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• Four Things to Avoid When Purchasing a Home

  The joys of homeownership are sometimes shot by first and multiple time homebuyers who forget the changes in financing. There are four things to avoid before applying for a mortgage and even during the loan process (until you close). Each one can greatly impact your ability to qualify for a mortgage loan so buyers, please be careful. If you are contemplating the purchase of a home or are already in the process of doing so, be aware that your mortgage lender will continue to evaluate your ability to qualify for financing from the time of your application through the actual closing of the transaction. Read More... Posted Monday, April 26, 2010 9:44 AM by Diego Jaramillo | 0 Comments Filed under: Lending Process, buyers, Loan Checklist, mortgage, buying in Houston

• Appraisal Changes for Conv Loans Start May 1, 2009

  Buyers usually debate between conventional and FHA financing when purchasing a home. Sellers are usually on pins and needles during the appraisal period waiting on a confirmation on their home valuation by an appraiser. This Friday marks an important date for HVCC – Home Evaluation Code of Conduct. The regulation is effective May 1, 2009 with possible delays (hopefully). What is the HVCC you may ask yourselves? In short, it establishes guidelines for appraisals made for conventional financing. For those that qualify for FHA financing, this will be another incentive for going FHA. Read More... Posted Thursday, April 30, 2009 9:58 AM by Diego Jaramillo | 0 Comments Filed under: Buyer, Buying Process, Loan Checklist, Appraisal

• The Loan Application Process

  The loan application is usually the most frightening part of the Buying Process. One question I get asked frequently is "What should I expect when applying for a loan?". The following information is a good rule of thumb to consider when applying for a good loan for your new home. It is usually recommended that you get a pre-approval letter to submit with your offer to present a solid offer to the Seller. Preparing in advance will make the loan application process flow quickly. Read More... Posted Wednesday, December 31, 2008 8:40 AM by Diego Jaramillo | 0 Comments Filed under: Lending Process, Buyer, Buying Process, Loan, Loan Checklist