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Archive for the 'Buyers' Category
Getting Ready to Buy Your Madison MS Real Estate Home
Is now the right time for you to buy a home? You
have many options to consider and choices to make. Buying a home is a big
responsibility, financially and emotionally, but thousands of people have taken
the giant leap towards homeownership.
Whether you can afford to purchase a home
depends on how much the home costs, how much you earn and how much you
currently owe. The first step towards
homeownership is pre-approval from a mortgage
lender. The lender will request
your credit from the credit bureau. It would be wise to request your own copy
of your credit report beforehand to avoid any unexpected surprises. You can obtain a free copy of your credit
report annually by visiting https://www.annualcreditreport.com/cra/index.jsp. Upon receipt of your credit report verify
that all debts and payments are recorded correctly.
Here are some helpful tips to avoid the credit mistakes
during the loan process.
1. DO NOT APPLY NEW CREDIT. Not even those with the wording, “You
Have Been Pre-Approved. This is very
important because each time you have your credit pulled by a credit or lender,
you immediately lose points from your credit score. You could possibly lose anywhere form 2 – 50
points for one hard inquiry.
2. DO NOT PAY OFF COLLECTIONS OR CHARGE
OFFS. Contrary to what most of us
believe paying off collections/charge offs will immediately decrease your
credit score due to the date of last activity becoming recent. If you’re considering paying off old debt
you may want to do through escrow. Be
sure to validate that the credit is yours and that the creditor agrees to give
you a letter of deletion.
3.
DO NOT
CLOSE CREDIT CARD ACCOUNTS. If you close a credit card account it
will appear to FICO
that your debit ratio has gone up.
Closing a card will affect other factors in the score such as length of
credit history. It would be wise to
wait until after home closing to close any credit card accounts.
4. DO
NOT MAX OUT OR OVER CHARGE YOUR CREDIT ACCOUNTS. This is
the absolute fastest way to reduce your credit score by 50 – 100 points. Try to keep your credit card balances below
30% of their available limit during the loan process.
5. DO NOT
CONSOLIDATE YOUR DEBT ONTO 1 OR 2 CREDIT CARDS. When you
consolidate all of your debt onto one card, it appears that you are maxed out
on that card and the system will penalize.
Maximizing interest rates can safely be done ONLY after the closing of
your home loan.
6.
STAY
CURRENT ON EXISTING ACCOUNTS. Mortgage and car payments should ALWAYS
be paid on time. ONE 30-day late can
cost you anywhere from 30 – 75 points on your credit score. It’s not worth the risk.
7. CONTINUE TO USE YOUR CREDIT AS NORMAL. Red Flags are raised easily with the
scoring system. If it appears that you are changing your pattern, it will
raise a red flag, and your score could go down.
8. CALL YOUR BROKER if you receive something in the mail from
a creditor or collection agency that you believe may affect your score during
the loan process. Your broker may be able to supply you with the
resources you need to stop any derogatory reporting to the bureaus.
Selling
your Madison MS property? Make sure you have it marketed for all eyes to
see! YOUR Madison, Brandon, Ridgleand MS
REAL ESTATE TEAM markets and lists your home FOR THE WORLD TO SEE!!! Not
just those looking here in MADISON MS, but people all over the country will see
your home for sale.
Buying or Selling your Madison MS Real Estate Home!
Spring and summer: The HOTTEST time for buying or selling your
Madison MS Real Estate Home!
Spring is here and summer is right around the corner. This time of year brings many people relocating to the Madison MS from all over the country. Why? Because Madison MS is a great place to live and is known for its strong family ties and involvement in the community.
The City of Madison MS has several fun activities for the entire family. Every spring Madison MS swings into summer with the biggest month-long picnic in the state of Mississippi. Like ˜Memphis in May, the highlight of this spring extravaganza is good music and childrens activities. Family and friends gather together to spread out their blankets, pack a picnic and enjoy the sounds of local bands. This fun filled event takes place at the Madison Square Center for the Arts in the heart of Main Street every Thursday in May from 6 p.m. to 8 p.m. After seven successful years, Swing Into Summer has become a family tradition.
Selling your Madison MS property? Make sure you have it marketed for all eyes to see! ˜YOUR MADISON MS REAL ESTATE TEAM markets and lists your home FOR THE WORLD TO SEE!!! Not just those looking here in MADISON MS, but people all over the country will see your home for sale.
