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Financing


GettingStarted:


Know the Numbers:


Applications & Processing

Start A Green File:

A green file contains all your important financial documents. You will need it to secure financing for your property. The typical green file should contain:

  • Financial statements
  • Bank accounts
  • Investments
  • Credit cards
  • Auto loans
  • Recent pay stubs
  • Tax returns for two years
  • Copies of leases for investment properties
  • 401K statements, life insurance, stocks, bonds, and mutual account information.

Check Your Credit Rating:

Credit scores range between 400 and 850. 620+ is considered “good”. 720+ is considered “premium” and may possibly help get you a lower interest rate.

 

Below you will find the contact information for the 3 major credit reporting agencies to help you determine your credit rating. Ask your lender how to improve your credit score if you need to. Going forward, treat your credit like gold.

 

Equifax http://www.equifax.com (800) 685-1111
Experian http://www.experian.com (800) 392-1122
Trans Union http://www.transunion.com (800) 888-4213

Savings & Debt:

If you are buying real estate, try to accumulate funds towards your down payment, closing costs (appraisal, miscellaneous fees, escrow, title insurance, etc.) and expenses such as inspections. Furthermore, try to pay down existing revolving and high interest rate debt like credit cards.

Toe The Line:

Now is not a good time to change careers, move your money around, or buy big ticket items. Lenders like stability. So if you are considering any major changes, it pays to meet with a lender and ask them how to proceed before you make any changes! If you are tempted to buy a big ticket item, consider the following:

A $500 a month debt payment (like a credit card or auto loan) could lower the amount of home you can afford by about $83,000! *

Based on a 30 year mortgage at 6% interest.
to keep the process moving forward smoothly. Check in with your broker periodically.

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About Us

We understand that buying or selling a home is more than just a transaction: it’s a life-changing experience. That’s why our team of highly-seasoned real estate professionals is dedicated to providing exceptional, personalized service for all of our clients. We take great pride in the relationships we build and always work relentlessly on our client’s behalf to help them achieve their real estate goals.

Testimonial

We purchased our home with Harvey’s help and I couldn’t have been happier with the job he did. Throughout the entire process he was accessible, professional, knowledgeable, and trustworthy. He literally took an almost impossible task based on our requirements and made it happen for our family!

AD Vaughn III

Contact Us

Harvey Simmons
(888) 245-2647
Harvey.Simmons@communitywiderealty.com
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