This is an easy one for us to answer! Reference this list, and you will be prepared!!
- Valid driver’s license – To comply with the Patriot Act, this will verify your identity.
- Secondary ID – Either a passport or Social Security card
- One month’s pay stubs – If you are paid hourly or salary
- W-2 forms from employers from the past two years – To verify employment and earnings history
- Two years of signed federal tax returns (all pages) – These are essential for self-employed, bonus, and commission income. Even if you are paid a salary, this proves income.
- Two months of bank statements – These provide evidence of assets for down payment, closing costs and reserves.
- Purchase contract for the property you are buying
- If refinancing, a copy of the deed
- Landlord contact – If you are a renter, the name, phone, and address of the landlord can help verify that you pay timely
- Attorney contact – May help coordinate the closing
The equity in your home can give you a financial advantage if used correctly.
- Consolidate Debt. Use your equity to pay off high-interest debt and consolidate your payments into one lower-interest payment.
- Cash Out Refi for Renovation. Remodel your kitchen or bathroom or add a bedroom. It may be cheaper than buying a new home and you will still have all the familiar comforts of your current home!
- Cash Out Refi for Major Purchase. Cars, tuition, weddings, travel, second homes are just some major purchases. Using the equity in your home allows you to loan money to yourself without putting it on a credit card.
- Accommodate Changing Needs and Goals. We provide an annual fiscal check-up by phone in less than 10 minutes to see if your mortgage makes the most sense for you.
- Cash Out Refi for Other Real-Estate Investments. Cashing out your equity for wise investments can be very lucrative.
- Increased Interest Rates. Adjustable rate mortgages can be useful at times, but you must be ready to act quickly when the time comes.
- Decreased Interest Rates. In the financial market cycle, there are short term “windows of opportunity” you can use to refinance your loan for significant savings.
Having a Loan Officer watching the market for you and ready to act is a valuable asset in your financial tool box.
Cheryl is ready and avaialble to help!
YES, by making your January 2014 mortgage payment before this years end, you may in fact save yourself a substantial amount of money. If you were to pay your January 1, 2014 mortgage bill in advance, by the end of December of this year, your interest deduction from January would be shifted to this year’s deductions. This translates into you saving money and receiving a greater tax break for 2013. This should be incredibly appealing if you anticipate that you’ll be in a lower tax bracket next year.
In order to do this properly, you must take into consideration the following information:
◾January is the only month that this tax saving situation will apply
◾Make sure that your payment is received in time for it to count towards this year. Keep in mind that December 31, 2013 is a Tuesday (not to mention New Years Eve) so mailing in your payment a few days earlier or making it on –line would be best to ensure it posts in December.
◾Make a quick phone call to your mortgage company to discuss your intentions. They can also help you assure that this is credited as an interest payment for this year.
◾You MUST be certain that you’ll be in a lower tax bracket next year. Otherwise, you will not be saving much money other than getting and get ahead on your mortgage – which is never a bad thing – just know the facts!
Making your January mortgage payment in advance is a great idea that will save you some money, that is if you fit the criteria above and of course are in a financial situation that allows an additional payment in December!
If you keep these tips in mind – your credit scores should always be high.
- When possible, make automatic payments so bills get debited from your checking account at the same time every month.
- Pay on time – every month.
- Pay down credit card balances – pay more than the minimum payment. You should stay under 50% of your available credit, even if you pay the entire bill every time.
- Do not close a credit card, even if you do not use it. When you add up the balances of all of your outstanding debts and compare it to the credit limits – there should be at least 50% credit available.
- Do not get tempted to apply for instant accounts at department stores, even if you get a savings. In general, it is not good for your FICO score.
Our IN-HOUSE Credit Services Department can evaluate the credit report and offer personalized recommendations that could potentially improve a borrower’s credit rating. This is a FREE service to ALL applicants of NOVA Home Loans!
Yes. If you currently have your eye on a home and are considering purchasing it but have a sinking suspicion that it may already have an “occupant” or two, there are in fact a few things you can do.
First and foremost, you should check the seller’s disclosure. This disclosure is a form which reveals what the seller knows about the property’s physical condition and they are required to complete it. In this disclosure the seller may in fact reveal what oddities or paranormal activity they may have experienced while living in the home.
If the seller’s disclosure shows no sign of haunting activity, there are a few more things you can do to help with your peace of mind. Take some time to talk with the neighbors and ask questions about the home. Ask what exactly they know about it. The more you know the better. And odds are the neighbors would know the most about it and know the history of the home. Use the local library to research records and previous owner’s names and information. You can check the police records as well to check for deaths and or criminal activity at the home. You may even find newspaper articles about the home if there was ever any unusual activity! These types of reports typically get media attention. The Internet will be a good tool in your research as well. You never know what a simple Google search may turn up.
Now in the rare case that you are seeking a haunted home as your next residence or are currently trying to sell your haunted home, you’re in luck. There are resources available, that will direct you to real haunted home listings. Search on line for paranormal home listings and make sure your agent details the activity in the listing- many people are fascinated by haunted houses and you will most likely have a buyer in a very short time!!
If the thought of buying a “haunted home” is still a little freaky to you – then move on – this is just one of thousands available and the right one is just waiting for you to be the rightful owner.
Sometimes a little planning can make all the difference in selling a home. Remember you only get one shot for your home to make a wonderful first impression! Some Pro Tips for preparing your home to sell are listed below.
- De-clutter: Donate it, dump it, or if you really need it, store it.
- De-personalize: Remove family photos, personal memorabilia and keepsakes.
- Remove furniture: Create the feeling of space, especially if square footage is limited.
- Clean: A clean home tells buyers that it is well-maintained.
- Paint: Keep the walls neutral to appeal to more buyers.
- Bring in the light: Remove heavy window treatments, clean windows, and bring in lamps.
- Add curb appeal: Clean up the yard, trim shrubs, add a nice doormat to welcome visitors.
- Minor Repairs: Replace light bulbs, fix leaky faucets, make sure closet doors are on track and clean grout.
- Update kitchens & baths: Buyers place a huge value on updates
Remember to create a positive first impression and showcase the best attributes of your home.