Tag Archives: realtor in pooler

The Worst Things You Can Do Before Buying A Home . . .

10 Mar

Cynics may scoff, but getting under contract on the right home can turn even the most stoic shopper into a bit of a dreamer. From paint colors to planting a garden, picturing yourself in that property is critical for many buyers.

But leave a little room for pragmatism. Remember that getting pre-approved for a mortgage and even under contract isn’t a guarantee. That prefix is there for a reason. Loan pre-approval is not loan approval.

You’ll have more hurdles to clear before a lender legally commits to funding your home loan. Buyers who don’t know any better can inadvertently add obstacles to that path, or even kill the entire deal between contract and closing day.

Some missteps can be costlier than others. Here’s a look at five of the worst things you can do before buying a home.

1. Go Credit-Crazy

It’s almost become cliché in the mortgage industry, but the warning still bears repeating: Don’t buy a truckload of furniture until after your loan closes. The prohibition goes beyond sofas and settees,  avoid obtaining credit for any major expense, such as a car, a boat or, yes, a new bedroom set.

Be careful with even minor expenses. If you absolutely need to obtain new credit or accrue debt before closing, talk with your loan officer as soon as possible.

New payments are going to affect your monthly debt-to-income ratio (and residual income on a VA loan), and not in a good way. Hard inquiries on your credit report could also lower your credit score. That might hurt your interest rate if you haven’t locked or even knock you out of qualifying range all together.

2. Shuffle Dollars and Cents

Lenders will scour your most recent bank statement as part of the pre-approval process. It’s not like they forget about it after that. They’ll take another look at your assets and bank records again during the underwriting process.

You’ll need to explain any unusual deposits or withdrawals. Lenders will require clear documentation and a paper trail if you’re putting gift funds toward a down payment or closing costs. Stuffing a wad of undocumented cash into your account is going to raise some red flags.

3. Get Behind on Bills

Having a late payment hit your credit report before closing can devastate your deal. Payment history comprises about a third of your credit score.

One solitary 30-day late payment can clip 60 to 110 points from your credit score. Maybe not a huge deal if you had an 800 score, right?

Possibly. But if that 30-day late blemish is a mortgage or rent payment, some lenders will boot your application altogether. Many will require at least 12 consecutive months of on-time payments to qualify for a home loan.

4. Co-Sign on a Loan

Co-signing a loan is arguably a bad financial move whenever you make it. But it’s especially risky during the mortgage lending process. It means you’re financially liable for someone else’s debt.

Yes, that someone else might be the most responsible person on the planet. Lenders will still need to factor that new monthly obligation into your overall affordability profile. Adding one more debt to the list could stretch too thin your debt-to-income ratio and assets.

5. Changes in Employment

Probably goes without saying, but losing your job is going to be a big problem. Even job-hopping can present some major hurdles. Lenders crave stable, reliable income that’s likely to continue.

Lenders are likely to slam on the brakes if you take a new job in a different field. Or if you decide to start your own business. Or even if you get a promotion but see some or all of your income shift to a commission basis.

The bottom line: Any change to your employment is significant. Keep your loan officer in the loop, and ask questions when in doubt. The last thing you want is to waste time and money on a home loan you’re never going to get.

Throughout the mortgage process, it can also be helpful to monitor your credit scores for changes so you can know whether you need to address any problems. To do that, you can use a free tool like Credit.com’s Credit Report Card, which updates your credit scores and an overview of your credit report every month.

This article was written by Chris Birk and originally published on Credit.com.

