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TOPTENnewhomes.com

TOPTENnewhomes.com

This author TOPTENnewhomes.com has created 14 entries.

Purchase the Newly-Built Home Of Your Dreams In Five Easy Steps

Purchase the Newly-Built Home of Your Dreams In Five Easy Steps

Buying new home construction can differ greatly from purchasing a previously lived-in dwelling. While buying an already-established home entails working with prior owners, those interested in newly-constructed properties will be dealing directly with the builder. This can actually work to your benefit, as many owners increase their selling price based on an emotional response to all the great memories created in their home.

However, other more practical concerns will also play a significant role. These include things like setting up financing and establishing a realistic budget, as well as acquiring pre-approval from a bank or other financial entity. Buyers must also consider less obvious expenses related to property taxes and maintenance costs, which can add up quickly. Failure to evaluate each detail on its own may result in a much higher final cost than initially expected.

Because the overall process can be quite challenging, those interested in purchasing

Things To Remember When Working Toward A New Mortgage

What to Do While Waiting for Your Loan Application to Be Approved

There are few periods of financial change as substantial as applying for a home loan. It can be a very confusing time, so it important to keep all the information straight. You never know what will affect your approval, so it is best to play it safe during this turbulent time. Keep this list of things to remember when working toward a new mortgage in mind to help the process run smoothly.

Save Everything

If you keep a copy of every single paper, it will be beneficial for several different reasons. First of all, a lot of information is required of you, so if nothing else, having your documentation handy and organized will speed up the process of applying for a loan. In the worst case scenario, your documents or forms could be lost by the lender, but if you are responsible and keep copies,

Five Things To Remember When Considering New Home Construction

Five Things To Remember When Considering New Home Construction

As many home buyers are already well-aware, the real estate market has been on an upswing as of late. Despite
this encouraging development, the housing inventory remains rather tight, which can greatly impede buyers when searching for the homes of their dreams. In this respect, new home construction can be quite appealing,as obtaining a newly-constructed property allows owners greater input into the way a home is designed and built.

All over the country new homes are being built every day, which provides many great opportunities for investment. While this may benefit some buyers, purchasing newly-built properties may not fit into the lifestyle of every potential homeowner. When considering the purchase of a new construction, keeping the following five items in mind can help determine whether this option will work best for you.

1. Early Buyers Are Often Privy to Better Prices

Creating positive buzz can be vastly important to many builders. Getting a number of homes contracted

There’s No Place Like Home – The Why Or Why Not Of Building A New Home

There's No Place Like Home - The Why Or Why Not Of Building A New Home

So you’ve decided to buy a home – congratulations! For many people, this is the biggest purchase they will make over the course of a lifetime. Because of this, however, there are some associated stresses due to what’s plausibly a long and difficult process. You may be wondering whether you should buy an already existing home, or build one yourself. Here are some pros and cons of each potential decision.

Pros of Building Your Own Home:

Customization

If you build your own home, you are in the unique position of being able to direct a vast array of choices. You can essentially get the house to be very close to, if not exactly, the way you want it. Your developer or builder will work with you, and you can direct him or her on things such as paint colors, wall placement, etc.

Newness

Most homebuyers prefer building a home or buying

Mortgage Checklist – Your Handy Mortgage Checklist For Your Loan Application

Applying for a home loan is a complicated process that requires you to be organized and save every form and paper. You never know what will be important at some point in the future. You should always make copies of everything associated with your application, but it can be tough to decide what preexisting documents are important. This mortgage checklist can help you make sense of the more general documentation that you should save when applying for a loan.

