Financing Tips for Real Estate

If I can explain any steps along the way, please ask. I'm always happy to help. E-mail me at:  TimLewis@TimLewisAlamo.com

Checklist for real estate financing 

Most of us can't go out and pay cash for a home now days. If you can, thats wonderful! It makes the entire process go much more smoothly. But since most of us can't you will need to make sure your finances are in order before beginning to even look at Alamogordo homes.

Get a clear picture of your finances

This means order a copy of your credit report and make sure there is nothing on there that would deter you from obtaining a loan. Clear up any discrepancies before applying for a loan.

Get pre-appoved for a loan

Now that your finances are in order, sit down with a lender and go over all your finances with them so they know how much home you can afford. Shop around for the best rate, fees and other expenses that come along with borrowing money. If you are not sure or can't buy a home right now, a good lender will give you some pointers and a time line as to when might be a more opportune time.

Be reasonable about your budget

Just because the lender tells you that you can afford a $250,000 home, that may not be what you want. Take into consideration that now as a homeowner you will have extra expenses such as repairs, maintenance and possibly extra utilities if the home is larger. You may want to stay around the $200,000 market to leave your budget open to any emergencies that may come up.

Don't make any large purchases now

Until the home completely closes, make sure you don't put anything major on credit such as furniture, cars or other items that may red flag your credit. You want to get the best locked in rate possible so make sure you don't even put your earnest money on credit during this time.

For more information on Alamogordo finance and other issues feel free to call or email me anytime. Below is a list of lenders in the area that may offer some advice and competitive rates.

Local Alamogordo / Las Cruces Lenders (this list may not be complete)

·         First American Bank - 575 439 9800

·         American Dream - 575 443 8050

·         Bank 34 - 575 439 9800

·         First National Bank - 575 437 4880

·         First Savings Bank - 575 437 0095

·         Mortgage Power - 575 443 8300

·         Otero Federal Credit Union - 575 437 8691

·         Pioneer Savings & Loan - 575 437 9075

·         Compass Bank - 575 434 2660 

·         Wells Fargo Bank - 575 437 3092

·         Western Bank - 575 443 5000

·         Simple Mortgage -575 525 9660

ADDITIONAL RESOURCES IN REAL ESTATE FINANCE:  United Brokers is your source for all listings in Vancouver WA homes and all Clark county real estate. We service any real estate transaction for the Vancouver area and all Battleground WA homes and properties.  Butler Realty is your expert source for all Ardmore TN real estate and homes. With access to all listings in the Southern Tennessee real estate area plus all Northern Alabama real estate, you can be sure to find the right home for you here. At Real Estate's Best Stop you can take care of all your Cadiz KY real estate needs here. We offer Kentucky home loan programs as well as 100% financing on Kentucky construction when building new homes. We are your complete source for all Cadiz KY homes and Hopkinsville homes.