Feng Shui 101

3 Mar

Whether you have been practicing Feng Shui for years or never heard of it, here are a 5 Feng Shui concepts to help a home sell.

feng-shui-101-537x346

 

  • Pay special attention to the front door, which is considered the “mouth of chi” (chi is the “life force” of all things) and one of the most powerful aspects of the entire property. Abundance, blessings, opportunities, and good fortune enter through the front door. It’s also the first impression buyers have of how well the sellers have taken care of the rest of the property. Make sure the area around the front door is swept clean, free of cobwebs and clutter. Make sure all lighting is straight and properly hung. Better yet, light the path leading up to the front door to create an inviting atmosphere.
  • Chi energy can be flushed away wherever there are drains in the home. To keep the good forces of a home in, always keep the toilet seats down and close the doors to bathrooms.
  • The master bed should be in a place of honor, power, and protection, which is farthest from and facing toward the entryway of the room. It’s even better if you can place the bed diagonally in the farthest corner. Paint the room in colors that promote serenity, relaxation, and romance, such as soft tones of green, blue, and lavender.
  • The dining room symbolizes the energy and power of family togetherness. Make sure the table is clear and uncluttered during showings. Use an attractive tablecloth to enhance the look of the table while also softening sharp corners.
  • The windows are considered to be the eyes of the home. Getting the windows professionally cleaned will make the home sparkle and ensure that the view will be optimally displayed.

More Happy Home Buyers….

27 Mar

Clint & Sarah Jones were so much fun to work with. I sold them a property in Cumberland Point that is absolutely stunning. They got lots of upgrades and will qualify for the first time home-buyer credit. Congratulations guys!



81 Cooper’s Lane — Sold !!

13 Aug

Erin Rowley | Coldwell Banker Platinum Partners | erin.rowley@coldwellbanker.com | 912 224 0460
81 Cooper’s Lane, Pooler, GA
REDUCED by $30,000! Beautiful home with warm, classic details…
5BR/3BA Single Family House
offered at $230,000
Year Built 2007
Sq Footage 2,772
Bedrooms 5
Bathrooms 3 full, 0 partial
Floors 2
Parking 2 Car garage
Lot Size Unspecified
HOA/Maint $67 per month
DESCRIPTION

This home is the popular “Franklin” floor plan. It features stunning hardwood floors, exquisite crown molding, high ceilings, and trey ceilings.

The kitchen is full of upgrades! Huge lovely cabinets, granite, smooth top range, glossy black appliances, and 6 person bar. Separate dining room as well as breakfast area.

Heated/cooled sun room just off the back of the home. It opens to a wonderful patio.

There is a full bath and bedroom downstairs, that can accommodate family members/guests who can’t do stairs. Bright & Airy throughout.

Upstairs are 2 more bedrooms, master bedroom, and HUGE bonus room, which functions now as a 5th bedroom.

Master suite upstairs features trey ceilings. Bath has dual vanities, separate garden tub and walk in shower. Walk in closet through bath.

Home sits on a great corner lot that overlooks the silo at The Farm. Great home with combination brick construction.

65 acre lake on property, as well as swimming pools, playground, fitness center and club house. Hargray has taken over recently, and Telephone/internet included in HOA dues.

No sign on property per CC&R’s. This price is subject to a short sale.

Call for an appointment to view.
Erin Rowley
Direct: (912) 224.0460
Office: (912) 352-1222
http://www.savvyinsavannah.com

Directions:

Take I-95 to Jimmy Deloach.
Take Jimmy Deloach down past Benton Blvd.

The Farm at Morgan Lakes is on your right hand side. The entry was is decorated with flags…pretty hard to miss.

81 Cooper’s Lane is the big house on the corner at your first right. You can see the Silo from the home.

https://savvyinsavannah.wordpress.com

see additional photos below
PROPERTY FEATURES

– Central A/C – Central heat – High/Vaulted ceiling
– Walk-in closet – Hardwood floor – Tile floor
– Family room – Living room – Bonus/Rec room
– Dining room – Breakfast nook – Dishwasher
– Refrigerator – Stove/Oven – Microwave
– Granite countertop – Attic – Laundry area – inside
– Balcony, Deck, or Patio – Yard
COMMUNITY FEATURES

– Business center – Clubhouse – Fitness center
– Swimming pool(s) – Lake – Playground
ADDITIONAL PHOTOS


Photo 1

Photo 2

Photo 3

Photo 1

Photo 6

Photo 5
Contact info:
Erin Rowley
Coldwell Banker Platinum Partners
912 224 0460
For sale by agent/broker
powered by postlets Equal Opportunity Housing
Posted: Feb 9, 2010, 4:33pm PST