Income Verification

The first information you should gather is your payroll stubs. Your income is one of the most important details a lender is interested in. Try to find your payrolls for at least the last 30 days. It is also very useful to have your tax returns and any W2 forms handy. Other income related documentation that could be important include:

  • Pensions
  • Disability
  • Social Security
  • Child Support
  • Alimony

Top 10 Tips For Buying New Construction

Top 10 Tips For Buying New Construction

Top 10 Tips for Buying New Construction

Purchasing new home construction requires a more thoughtful approach than typically associated with buying an already-established dwelling. This is because there are many diverse factors a buyer must take into account to ensure they are fully satisfied with the acquisition. Everything from the area where a property is located to selecting an experienced agent should be considered before making any lasting decisions.

A bit of planning and forethought will help virtually all buyers obtain the property of their dreams. Employing the following tips can lead buyers on the road to their new home, while also assuring they receive the best possible value for their money.

  1. Prior Research Is Crucial

Getting a read on your builder’s reputation is a must, which requires doing a bit of research. Online reviews are ideal in this case, because they can allow you to identify trends in your builder’s previous working

What Does Your Credit Report Mean About Your New Mortgage

What Does Your Credit Report Mean About Your New Mortgage

Raise Your Credit Score, Lower Your Mortgage Rate

What does your credit report mean about your new mortgage? Quite a bit, actually. Your credit report is used by a lending company to figure out the program you can be qualified for as well as the interest rate for which you are eligible. This report contains a compilation of your information such as loans or credit accounts currently active, bankruptcies, late payments, judgments made against you, inquiries from potential creditors, and more. It offers insight into your financial history as well as your payment patterns.

Creditors use the credit report to decipher your credit score. As that score creeps up, your interest rate can drop. Here are a few things to do — and a few not to do — to clean up your credit report and keep it mortgage loan friendly.

Payments

Making payments on time is one of the most important things you can

Moving In, Moving Smart: How To Get Financially Ready For A New Home

Buying a home is a major milestone in the lives of most people, signaling adulthood, responsibility, and security. Make sure you know how to get financially ready for a new home by following a few simple tips.

Check your credit.

This is a refrain you’ll hear over and over again and for good reason. Your credit score is the first thing mortgage lenders will look at and is an absolutely critical factor in determining your interest rate. The best rates go to people with FICO credit scores over 740. Even a one-percent reduction in your interest rate can shed thousands from your housing payments over the life of a 30-year loan.

Save for a down payment.

Lenders generally like to see a down payment of at least 20 percent. If you have saved this much, fantastic—you’ve greatly reduced your interest payments over the next few decades. However, if you don’t have substantial savings, don’t despair.

Homeward Bound: Easy Steps To A New Mortgage

When you find a home you love, you’re probably ready to move in right away. Unless you’re a multimillionaire, you’ll probably need financing (aka, a mortgage) to purchase the house of your dreams. Though the mortgage process can appear daunting, below are some easy steps to a new mortgage that will help you obtain your dream home.

1.  Seek preapproval

Preapproval from a lender is one of the best steps you can take to secure a mortgage. What are lenders looking for? In general, they want to see borrowers with a stable income and a low debt-to-income ratio. If you have significant debt, such as student loans or credit card debt, focus on paying it off before you set foot in a mortgage lender’s office. It will make the approval much easier by boosting your credit score and freeing up more of your income for house payments.

2. Complete a full mortgage application

Once you’ve

Choosing The Right Loan For You

Choosing The Right Loan For You

Choosing the Right Loan Made Easy

Finding the proper financing for your new home can be stressful. Choosing the right kind of loan is vital, however. Everyone’s situation and needs are unique and there are many different kinds of loans to best accommodate as many people as possible. The specific distinctions are confusing, but they are divided into easy to understand categories. By researching ahead of time, you can have a better understanding of what your down payment, interest rates, and monthly payments will look like, which allows you to better plan for your future.

Fixed or Variable Rate Loans

The most basic distinction between loans is whether it has fixed or adjustable rates. Fixed rate mortgages are very straightforward, and are likely what you think of when you imagine a loan. When you agree to the mortgage, the rates are established for the entire duration, usually either 15 or 30 years. Your monthly payments and down