  We were young, with two small children.  Yes it took a while for us to take the first step to home ownership.. I was so excited and ready to put our hard earned money to good use..equity... our equity....we saved and looked within our budget and what we could afford.  To our pleasure we realized there was a lot out there to choose from.  We had a great agent and purchased our first home.  My husband use to get mad at me for saying I paid the rent, and he's say it's not rent it's our house payment.

We would still be there today if we had not moved to New Mexico, but we did and purchased our second home.  The process was a little different, the price was higher and we were new to the area. 

Then we got the opportunity to move back to Lubbock and purchase our third home where we are today. I actually didn't like the house we chose, we had to buy in a certain price range due to capital gains tax still being in effect.   We had a great agent and we had to make concessions on what we wanted versus what we could afford.  We wanted square footage and fireplace and the list goes on and on.  I like the house very much now, it's our home.

My point is this, a house is something you buy and a home is a place where you live, laugh and love.  Take the first step and get pre-qualified, plan and be honest in the process.  Set your goals and work on one issue at a time. Credit issues are an issue most of us have had.  There no need to be ashamed or embarrassed.  Buying or selling is a process and in order to experience the excitement you Just Have To Do It. 

The reality is that most of us are not savers, we're spenders.  But you need to know that the interest rate is excellent right now especially with a excellent credit score, even it your credit score is not so great.  The rate is still amazing and for the first time in a long time worth the effort. 

Stop giving your money away and put your hard earned money towards your equity. (equity is money you will get back if or when you sale, it's like a saving account or secure funds)  Accomplish your home ownership dream and find an agent that will help you in the process.    I would be honored to be that person.  But if not your chosen agent, I'm still excited that your taking the plunge.  It's worth the efforts and after you do it, call me and we can have coffee.

This Month in Real Estate

Budge Worksheet

Budget Basics Worksheet

The first step in getting yourself in financial shape to buy a home is to know exactly how much money comes in and how much goes out. Use this worksheet to list your income and expenses below.

INCOME
Take Home Pay (all family members)
Child Support/Alimony
Pension/Social Security
Disability/Other Insurance
Interest/Dividends
Other
Total Income
EXPENSES
Rent/Mortgage (include taxes, principal, and insurance)
Life Insurance
Health/Disability Insurance
Vehicle Insurance
Homeowner’s or Other Insurance
Car Payments
Other Loan Payments
Savings/Pension Contribution
Utilities (gas, water, electric, phone)
Credit Card Payments
Car Upkeep (gas, maintenance, etc.)
Clothing
Personal Care Products (shampoo, cologne, etc.)
Groceries
Food Outside the Home (restaurant meals and carryout)
Medical/Dental/Prescriptions
Household Goods (hardware, lawn, and garden)
Recreation/Entertainment
Child Care
Education (continuing education, classes, etc.)
Charitable Donations
Miscellaneous
Total Expenses
Remaining Income After Expenses
(Subtract Total Income from Total Expenses)

What you can do to improve your credit

Credit scores, along with your overall income and debt, are big factors in determining whether you’ll qualify for a loan and what your loan terms will be. So, keep your credit score high by doing the following:

1. Check for and correct any errors in your credit report. Mistakes happen, and you could be paying for someone else’s poor financial management.

2. Pay down credit card bills. If possible, pay off the entire balance every month. Transferring credit card debt from one card to another could lower your score.

3. Don’t charge your credit cards to the maximum limit.

4. Wait 12 months after credit difficulties to apply for a mortgage. You’re penalized less for problems after a year.

5. Don’t order items for your new home on credit — such as appliances and furniture — until after the loan is approved. The amounts will add to your debt.

6. Don’t open new credit card accounts before applying for a mortgage. Too much available credit can lower your score.

7. Shop for mortgage rates all at once. Too many credit applications can lower your score, but multiple inquiries from the same type of lender are counted as one inquiry if submitted over a short period of time.

8. Avoid finance companies. Even if you pay the loan on time, the interest is high and it will probably be considered a sign of poor credit management.

This information is copyrighted by the Fannie Mae Foundation and is used with permission of the Fannie Mae Foundation. To obtain a complete copy of the publication, Knowing and Understanding Your Credit, visit www.homebuyingguide.org.

This Month in Real Estate