Home Buyers Important Information

By now you should have looked at some of the listings I’m sending you and realize that they are updated every few hours, so that you’re always looking at current information.

Home Loans Interest Rates are low, save thousands if you buy now before they go back up.

There are a few methods for roughly estimating how much home you can afford. Ideally house payment should be no more than 25% of your gross monthly income (before taxes and deductions).

Now days a lots of people pay more than this 25% in house payments, 35% is not unheard of.

As interest rates climb the market will correct by moderating home prices, most buyers buy when they need to regardless of interest rates.

You can enter a Zip Code or City in the Search or "Discover Your Dream Home" on our main secure site and it will pull up all the Home Listings for sale in that zip code or City.

Save time click on the Heart by the pictures on the Listings I'm sending you of Homes that you like, this will place these Homes in your favorites, and they will be easier to find later, once we start looking at homes, I find that most of my customers end up choosing one of these Homes.

I can help you weather you're Buying or Selling your Home Commercial Property or Business Opportunity.

How Real Estate is Sold in Florida – What I can Do for You:

There is a Listing Agent and a Buyer's Agent, all offers are presented to the Listing Agent by the Buyer's Agent and the listing agent must present all offers to the Sellers.

Sometimes the listing agent is looking out for the interests of the Sellers, especially true at open houses, while I will be looking out for your interests.

I'll insert special wording in your Offer to Purchase with your protection in mind,  I want to make your Home Buying Journey as easy and enjoyable as possible.

PQ Letter or Pre-qualification Letter - Proof of Funds Letter if Paying Cash

I strongly suggest that you get a Pre-qualification letter or Proof of Funds Letter if Paying Cash, increasingly seller and sellers' agents prefer qualified clients, they don't want to be showing the houses to people that don't have a PQ Letter or Proof of Funds Letter.

Sellers don’t want to take their property off the market unless they know that the buyer is pre-qualified or pre-approved, so it’s very important to have one if you want your offer to be taking seriously.

I have a Mortgage Broker / Lender on my Team, that I have used on many transactions, he has made all transactions go smoothly.

Nowadays the Offer to Purchase and all related documents are signed electronically, it's convenient  and efficient this way.

The E-sign Act Granted Electronic Signatures the same Legal Status as Handwritten Signatures throughout the US

We use Dotloop for E-Sign

Esign Video Instructions from Dotloop

Differences Between a Pre-qualification Letter and Pre-approval

I Want to Get a Loan Debt-to-Income Ratios Explained

Closing Costs

The Home Inspection Why You Should Order One

How To Improve Your Credit

As soon as you get your house keys check with your local Tax Office to see how much you can save on taxes, sometimes there are deadline for filing, here in Broward it is BCPA.net

As I work for you, behind the scenes, all that I ask for in return is that when you start looking at homes that you work exclusively with me as your Real Estate Professional, if you're working with me now or plan to soon Thank you, my son and I appreciate it.

Stay Safe and Healthy

                   
        

www.AntonioOrtegaLLC.com     For Residential Properties

www.AntonioOrtegaLLC.net       For Commercial Properties
        

Visit our Website:  www.SouthBrowardHomesbyTony.com

Antonio Ortega LLC Licensed Real Estate Professional with Global Luxury Realty

Text or Call 954-648-6095

Click Here to Contact Us

Difference Between Prequalification Preapproval

It is important to at the very least get a PQ letter or "Pre-qualification Letter" so that when you submit an offer to purchase a home the seller will seriously consider it I have partnered with an excellent Mortgage Broker / Lender he is in my website my contact information is at the end of this article.

Amy and Brad immediately fell in love with the two-story with a brick patio and big backyard. They quickly made an offer and began looking for lenders. Unfortunately, they soon discovered that they couldn’t qualify for the home. They tried to find something else in their price range, but other houses paled in comparison. If only they had shopped for loans before looking at houses…

One surefire way to reduce stress during the process of home buying is to seek pre-approval, applying for a loan before finding a house. The loan agent assembles a credit package that includes a loan application, credit report, income and asset information, and supporting documentation. These documents are then submitted to prospective lenders who underwrite the file, issuing credit approval or denial.

Buyers who are pre-approved are taken more seriously than their pre-qualified counterparts. Pre-qualification is not a loan commitment from a lending institution; it is only a loan agent’s opinion that you will be able to obtain financing. Verifications are not usually made so formal approval is not issued. These days, virtually anyone can achieve pre-qual status.

Pre-approval, on the other hand, signifies that the lender has taken the application through a rigorous procedure. So, buyers with pre-approval status can basically write their own ticket.

Benefits of pre-approval:

1. If you make an offer on a home and then apply for a loan, you are at the lender’s mercy. He sets the interest rate and points, aware that you do not have time to shop around.

2. Understanding the breadth of your financial reach will save the time spent looking at houses you can’t afford.

3. Shopping for a loan allows you to settle on a house payment that fits your lifestyle. If you rely on your lender to tell you what you can afford, you may end up with a high mortgage payment. Most people can qualify for more than they would feel comfortable paying.

4. Having a pre-approval letter from a lender gives you an edge in a situation where multiple offers have been made on a house.


South Broward Homes For Sale By City Or Zip Code from Tony Ortega on Vimeo.

5. Pre-approved buyers can generally close escrow more quickly. Once you submit your credit package, most of the legwork has already been done.

Remember, neither pre-approval nor pre-qualification are absolute loan commitments. Lenders must still assess property appraisals, verify information, and, in many cases, verify credit before funding the loan.

Extremely Important:

Usually the lender wants some additional information from you, they refer to this as satisfying contingencies, make sue you respond to these inquiries right away, you want the Mortgage completely processed a few days before the expiration of the Mortgage Contingency usually 30 to 35 from Accepted Offer and before the Closing Date.

We have a an Excellent Mortgage Broker / Lender on my team for fast Mortgage Qualification, if you don't have one yet.

Stay Safe and Healthy

                   
        

Visit our Website:  www.SouthBrowardHomesbyTony.com

Antonio Ortega LLC Licensed Real Estate Professional

Text or Call 954-648-6095

Global Luxury Realty, LLC

Click Here to Contact Us