Smooth Closing
Mortgage Brokers Will Offer You the Lowest Rates Possible When it comes down to having a smooth mortgage transaction that saves you the most money, mortgage brokers are the way to go. Not only do brokers have decades of experience in the mortgage field, but they will do everything they can to assure you that [...]
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How do I know if I am prepared for my Closing? Whether you are preparing to close on a purchase or a refinance transaction, it is always important that you understand the scheduling of the “Close” for the loan. Michigan is a Non-Escrow state, which means documents are dated for a specific date and borrowers [...]
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Can Seller Concessions help me buy a home? Seller Concessions are a set dollar amount or percentage of the purchase price that a seller agrees to contribute to you, the buyer, towards your closing costs. This can help to either lower the amount of money needed to bring to the closing table, or sometimes allow [...]
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Know What Makes Up The Cash To Close On Your Home Loan We believe that all clients need to fully understand what it takes to close on their home loan. The cash needed to close has consistently provided confusion in all borrowers’ minds. Understanding what this consists of will better prepare you for the mortgage [...]
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Be Prepared To Close On Your Home Loan Well, you almost made it. You have been on quite the ride on the mortgage roller coaster, from bank statements to paychecks, explaining bank deposits to verification of employment. You are near the end of the mortgage process and are preparing to close on your home loan. [...]
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Verbal Verification Of Employment Is Required To Close Your Home Loan One of the more common snags to closing on your home loan is the verbal verification of employment. Prior to closing, your employment verification will need to be verified by a Human Resources or Payroll representative at your company. If you are self employed, [...]
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One of the more common snags to closing on your home loan is the verbal verification of employment. Prior to closing, your employment verification will need to be verified by a Human Resources or Payroll representative at your company. If you are self employed, the lender will be calling the accountant who prepares your tax [...]
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We are seeing a number of Pre-Approved buyers who placed offers losing out to competition. Here are the some of the tactics that buyers and agents were considering when placing an offer. 1) Conventional Loans are more appealing than FHA ► This is not the case. The house is either in good shape or it [...]
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The chief economist for NAR has recently sighted that contract failure rates have hit a staggering 33%, up from 18% the prior month. NAR claims the main reason for this is due to declined mortgage applications and appraised values. This is not making any sense to us as lending guidelines continue to open up making [...]
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Our experiences have identified a few key employment issues for past buyers that were already pre-approved. Buyer was transferred here to Michigan with same employer Need 30 days of pay stubs at new location Results in DELAYED CLOSING Buyer changed employers after initial pre-approval was done Income now commission based Results in DELAYED CLOSING Buyer [...]
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