Category — Uncategorized
Preserve Your Financial Status to Close on Your New Property
Most new homeowners are quite careful about their spending and credit in the months and years leading up to a home purchase. Homeowners budget and save, and avoid making unnecessary credit inquiries in order to qualify for a home loan. What many people don’t realize is that qualification doesn’t equal a successful closing. When you’re buying a new home, make sure you preserve your financial status all the way through closing to make sure you don’t compromise your loan.
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September 7, 2010 Steve SchraderBachar is a local mortgage planning expert who resides in Iowa and provides service to the clients of his mortgage planning practice across the Midwest. You can reach Steve at 1-515-289-4381 or 515-360-5197.
Reduce Your Debt to Boost Your Qualifying Power
One large factor in being approved for a home loan is your debt relative to your income. For many people, it may not be an easy task to boost income, and you’ve got to demonstrate an increase in income over time to have it count for mortgage qualification. Reducing your debt is a faster solution; you can achieve results within months instead of years, and the effects are positive and far-reaching.
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September 2, 2010 Steve SchraderBachar is a local mortgage planning expert who resides in Iowa and provides service to the clients of his mortgage planning practice across the Midwest. You can reach Steve at 1-515-289-4381 or 515-360-5197.
Create a Paper Trail to Document Your Financial Health
It doesn’t matter how successful you are, financially – if a lender can’t see it, your financial success doesn’t count. You could have a six-figure income with no debts and a great stock portfolio, but unless you can show documentation to the lender, it won’t matter. Create a complete, easy-to-follow paper trail to demonstrate your financial health when you’re ready to buy a home.
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August 31, 2010 Steve SchraderBachar is a local mortgage planning expert who resides in Iowa and provides service to the clients of his mortgage planning practice across the Midwest. You can reach Steve at 1-515-289-4381 or 515-360-5197.
Lift Your Qualifying Income to Boost Your Home-Buying Power
One of the big things lenders look at when they’re deciding whether to approve a home mortgage is your qualifying income. Your income has to be high enough to cover all of your financial responsibilities; most lenders look for a ratio based on percentages of your total income. If the mortgage for the home you want to buy would be too high based on your income, you might not be able to qualify for the mortgage. One way to boost your borrowing power is to lift your qualifying income.
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August 30, 2010 Steve SchraderBachar is a local mortgage planning expert who resides in Iowa and provides service to the clients of his mortgage planning practice across the Midwest. You can reach Steve at 1-515-289-4381 or 515-360-5197.
Make Home Ownership Your First Priority
Buying a home is something that most people plan for a long time. Many people rent apartments for years while they wait to be in the financial position to buy a home, and decide where they want to settle down. Ultimately, this strategy can cost you valuable time and money. You could lose years of opportunity to build wealth by renting, so make home ownership your first priority in your quest for financial success.
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August 26, 2010 Steve SchraderBachar is a local mortgage planning expert who resides in Iowa and provides service to the clients of his mortgage planning practice across the Midwest. You can reach Steve at 1-515-289-4381 or 515-360-5197.
You Control Your Buying and Investing Power
As a home buyer and as an individual, you need to understand that you control your buying and investing power. The estimates that you get from lenders only shows a small portion of your financial life, shown through the lens of that lender’s product. It’s up to you to take a big-picture view of your buying and investing power, both in the present and in your future. Don’t rely on lenders to tell you what you can and cannot do; decide for yourself what you can afford and plan your life according to your vision.
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August 24, 2010 Steve SchraderBachar is a local mortgage planning expert who resides in Iowa and provides service to the clients of his mortgage planning practice across the Midwest. You can reach Steve at 1-515-289-4381 or 515-360-5197.
Envision the Properties You Want to Own
The key to achieving long-term success is to have a plan. You need to know where you want to be in 5, 10 and 20 years in order to begin working toward those goals. The same thing applies to home ownership. Envision the properties you want to own in 5, 10 or 20 years. Do you want to own a single-family home for the rest of your life, or do you want to own real estate as an investment and source of income? Is there a certain type of property you want to own, or properties you’d like to generate income?
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August 23, 2010 Steve SchraderBachar is a local mortgage planning expert who resides in Iowa and provides service to the clients of his mortgage planning practice across the Midwest. You can reach Steve at 1-515-289-4381 or 515-360-5197.
Tell Yourself the Right Story to Achieve Financial Success
Buying a home presents a lot of challenges at the best of times. Buyers must find their dream home, make an offer, negotiate a price and get financing. For more and more families, obtaining financing presents its own challenge.
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August 19, 2010 Steve SchraderBachar is a local mortgage planning expert who resides in Iowa and provides service to the clients of his mortgage planning practice across the Midwest. You can reach Steve at 1-515-289-4381 or 515-360-5197.
Big Ways to Save Big Dollars for Your Home Downpayment
Saving money for a downpayment on a home is the biggest hurdle to home ownership that many people face. In our consumer-driven society, saving money is difficult at the best of times, and can be downright impossible when stakes are high and you’ve got to save a big dollar amount. If you’re thinking of buying a home but not sure how you’ll ever save enough money for a down payment, consider these strategies:
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August 17, 2010 Steve SchraderBachar is a local mortgage planning expert who resides in Iowa and provides service to the clients of his mortgage planning practice across the Midwest. You can reach Steve at 1-515-289-4381 or 515-360-5197.
Consider Creative Housing Options to Generate Wealth
The American dream is the beautiful single-family home with the white picket fence, 2.7 kids and a dog. Most homeowners buy their homes with some variation of this dream in mind. They buy a single family home with room to expand if they’re expecting a family, or an idyll with a scenic view as a beautiful getaway. While this is the traditional view on owning a home, it’s not necessarily the most effective view; consider creative housing options to generate wealth.
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August 16, 2010 Steve SchraderBachar is a local mortgage planning expert who resides in Iowa and provides service to the clients of his mortgage planning practice across the Midwest. You can reach Steve at 1-515-289-4381 or 515-360-5197.
