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How to have two VA Loans...At the same time!:

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If you want to buy a new home, this information will definitely help you a get a clear view about Private Mortgage Insurance. Have a look & enhance your chances to avail your desired home loan.

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Great Post on 203(K)

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We can all agree; Your mortgage is personal and you’ll be spending many years together. It’s very important to ensure that you don’t make a crucial mistake at the beginning by borrowing beyond your means. This is why I feel it's important to know, "How much mortgage debt can I afford?"-Tailored with the first time home buyers in mind.
The Message is simple, give people a greater understanding about getting started in Home buying with some tips along the way.
At the very least I hope you walk away having an increased awareness on your own situation.
Let’s get started!

First you need information – talk to someone in person or by phone, or try Social Networks. Gather as much useful information as possible before meeting with a Mortgage Planner.

Tip: You need to see a Mortgage Professional. If you’ve snagged a good "Mortgage Guy" they will usually always find a better deal than your bank will offer you.......straight up!

Assuming your credit history checks out and you have enough money for a down payment, your mortgage planner can quickly estimate the amount you’ll be able to borrow. This is the First Stage (Get Pre Approved)

Let’s assume for a second that your mortgage planner Pre-Qualifies you to borrow $350,000. What this actually means is that your mortgage planner has determined that $350,000 is the MAX amount you can borrow before exposing yourself to significant risk. This is based off your current financials. Don’t assume that you can easily afford this amount though; this is an absolute maximum amount, and you may have other financial goals to consider.

TO BE IN CONTROL, you first need to scrutinize your spending.
Not being able to keep up with your mortgage payments could cost you your home. For this reason, it’s crucial that you scrutinize your current spending data so you can comfortably go ahead with having a mortgage.
After you buy a house, your monthly expenditures will certainly increase…Fact!!!! With freedom from renting, comes new expenses – home insurance, Property Taxes, H.O.A Dues, etc.
The goal here is to identify the bulk of your expenditures. 💰 Aim to analyze roughly 3-6 months worth – eating out was a big one for me. 90 Days should generally be enough to gauge a better synopsis. If you find your monthly expenditures fluctuating greatly for whatever reason then consider extending this time to gain a better, more accurate assessment. Also, really try to cut the fat as much as possible by cancelling subscriptions and anything else you don’t need anymore. Cable TV is usually a great place to start.

Spending Analysis-YOU ARE in Control!!!💸💸💸
A template for Microsoft Office Excel proved useful in aiding me jotting down my spending data (I’ve linked to the latest version here-
I have a pretty good idea on where my money is being spent, but it definitely has proven helpful in putting a few things into perspective for me. It gave me the confidence to push forward and help learn how much mortgage debt I could afford. I think you’ll find it useful. 😎

Now that we’ve thought and (hopefully…) jotted down our current expenses, it’s time to put a saving plan into action

Make realistic changes in our lives; Get to a Better Place! 😃

Feel free to message me for more information. ☎📧📣📮 #Here2Help #AlwaysWorking

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Buying a home without having it professionally inspected is the same as buying it as-is. If you’ve ever purchased a used🚗 car from a private party, you understand that you may be buying someone else’s headaches.
The feeling that you may end up on the side of the road with a broken-down car is hard to imagine.😳
Picture that feeling to what will probably be the largest investment you make in your lifetime💲, and it’s easy to understand why the Home Inspection has become a routine and vital part of the home-purchase process. 🏡

Many People Ask Me, "Should We Skip the Home Inspection for a Better Deal?"

What an Inspection Won’t Do
We don’t buy homes frequently, so the process can be a bit confusing.The home inspection is one of the most commonly misunderstood processes in the real estate transaction.

Just as a home appraisal won’t tell you that the heater is about to give way, a home inspection won’t tell you what the home is worth.
These are two different processes, initiated by two different parties. The appraisal is Required by The lender. This instrument, the appraisal, is to ensure that the home is worth what you’ve promised to pay for it.
The home inspection is also not a guarantee that the home will be in the same condition when you take possession as it was when the inspection was performed.
The typical investigation by a home inspector is a visual one. He or she will look at the home’s roof, structure and major systems, such as plumbing, electrical, HVAC and ventilation. If an inspector can’t see an area for whatever reason – access is blocked by the owner’s belongings or it’s locked – she can’t investigate it and therefore won’t include it in the report.

What a Home Inspection Provides
Since a home is such a huge investment, it only makes sense to be concerned about its condition. A home inspection may just save you thousands of dollars. More than anything else, a home inspection by a licensed professional provides peace of mind.

The inspector will run the heating and cooling system and investigate the water heater. He has no way of knowing the condition of the wiring behind the walls, but he can test the system for shorts.

The best home inspectors will recommend further inspection by an appropriate contractor. For instance, if he feels there may be a structural problem, he may recommend that you contact an engineer. If he notices evidence of wood-destroying pests, he may recommend that you have the home looked at by a pest inspector. This is Required for VA Loans (WDO Inspection)

Should You Waive the Inspection Contingency?
In a multiple-offer situation, a buyer who waives the inspection contingency is most likely going to prevail....What seller wouldn’t relish the thought of a quicker close and fewer headaches, not to mention saving a ton of money if something happens to be wrong with the house? 😓 But, by the same token, $cash-strapped$ buyers need to know if the house they are about to buy has bad wiring, a leaky roof, a heating system on its last legs or anything else that may cost thousands of dollars to repair.

As a buyer, you have no control over whether or not the seller will clear access to the areas of the home that the inspector needs to see.

Speak to your agent to add an addendum He/ She may Have more Details.

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Another successful closing!!!

I would like to thank Janet and Patrick for their loyalty an awesome patients in working with me on getting this FHA Back to Work Program/Product closed.

Yes These loans can be closed- Easy! I'm a Mortgage Professional, that knows what it takes to close the "Tough" loans.
#NoHype All #Results
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