Subscribe
Sure it’s a commercial for Lowes, but it’s funny.
To contact a first time home buyer specialistMore more valuable first time home buyer information, subscribe
To save or share with a friend, click on the button below
Check us out on Facebook: Temecula 365 things to do
Whether you are a first time home buyer in the Temecula real estate market, or Murrieta or other parts of Riverside or San Diego Counties, or a homeowner trying to stay afloat, chances are one or more of your bills have been turned over to a collection agency.
It’s difficult for most folks to find money these days, and collection agencies are getting desperate, sometimes downright nasty in their attempts to collect outstanding debt. (more…)
If you’re a first time home buyer, financing is one of the most important pieces of the first time home puzzle. For a lender to get a complete picture of your financial situation they will evaluate four areas in your financial picture.
Like the four legs of a chair, the four pillars of a loan application are mutually supportive, and require each to carry its own weight.
Previously we’ve discussed:
Credit History
Asset
Income
The fourth and final leg of the loan application chair is Reserves. The new catch phrase for Reserves, is your “skin in the game” and it refers to how much of your money you are bringing to the closing table.
First Time Home Buyer Loans
It’s been a long held tenant of loan underwriting, that the more “skin in the game” you have the less likely you will be to default on your mortgage payments.
Here are a few things you should know about Reserves: (more…)
