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Hello and thank you for joining the total lending Concepts Mortgage Show beginning Section 1 where’s the example. Your rent is currently ,000 per month and you’re thinking about buying ,000 home. If you put down 20 % and borrow ,000 7 % on a 30-year fixed rate. Your principal and interest payment, or about a month think about this when applying for a Tulsa mortgage, talk to assume that property values are increasing in your area by about 5 % per year. What situation after two years, if you rented you paid someone else ,000, if you owned and itemize your federal income taxes, you likely deducted over ,000 ,600 in mortgage interest on your income taxes. You also paid your loan down by over ,500 while at the same time increasing your Equity position in the house by nearly ,000. Now you see why those calculators always tell you to buy a home through all these calculations. Remember the real reason for buying you buy a home because you want to because you like the place. It’S your home and home is one of the largest single Financial commitment. Someone can make a while. I agree with that statement. Let’S not go overboard here. Buying a house – because you want to not – because some calculator told you so think about this when applying for a Tulsa mortgage, Colorado Springs Mortgages alright section 1.3. How soon should I search for a house? That’S easy start doing some research on your own on the internet. Even before contacting real estate agent, the internet was invented for any particular industry. It has to have been for Real Estate for the World Wide Web was born, one could typically locate houses. Colorado Springs Mortgages Only in the newspaper on the weekend, if you saw a house that you like you’d contact agent sign out, then came the endless cycle of driving around in a real estate agent car looking at houses until finally finally found a home. You wanted to buy. Keep this in mind when thinking about a Tulsa mortgage, the internet has helped agents become more productive by letting consumers do a little shopping first before they get serious enough to use an agent and agent who advertises the house is called the listing agent because he puts The house on the MLS system for sale on the multiple listing services – that’s what’s called MLS – think about this when looking for a Tulsa mortgage agent will show you the home and ask you if you’re using another agent, if you aren’t the agent will ask you if You would like to see other homes for sale.

You of course say yes in the agent then becomes a buyer’s agent as well hoping hoping that you will also find a house to buy and not just listing that house for sale that can double-dip there. You give your agent your requirements for your dream home, such as four bedrooms on a cul-de-sac with a swimming pool your agent within scoured the MLS, and continue the search for homes after the search you’d both get the agents in in the agents car and go see. The homes certainly a viewing the home on the web both gives both you and your age and a head start, though, think about this one. Looking for it till some mortgage, you only look at homes, you’re interested in the agents not dragging all over town. To look at home if you’d never buy, your agent spends more time selling your listing homes in less time driving all over the place. You can start with realtor.com at this official site of the National Association Realtors. You can search for homes anywhere in the country or across town using home listings from your local newspaper to your local or even National, real estate brokerage. It’S really cool you simply log on to the site choose where you want to live in, select your preferences, like four bedrooms in this ZIP code in this price range, with a pool or or without, and so on. Next thing you know: they’re, there are your potential dream homes right in front of your computer screen. Colorado Springs Mortgages Think about this. When looking for a house mortgage some sites even have virtual tour showing different views of the house. This way you can see what homes are selling for and what’s generally available, section 1.4. When is a good time to buy a home. Have you ever heard a real estate agent say that it’s a bad time to buy? I haven’t it’s: either the market talk by now before prices go up further or it’s a buyer’s market right now make an offer, while the deals are good. Come on. Agents need to make money to write a good time to buy, is when you, and only you decide that it’s the right time think about that when you’re looking for it till some mortgage. When I move from San Diego California, to Austin Texas, I knew I wanted to live in Austin, but I really had no idea about where to live within the area. Awesome great town with a lot going on, but I knew nothing about. There is traffic schools or where the best dry cleaners were.

I know that there are plenty of tools out there to help make decisions and there are many relocation experts that can help, but I picked out a house to rent for about a year instead of buying. I wasn’t ready to buy why well, I did not did no often, but I didn’t know Austin. I couldn’t have found certain things about living there. I also knew that, if I bought in Austin, I would most likely soon be moving out of that house to the area where I determined. I really wanted to live. Keep this in mind when thinking about it. Tulsa mortgage worked out great. Now, when I go to work in the mornings, my commute is quick. The kids are in a Blue, Ribbon School District and we’re close to downtown, while, while in a nice, quiet neighborhood lucky me right. Well maybe, Colorado Springs Mortgages but I don’t think I would have been so lucky if I did tried to buy a house in the city right off the bat without first living there, sometimes just reading a book about something doesn’t make it feel real living there does, though, if there Is something that tells you Wham by house? No, of course not, but perhaps one of the best ways to know if it’s a good time to buy or not it’s the fact that it, if you’re, even thinking about it in the first place, it’s a good time to buy. When and if you’re ready and a bad time to buy, if you’re not don’t get pushed into homeownership ever keep this in mind when thinking about a Tulsa mortgage too many people get caught up in real estate, valuations home price Cycles in the number of homes listed By in the winter, instead of the summer and so on, while these are all useful considerations, they shouldn’t make that much of a difference. When all is said and done. Yes, it’s easier to find some remove if you have kids and you want them to start at a brand new school at the beginning of the school year. Of course yes and yes, Colorado Springs Mortgages home prices might be a little softer in the winter time, then in the spring or summer because of sea salt man. And yes, it might be a good time to buy, because the market is soft and thighs will certainly appreciate. But don’t get caught up in all that, especially when you’re looking for a Tulsa mortgage, at least not to the point of paralysis, there’s no right answer. Certainly, these things should be taken into consideration, some point, even more so if you’re real estate investor, who studies the market trends and buys and sells homes frankum, but if you’re, just looking for your first home, don’t get bewildered by such facts. Colorado Springs Mortgages Keep this in mind when looking for a Tulsa mortgage buy home because you want to, rather than for an investment, Colorado Springs Mortgages buy a home that you can call your own begin saving for the future by building Equity.

But by from the heart, while you’re using your head, don’t buy because some real estate Guru told you that you should shouldn’t you could make millions in real estate book stores and late-night infomercials have enough on real estate, investing if you’re reading this book, because you want To become a real estate Tycoon, well, you bought the wrong book. Think about this when looking for Tulsa mortgages, section 1.5, what’s the difference between being prequalified and pre-approved for you get into any agents car the first thing: you’ll be asses if you’ve applied for a mortgage and been prequalified and pre-approved, those terms may sound similar. But it’s critical that you know the difference in pre-qualification is typically no more than a conversation with the loan officer who asked you about your job, how much you make and what kind of car payments in so long you might have the new house payment is below A certain percentage of your gross income in your total debts that is all under a certain percentage of your gross monthly income. Colorado Springs Mortgages Then why lie you’re pre-qualified used to be that after such conversation, loan company would issue a pre-qualification letter stating that, yes, you can afford the house payments, that’s pretty much about it. On the other hand, if you want to determine whether a lender thinks you can afford a particular debt load and that’s probably not all you need, but if you’re getting serious about all this and you’re ready to shop for houses, then pre-qualification means little. You need to take the next step, which means getting pre-approved. Pre-Approval verifies all the information you provided at this point. Your credit report is run not merely to verify the amount of total debt but check whether your credit is up to par for a particular loan request. Your pre-approval, the income you verbally gave the loan officers now verified by a third-party, are reviewing your paycheck stubs or a recent WW2. Your down payment and closing cost funds are verified by reviewing Banks or investment statement showing that you’re required funds are sitting in the bank somewhere just busting to get out. This is your pre-approval, it’s nothing more than a verified pre-qualification, but it’s also nothing less than what your real estate agent or home seller wants to see. Think about this one! Looking for a Tulsa mortgage,