3 Crucial Questions Most Home Buyers Don’t Know the Answer To...DO YOU?
Whether you are considering the purchase of your first home or trading up to the home your family frequently fantasizes about, there are three crucial questions you must know the answer to:
What is theminimum down paymentrequired to purchase a home?
What is theminimum FICOscorerequired to qualify for a mortgage?
What is themaximum Back-End DTI Ratioallowed?
A survey conducted byFannie Maerevealed startling information: most Americans don’t know the answer to these three crucially important questions. Here is a graphic showing the results of the survey:
The percentages are quite disturbing but can explain why so many peoplebelieve they are not eligibleto purchase a home whether it is a first home or a trade-up home. Here are the actually requirementsas per Fannie Mae:
If you are considering purchasing a home, make sure you are aware of all your options before moving forward.
Author:Andrea Ortega Phone: 480-861-4663 Dated: July 14th 2016 Views: 208 About Andrea: Andrea Ortega has been a licensed Realtor in Arizona since 1996, and has been with American Allstar ...
View our latest blog posts in your RSS reader. Click here to access.
CLIENT SERVICE GUARANTEE: American Allstar Realty is committed to providing every customer with the highest level of service. As your agent, I promise to always remember that YOU are the most important person in the transaction. At American Allstar Realty, we believe that communication is the cornerstone to a successful transaction. Please feel free to communicate your wants and needs to me as frequently as possible. If I am ever unavailable to receive your call, I promise to return your call as soon as possible; normally in less than one hour.
Buying or selling a home is about much more than just the price you pay for a piece of land. Selecting a property to become your home or place of business is what it is really about, and that's why I enjoy helping my clients buy and sell real estate. My clients come to me because of my knowledge of the industry and my familiarity with the area. I can help you find that "dream" home. Call me today and let's get started!
To navigate the complex decisions involved in today's real estate market requires the guidance of a professional. I am committed to service with an emphasis on accountability, reliability, timeliness and enthusiasm. I provide my clients with all the information necessary to help them make real estate investment decisions throughout the changing market cycles.
A successful real estate transaction is built upon the strength of relationships and the experience of how to get things done. I am well respected by my peers, and have developed invaluable working relationships with other professionals in my industry such as title companies, attorneys, lenders and appraisers.
As the nation’s housing market prices recover to pre-recession
"I ran across Penny sitting at an open house last summer. I had just relocated here from VA and thought I would have to rent for at least a year before finding the perfect house to buy. So I was basically daydreaming at this open house, however am thankful we stopped in! Began working with Penny right away as I was on a short timeline to get out of our temporary rental. She was always available and always showed us homes in our preferred area. Homes were selling in a day or less for cash, so it was frustrating at times. But Penny was very fast with all contacts, offers, and all that other not so fun stuff that arises when looking for a home. I would HIGHLY recommend her to anyone. I have already referred some friends who she found a home for as well."