Q. which company is better for me to get a home loan from: Wells Fargo or Coldwell Banker Home Loans?
thankss(:
thankss(:
A. Neither is bad or better than the other. All mortgage loans are based on your credit score and other things that appear on your credit report
Buying a house is a step by step process, this is the first step you should take in order to purchase a house. The rest of the steps will fall in place, no matter the type of property you are purchasing.
In order to find out the type of loan programs you are qualified for you will have to fill out a loan application, with a mortgage broker, which you can find one in your local telephone book.
Make sure this mortgage broker or mortgage banker is able to do government loans such as FHA and VA loans if you qualify for one.
He will fill out this application, which takes awhile so grab your favorite beverage and sit down. Once you have completed the application, he will run your credit report which will have your credit scores. These credit scores will determine your interest rate.
The amount of your monthly debt payments you are required to pay as per your credit report and the amount of mortgage you can take on based on your income will determine the amount of house you will be able to purchase.
When you speak with the mortgage broker you will need the following documents to complete the loan application, there will be others, but this will get you started.
#1 One month of pay stubs for each person that will be on the mortgage.
#2 Six months bank statements from each bank in which you bank as well as statements from any 401K from you place of employment.
#3 Two years of federal income tax along with the W-2 that match.
Once he has all that he need to do he can then issue you a pre-approval letter so you can purchase a home. In this pre-approval letter will be the amount of house you are qualified to purchased.
Once he gives you this pre-approval you may now find a real estate agent to find yourself a home or he might have a referral.
Now make sure before you get your pre-approval you and your mortgage broker go over all your options as to the mortgage programs you qualify for, the interest rate, monthly payments.
If you are getting a FHA, fixed rate, two loans to eliminate PMI like an 80/20 or one loan, if you are qualified for and approved for a 100% loan.
You should select the loan that best suit your financial condition at the time. That could be an adjustable rate loan. It could be a fixed rate loan for 5 or 10 years and then adjust. Some adjustable rate mortgages only adjust once.
Make sure your mortgage broker explain all your options so you may make an intelligent decision.
What might be good for one person might not be good for you, in other words just because your friends and all your real estate buddies are telling you about the great fixed rate they got, your financial situation might call for something else.
So select the best option for you and your financial situation.
You should also get a Good Faith Estimate (GFE) which will indicate the cost you will have to pay for getting this loan. It will also indicate the amount of your down payment.
Once you have found a home the real estate agent will then prepare a contract for you and the seller to sign.
Your mortgage broker will now order an appraisal to show proof of the property value.
The mortgage broker might ask for additional information or documentation, don't get all up tight this is normal, just supply the information or find the documents needed.
After the appraisal has been completed you will be called by your mortgage broker to sign your loan docs so you can take possession of your new home.
Before signing any loan docs make sure they say exactly what you and your mortgage broker went over when you decided on what mortgage program was best for you.
I hope this has been of some benefit to you, good luck
"FIGHT ON"
Buying a house is a step by step process, this is the first step you should take in order to purchase a house. The rest of the steps will fall in place, no matter the type of property you are purchasing.
In order to find out the type of loan programs you are qualified for you will have to fill out a loan application, with a mortgage broker, which you can find one in your local telephone book.
Make sure this mortgage broker or mortgage banker is able to do government loans such as FHA and VA loans if you qualify for one.
He will fill out this application, which takes awhile so grab your favorite beverage and sit down. Once you have completed the application, he will run your credit report which will have your credit scores. These credit scores will determine your interest rate.
The amount of your monthly debt payments you are required to pay as per your credit report and the amount of mortgage you can take on based on your income will determine the amount of house you will be able to purchase.
When you speak with the mortgage broker you will need the following documents to complete the loan application, there will be others, but this will get you started.
#1 One month of pay stubs for each person that will be on the mortgage.
#2 Six months bank statements from each bank in which you bank as well as statements from any 401K from you place of employment.
#3 Two years of federal income tax along with the W-2 that match.
Once he has all that he need to do he can then issue you a pre-approval letter so you can purchase a home. In this pre-approval letter will be the amount of house you are qualified to purchased.
Once he gives you this pre-approval you may now find a real estate agent to find yourself a home or he might have a referral.
Now make sure before you get your pre-approval you and your mortgage broker go over all your options as to the mortgage programs you qualify for, the interest rate, monthly payments.
If you are getting a FHA, fixed rate, two loans to eliminate PMI like an 80/20 or one loan, if you are qualified for and approved for a 100% loan.
You should select the loan that best suit your financial condition at the time. That could be an adjustable rate loan. It could be a fixed rate loan for 5 or 10 years and then adjust. Some adjustable rate mortgages only adjust once.
