July 23rd, 2009 2:05 PM by Eric Fang
I have more and more requests from purchasing houses now.But we could do better to avoid future problems.
1)Check your credit score.
2)Get a pre-approval from a broker and lender.
3)If you need get down payment from Third Party,please transfer at least two months earlier for loansover 417k, one month earlier for loans less than 417k.Otherwise, the lender will ask Gift Letter and the translation documents if the money wired from a foreign country.
4)Find a trust-worthy realtor to find a dream.You don't have to check the rate everyday. The money you saved on the good deal is much more than the good rate. Besides, you can refi anytime if youhave higher rates at purchase. So focus on the purchasefirst, not the rate.
5)After the offer accdepted, get the inspection done assoon as possible. This is very important as well.
6)When offer accepted, you can shop around to get a goodloan agent/broker. If the agent/broker can quote yourate without asking you about the contract is not a goodloan orignator. talk to the Loan Originator about the optionswhether to pay the closing cost or not.
7)Work with the LO to get the paperwork and close the deal