Beyond The Loan

Appraisal comes in Low or High

Here are your options when your Purchasing a Home and your Appraisal comes in Low or High. It all depends on the Seller and if you have an Appraisal Contingency in your contract.

Buying an Investment Property

Buying an Investment Property is easier than you think! Most people do not know that you only have to have a 15% down payment with a Conventional loan and 3.5% with an FHA loan. Chad goes over max Debt to Income Ratio allowed, minimum Credit Score, closing costs, and more. Educating Decisions through Understanding Questions? Follow us @ Beyond the Loan on Instagram

Home Buyer Budget vs. Loan Amount

Before you house hunt...⁠ ⁠ Know Your Budget! ⁠ Your budget involves more than your mortgage payment. Here are the main things you need to know that make up your monthly home buying budget. ⁠ ⁠ Before you get your heart set on house⁠ Before you talk to a realtor⁠ Know your budget and get pre-approved by your lender⁠ ⁠ I promise, it will save you a lot of time and heartache when you have to pass on that house that you got attached to!⁠ Here are some basic things that you will need to know to know your TOTAL payment you qualify for: - Purchase price - Loan amount - Interest Rate - Principal and Interest - Property Taxes - County Taxes - Flood Insurance - Hazard Insurance - Mortgage Insurance - PMI - HOA - Claims on property For a visual aid to this episode, visit Beyond The Loan on YouTube: Quit asking how much you qualify for and here's why. https://youtu.be/fml2yBkX5Ns

Credit Score - Quick Tips

Here are some things that you may not know about maintaining a healthy Credit Score. These tips will help your borrowing eligibility, when you are ready to purchase or refinance a home. Do's and Don'ts: 1. Disputing negative tradelines on your Credit Score - it may feel good, but it doesn't help you purchase a home 2. Paying off collections and deletion letters 3. Credit Card reporting date 4. Why your score may be different when a Lender pulls the report vs. a Bank Rebuilding poor Credit or starting from scratch: 1. Rebuilding your credit with secured Credit Cards or an Installment loan from a local Bank 2. Credit longevity is just as important as paying off your debts 3. Self-reporting utility payments Full Video: https://youtu.be/OcRzrlzh6VY Helpful resources: www.myfico.com

Improving your Credit Score

Everyone knows to pay your bills on time, but here are some tips on how to actively increase your Credit Score. 1. Know when your Credit Card reports to the Bureaus so that it doesn't report a false balance. 2. Get a Deletion Leter when you pay off a Collection 3. Disputing Trade Lines can cause problems Full Video: https://youtu.be/OcRzrlzh6VY