Make sure your mortgage broker explain all your options so you may make an intelligent decision.
What might be good for one person might not be good for you, in other words just because your friends and all your real estate buddies are telling you about the great fixed rate they got, your financial situation might call for something else.
So select the best option for you and your financial situation.
You should also get a Good Faith Estimate (GFE) which will indicate the cost you will have to pay for getting this loan. It will also indicate the amount of your down payment.
Once you have found a home the real estate agent will then prepare a contract for you and the seller to sign.
Your mortgage broker will now order an appraisal to show proof of the property value.
The mortgage broker might ask for additional information or documentation, don't get all up tight this is normal, just supply the information or find the documents needed.
After the appraisal has been completed you will be called by your mortgage broker to sign your loan docs so you can take possession of your new home.
Before signing any loan docs make sure they say exactly what you and your mortgage broker went over when you decided on what mortgage program was best for you.
I hope this has been of some benefit to you, good luck
"FIGHT ON"
How can I find no money down home loans or mortages in texas?
Q.
A. Contact a loan officer or real estate agent but go with a reputable company (RE/MAX, Coldwell Banker, GMAC, etc.)...they will be more likely to be on the up and up without alot of hidden costs that can get rolled into $0 down loans.
If you qualify, try for a VA or FHA (First Time Home Owners) Loan.
DO NOT get an ARM loan (Adjustable Rate Mortgage)...these will cost less in the short term but the long term will cost you LOTS more. Many people have been unable to pay the mortgage and have lost their home.
If you qualify, try for a VA or FHA (First Time Home Owners) Loan.
DO NOT get an ARM loan (Adjustable Rate Mortgage)...these will cost less in the short term but the long term will cost you LOTS more. Many people have been unable to pay the mortgage and have lost their home.
What are some different Real Estate jobs?
Q. What are some important Real Estate jobs, and what exactly do they do?
A. Some different careers in Real Estate are as followed:
Agent
When thinking about real estate careers, real estate agents tend to be the first to come to mind. In the simplest sense, real estate agents work to help clients buy and sell homes. Real estate agents must pass rigorous education and examination requirements to earn a license and must be knowledgeable in real estate law, rules and regulations, according to the U.S. Bureau of Labor Statistics. To be successful, real estate agents must be able to work well with people, have a good work ethic and be willing to put in long hours, including evenings and weekends.
Broker
Somewhat similar to a real estate agent, real estate brokers undergo much of the same training as agents but with additional requirements. Generally, real estate brokers can legally perform more duties than an agent, including owning real estate franchises and firms and employing agents, states the National Association of Independent Real Estate Brokers website. Independent brokers do not own or work for a real estate franchise like Coldwell Banker or RE/MAX, rather own their own real estate companies. While many brokers stay busy running a real estate business, some still act as agents, helping buyers and sellers as well.
Appraiser
Determining the real value of a home is an important aspect of the real estate process, not only for the buyer and seller, but also for the mortgage lender and agent. Appraisers act as a disinterested third-party to determine the value of the home, using comparable properties, historical statistics and current market conditions, states the Appraiser Loft website. Generally, mortgage lenders will hire appraisers to be sure that the amount of the mortgage does not exceed the value of the home. Sometimes sellers will use an appraiser to help them determine at what price to list the home.
Inspector
Because buying a home involves large investments of money and time, many buyers hire an inspector to assess the property before purchasing. Inspectors visually examine different aspects of a home, looking for possible flaws or problems. According to the website houseinspector.info, inspectors abide by common industry standards approved by inspection professional societies. Typically, inspectors look at the exterior, roof, structure, basements, mechanics, electrical systems and appliances. After the inspection, the inspector writes up a report for the buyer or agent who requested the inspection. The inspection report helps buyers negotiate any repairs with the sellers.
Mortgage Broker/Mortgage Lender
When purchasing a home, most people must take out a home loan and go through a mortgage broker or lender to secure the loan. Mortgage lenders work directly for a mortgage company or bank, while a mortgage broker represents several mortgage companies, states the website move.com. The mortgage broker or lender helps a buyer fill out all the loan paperwork and tracks the process until the loan is approved and the deal closes.
Agent
When thinking about real estate careers, real estate agents tend to be the first to come to mind. In the simplest sense, real estate agents work to help clients buy and sell homes. Real estate agents must pass rigorous education and examination requirements to earn a license and must be knowledgeable in real estate law, rules and regulations, according to the U.S. Bureau of Labor Statistics. To be successful, real estate agents must be able to work well with people, have a good work ethic and be willing to put in long hours, including evenings and weekends.
