Congratulations! You have decided to purchase a home, or are thinking about buying one. You'll be joining the ranks of hundreds of families who realize that home ownership offers a number of benefits including building equity, saving for the future, and creating an environment for your family. When you own your own home, your hard-earned dollars contribute to your mortgage. The equity you earn is yours. Over time, your home will increase in value.
In the following reports, you'll find the information you need to make a wise buying decision. We'll take you through the planning process step-by-step , to help you determine which home is right for you. You'll find a host of informative articles on mortgages, viewing homes, the offer, closing details and moving.
Please contact me if you have any questions about buying a home in Bronx or elsewhere in New York.
Below, select desired reports and complete the form provided.
This Is Important Information For Prospective Buyers.
While collections are bad, anything two years or older should not be touched. The damage was already done and enough time has passed for the "wounds" to heal. As a first time home buyer, FHA is most likely the program you will be going with as it only requires a 3.5% down payment. FHA DOES NOT require collections that do not pose a threat as a lien placed on the property and is up to an underwriters discretion as to whether it should be paid or not. Judgments and Liens regardless of their source, will automatically have to be paid prior to closing. But again, if they are older than two years then you should not touch them before you actually have your credit pulled by a mortgage professional. Late payment on a mortgage, a major trade line can have a very large impact on your credit score. Basically, what it all boils down to is you should talk to a mortgage professional that can guide you in the proper direction to buy a home. You may already qualify.