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Office NameNeuman & Neuman
Prudential California Realty
Address
516 5th Avenue
San Diego, CA 92101
Phone: (800) 221-2210
Fax: (619) 702-9004
DRE: #00809392 & DRE: #00822095
Categories
San Diego Downtown Real Estate
Downtown San Diego Financing
THEY UNDERSTAND
At Neuman & Neuman, they understand two very important principles about buyers and home loans:
1) Every buyer is uncomfortable discussing personal finances.
2) An offer to purchase a home without a letter of pre-approval is a weak offer.
If you seriously want to buy a home, you must overcome principle number one! No one can typically buy a home without disclosing their financial circumstances.
During the initial consultation with Neuman & Neuman, the issue of financial qualification will come up. Your agent does not personally need to know your entire income, expense and credit history. But they do need to be assured that you are taking the necessary steps to becoming financially qualified by a lender to buy a home before you actually go shopping. Which brings us to principle number two.
Making an offer when you have a loan pre-approval letter in hand is almost as good as making a cash offer. Sellers weigh offers based on the strength of the buyer's financial capacity to actually complete the transaction. A pre-approval letter tells the seller that you can in fact buy the home! This is the strongest negotiating position for a buyer.
INSTANT ONLINE PRE-QUALIFICATION
Five Great Reasons To Get
Pre-Qualified By A Lender
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You will know in advance what your payments will be. |
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You won't have to waste time considering homes you cannot afford. |
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You can shop in advance for the best loan program. |
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Sellers will find your offer-to-purchase more favorable when your offer is accompanied by a lender's letter of pre-qualification. |
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You will enjoy increased loyalty from your agent. Buyers aren't considered "serious" until they take the pre-qualification step. |
| BEST ADVICE:
Take the pre-qualification one step farther and get a full loan approval. This is the best approach. Your Neuman & Neuman buyer specialist can help you with all of the details!
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An online mortgage self-pre-qualification form is provided for your convenience. Just follow the instructions and you will have a good idea as to how much of a monthly home loan you can comfortably manage, and what price home you can afford.
Please understand, there is a difference between pre-qualification and pre-approval. A pre-qualification simply means that, from the figures you provide, you should be able to qualify for a home loan of a specific dollar amount. A pre-approval means all of this, plus the lender has confirmed your credit history and verified income, assets, liabilities, and source of down payment funds.
If you do not have a relationship with a mortgage lender, one can be provided to help you get pre-approved. While you are under no obligation to use any lender referred to you, associations with lenders have been made which have proved to be reliable and competitive. You will then become a more informed consumer able to make better decisions about your home loan.
Easing Winter Depression with the Downtown San Diego Home Buyer Tax CreditAs 2010 gets underway there is something very exiting for potential Downtown San Diego Home Buyers and real estate professionals to look forward to and take advantage of.
The credit was created back in 2008 but has become much more than the $7,500 tax credit that needed to be repaid. Now the tax credit is valued at $8,000 and does not need to be repaid at all in 2010 and will be available for first time home buyers, while current homeowners are eligible for a tax credit of $6,500. Read Also: Existing-Home Sales Increase for First-Time Downtown San Diego Home Buyers First time home purchasers that buy a home between November 7th 2009 and April 30th 2010 are eligible for this credit and it is a definite bonus that needs to be looked into. Current homeowners that purchase a home in the same period are eligible for the $6,500 tax credit as long as the home they lived in before was owned by them for the last five years. One very important point for the changes is that a Downtown San Diego Home Owner's current home does not necessarily have to be sold to qualify for the tax credit. However, the home buyers must reside in their new home for at least three straight years in order to hold onto the tax credit. It may be a bit confusing, but it is definitely great news for the struggling housing market and potential new Downtown San Diego Home Owners.
For further information on any Downtown San Diego Condos contact: Gregg Neuman 1-800-221-2210 http://www.sellsandiego.com/0114D7 Posted on February 03, 2010 12:13:01 by Gregg Neuman
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Tips for Refinancing Your Downtown San Diego HomeThe Downtown San Diego Real Estate Housing Market is showing signs of recovery recently but there are still a number of short sales and foreclosures that are affecting the market.
Many neighborhoods are receiving lower appraisals due to this and that is why refinancing is an option that many Downtown San Diego Home Owners should be considering. If refinancing sounds like something that you would be interested in doing then here are some tips that you should consider. - Try to keep in touch and continuously research the value of your home and other houses in your neighborhood. Watch foreclosures as they can drive down the value of your Downtown San Diego Home. - Appraisers look at comparable sales so try to get in touch with a loan officer that can look into past sales near or around your home. - If you want to use your own appraiser then be sure to put a lot of research into your selection. Cross check them with a lender just to be safe. - Ask your loan officer to try and work with different appraisal companies. A lot of homes are being apprised inaccurately since many appraisers are not from the local area. - Be sure to note that the appraisal report is always yours to keep. Figure out who is going to pay for the appraisal before entering the process as it is quite common for the fees to be paid for by the homeowner. - It is often a good idea to choose the lender you are going to use before being sure you are going to have an appraisal. You should always be comfortable with your loan officer first as they can be the mediator between you and any other party involved.
For further information on any Downtown San Diego Condos contact: Gregg Neuman 1-800-221-2210 http://www.sellsandiego.com/0114A5 Posted on January 31, 2010 13:41:46 by Gregg Neuman
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Are Loan Modifications Capable of Creating Problems for Downtown San Diego Home Owners?Horrible news that often comes for Downtown San Diego Home Owners is when they get denied for a new loan after they finally receive a chance to switch up their home loans.
Imagine switching up all of your loans in order to afford something new, and then just getting rejected? This is what can often happen when home loans are modified, as credit scores can suffer which makes it much tougher to get a credit card or a loan. This is a situation that many Downtown San Diego Home Owners find themselves in these days, as the effects of the recession are felt and there is a continued meltdown in the Downtown San Diego Real Estate Market. Lenders have been readily offering modifications on home loans but not necessarily explaining the repercussions that can be felt. Read Also: Existing-Home Sales Increase for First-Time Downtown San Diego Home Buyers Since the end of November 2009 over 31,000 trial loans have been given out, however homeowners are unaware as to how they fully work. While this trial does help people avoid foreclosure, it can affect every other part of their finances. One example is a Michigan resident who received a modified loan and watched his credit rating take a 200 point hit. For some that is worth it if they are taking about saving their home, but for others it can do far more damage than it can good. It is clearly up to each person to consider their personal situation, but it is definitely worthwhile to understand the effects of getting a loan modification for your Downtown San Diego Home, rather than just jumping right into it.
For further information on any Downtown San Diego Condos contact: Gregg Neuman 1-800-221-2210 http://www.sellsandiego.com/0114A4 Posted on January 29, 2010 11:18:53 by Gregg Neuman
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