Broker
Somewhat similar to a real estate agent, real estate brokers undergo much of the same training as agents but with additional requirements. Generally, real estate brokers can legally perform more duties than an agent, including owning real estate franchises and firms and employing agents, states the National Association of Independent Real Estate Brokers website. Independent brokers do not own or work for a real estate franchise like Coldwell Banker or RE/MAX, rather own their own real estate companies. While many brokers stay busy running a real estate business, some still act as agents, helping buyers and sellers as well.
Appraiser
Determining the real value of a home is an important aspect of the real estate process, not only for the buyer and seller, but also for the mortgage lender and agent. Appraisers act as a disinterested third-party to determine the value of the home, using comparable properties, historical statistics and current market conditions, states the Appraiser Loft website. Generally, mortgage lenders will hire appraisers to be sure that the amount of the mortgage does not exceed the value of the home. Sometimes sellers will use an appraiser to help them determine at what price to list the home.
Inspector
Because buying a home involves large investments of money and time, many buyers hire an inspector to assess the property before purchasing. Inspectors visually examine different aspects of a home, looking for possible flaws or problems. According to the website houseinspector.info, inspectors abide by common industry standards approved by inspection professional societies. Typically, inspectors look at the exterior, roof, structure, basements, mechanics, electrical systems and appliances. After the inspection, the inspector writes up a report for the buyer or agent who requested the inspection. The inspection report helps buyers negotiate any repairs with the sellers.
Mortgage Broker/Mortgage Lender
When purchasing a home, most people must take out a home loan and go through a mortgage broker or lender to secure the loan. Mortgage lenders work directly for a mortgage company or bank, while a mortgage broker represents several mortgage companies, states the website move.com. The mortgage broker or lender helps a buyer fill out all the loan paperwork and tracks the process until the loan is approved and the deal closes.
Which company is better for a new real estate agent in California Coldwell Banker or Re/Max?
Q. I just got my real estate license and am looking to join either coldwell bankers or remax in southern california
which would be better for a beginner agent.
And also will they take anyone who applies or is it hard to get into these companies
THANK YOUU
which would be better for a beginner agent.
And also will they take anyone who applies or is it hard to get into these companies
THANK YOUU
A. In my opinion both companies are very good to work with and would recommend both. That is what it is a recommendation.
You have to interview the Human Research Director of both companies, question them as to how they feel about new licensed real estate agents. You would also have to ask the cost of being an agent in either firm.
What educational course are offered, which cost and which don't. Do they offer continuing educational courses.
Are you required to use their mortgage company in securing mortgage loans for potential clients, purchasing property?
How far is the office from you place of residence, will you be working in that office or some place else. Are you required to maintain an office or could you work from home.
Then there are working conditions. Do you enjoy coming to work with the people you will be involved in on a daily basis.
There are a million questions that need to be answered and only you could make the decision as to if this will please you.
Any advise you get here should be taken into consideration, but the ultimate decision is yours to make. If you allow others to make this decision for you this will become a pattern.
Each company take on who they think will be beneficial to their company, therefore the question of which is hard to get in would depend on how well you interviewed for the position of real estate agent.
I hope this has been of some benefit to you, good luck.
"FIGHT ON"
You have to interview the Human Research Director of both companies, question them as to how they feel about new licensed real estate agents. You would also have to ask the cost of being an agent in either firm.
What educational course are offered, which cost and which don't. Do they offer continuing educational courses.
Are you required to use their mortgage company in securing mortgage loans for potential clients, purchasing property?
How far is the office from you place of residence, will you be working in that office or some place else. Are you required to maintain an office or could you work from home.
Then there are working conditions. Do you enjoy coming to work with the people you will be involved in on a daily basis.
There are a million questions that need to be answered and only you could make the decision as to if this will please you.
Any advise you get here should be taken into consideration, but the ultimate decision is yours to make. If you allow others to make this decision for you this will become a pattern.
Each company take on who they think will be beneficial to their company, therefore the question of which is hard to get in would depend on how well you interviewed for the position of real estate agent.
I hope this has been of some benefit to you, good luck.
"FIGHT ON"
Has anyone else had a problem with Coldwell Banker Mortgage?
Q. Coldwell Banker Mortgage screwed me for $350.00 for a PRE-APPROVAL for a loan. Anyone else had similar instances where this company screwed you?
A. $350.00 for a pre-approval? Are you sure that was not for an Appraisal on a property? I work with Coldwell Banker Real Estate Agents and I have never heard of that. I would like to know more. Are you looking to get approved for a home loan? If so, I can assist you. Hit me back.
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