New rules to protect home buyers starting to add delays and cost

New rules to protect home buyers starting to add delays and costs

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My Online Magazine

Real Estate Essentials

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The DON'Ts of purchasing a home

If you hare looking into purchase a new or used home, here is a list of DON’Ts  during the holiday season…

 

• Don’t spend your Down payment,
• Or your Reserves (savings needed to qualify)
• Funds for credit repair
• Don’t overdraw your checking account
• Don’t take out loans
• Don’t get your credit pulled
• Don’t accept CASH gifts and deposit into your account w/out consulting with your LO first
• Don’t drop your job for a holiday season gig
• Don’t Co-Sign for someone else to finance anything…

For more information, call Jesse Rene Garza at (210) 663-4092

Documents needed in the purchase of a new or pre-existing home

The purchasing of a new or pre-existing home can be intimidating, but there are steps that you can take to make the process easy and seamless for you and your family.

The following is a list of items that majority, if not all, of the mortgage companies will need secure your loan when purchasing a home.

• Pay Stubs for the most recent 30 days
• W2/1099 for the most recent two years
• Federal Tax Returns for most recent year, if self-employed or receiving rental income
• Proof of disability, retirement or social security income with copy of award letter
• Complete asset statement (all pages, ie: Savings, 401k) for the most recent 60 days
• if currently renting, name and phone number of current landlord
• Mortgage & HOA statement and homeowners insurance for all properties owned
• Name and phone number of homeowners insurance agent
• A legible copy of a driver's license for all customers

VA Loans

• DD214 or active Military Statement of Service
• The name, address and phone number of nearest living relative
• The monthly amount you pay for childcare, if applicable

If you have any questions, please do not hesitate to call Jesse Rene Garza at (210) 663-4092.

Thank you for reading my blog and I am looking forward to working with you in the near future.

Jesse Rene Garza

(210) 663-4092