OK. So here we are , Day 1. We get to sit down with each other and go over some budgets, do's & dont's, expenses and what to expect during the process. During the initial consultation, there is NOT any obligations to you. This is the time to get educated and ask all the questions you've ever had about anything real estate. Common misconception when people get invited to the office, they are " buying a home " or already signing away. This is NOT the truth here. Im old school. I like the one meetings, were I get to talk to a real person and I'm also a visual guy also. So I like to see examples, and this is why we provide this type of service.
Programs / Credits. First off , we are NOT mortgage lenders, but are very educated in the field. Here's the thing, and why I say, DO NOT get prequalified first. Every lender will sweet talk you and tell you why they are better than everyone else. I'd rather, review all programs & credits available to, go over all the options and then we can decide which will benefit you most. For example, there is Down Payment Assistance ( which state issues grants ) , which at times this may benefit you BUT what if you rather take advantage of another credit like, $5000 off closing cost and only 3% downpayment and NO PMI. As you can see, one may sound good, BUT others may benefit you more. Well, during this initial consultation, we will be able to see these side by side , where then YOU can decide what route to take, versus being convinced of one. See where I'm going with this? Check out some of our other videos where we go more in detail on these programs.
Now, lets talk credit. I had told you before to get familiar BUT do NOT pay anything off or credit repair till we talk. And here is why. There is this system called Credit Wizard. It is a simulator that is tailored to your home loan. You will get a step by step action plan to get you to the scores you need to get approved. We will go over some examples of past clients and scenarios where they did not need credit repair, but only needed to make a few adjustments and then qualified for a home loan. Again, this is a very common mistake people make when starting the process, they want to fix their own credit, pay off whatever bills but have no Direction.
We will review the time line process that includes what to expect during the process and also all expenses you will occur during the process. We go over some examples of inspection reports , cost work sheets and different ways we would negotiate on your behalf. By the time you walk out the doors, you will be 100% confident on the process and will have eliminated concerns. Sounds pretty lengthy, but just put aside a good 45 min and we will be good.
Remember, check out our other videos , where we go in detail about programs/ credits, ways to improve credit scores, and the time line process. What if youre ready... where should you apply? Who should you go with? Check out the next video, and we will cover it for you.