We also take pride in working with Realtors nationwide with our referral program. Working with Realtors across the nation as well as our own exhibits maximum coverage when it comes to marketing your property. The Herrington Realty Team receives calls daily from qualified buyers looking for homes in the Madison MS area and we want to help you make Madison MS your next home.
When it comes to selling or buying that new home, acreage, commercial or large land tracks HERRINGTON REALTY TEAM brings a creative new marketing edge youve been waiting for.
WHETHER YOURE SEILLING OR BUYING LET OUR TEAM OF PROFESSIONALS WORK HARD FOR YOU. CALL HERRINGTON REALTY CO. TODAY. 601.977.1114
Buying or Selling your Madison MS Property
Spring and summer…
The “HOTTEST” time for buying or selling your
Madison MS Real Estate Home!
Spring is here and summer is right around the corner. This time of year
brings many people relocating to Madison MS from all over the country. Why? Because Madison MS is a great place to live and is known for it’s
strong family ties and involvement in the community.
The City of Madison MS has several fun activities for the entire
family. 
Every
spring
Madison MS swings into summer with the biggest month-long picnic
in the state of Mississippi. Like “Memphis in May”, the
highlight of this spring extravaganza is good music and children’s activities.
Family and friends gather together to spread out their blankets, pack a picnic
and enjoy the sounds of local bands. This fun filled event takes place at the
Madison Square Center for the Arts in the heart of Main Street every
Thursday in May from 6 p.m. to 8 p.m. After seven successful years, Swing
Into Summer has become a family tradition.
Selling your Madison MS property? Make sure you have it marketed for all eyes to see!
“YOUR MADISON MS REAL ESTATE TEAM” markets and lists your home FOR THE WORLD TO
SEE!!! Not just those looking here in MADISON MS, but people all over the country will see your home
for sale.
We also
take pride in working with Realtors nationwide with our referral program.
Working with Realtors across the nation as well as our own exhibits maximum
coverage when it comes to marketing your property. The Herrington Realty Team
receives calls daily from qualified buyers looking for homes in the Madison
MS area and we want to help
you make Madison MS
your next home.
When it
comes to selling or buying that new home, acreage, commercial or large land
tracks HERRINGTON REALTY TEAM brings a creative new marketing edge you’ve been
waiting for.
WHETHER YOU’RE SEILLING OR BUYING
LET OUR TEAM OF PROFESSIONALS WORK HARD FOR YOU. CALL HERRINGTON REALTY CO. TODAY. 601.977.1114
Helping Buyers Purchase Your Madison MS Homes
Herrington Realty Co. making your home dreams come true
This program is no longer available
Nehemiah Program:
This program is great for buyers that do not have a down payment and the seller is willing to participate. There are two main factors to this non profit program. Nehemiah will allow the seller to gift to buyer between 1-6% for down payment assistance. The average down payment contribution is 3%. Credit is not a factor for this program.
- No repayment of the gift funds
- No income, asset or geographical restrictions
- Free nationwide training and marketing support
- Free online homeownership education
Advantages:
- Ability to sell at full market value
- Increase buyer pool
- Reduce marketing time
- Simplify negotiations
- Fast Processing
Requirements
1. Buyer must pre-qualify and it can be with any lending institution, however, the buyer must let the loan office know up front that he is looking to participate in the Nehemiah program. Qualify for an eligible loan product that will ermit charitable organizations to provide gift funds to be used toward a buyer’s downpayment and closing costs.
Contact us at 601.977.1114 for more information on this program
Buying a home in Madison, Brandon or Jackson
Yes…There are several homes on the market in the Jackson Metro area, but contrary to what the media would have us believe, NOW IS A GREAT TO BUY!
It has been said that in the midst of any circumstance, there is always something to be thankful for. We can certainly thank God that the Mississippi market is not like other markets in the U.S. Homes are still selling and buyers/sellers are still getting top market dollar for their homes in the Madison, Brandon and Jackson MS Real Estate Market. Madison MS continues to be a highly sought after area, home values continue to soar and mortgage rates are at an all time low.Mark Gatermann of Trustmark can show you how to get the money you want with a great rate and low monthly payment. I have referred several buyers to Mark and my clients have been extremely happy with the reasonable rates they received. Whether you’re in search of a new or existing home, Mark has a loan to meet your specific needs. Mark Gatermann can be reached at 601.862.3993 or Mgatermann@trustmark.com Things to remember when purchasing an existing home:· Request a Home Warranty· Request a Home Inspection Benefits to purchasing a new construction home:· Better Warranties (Home warranty mandated by the State of Mississippi)· Energy Efficient Systems·New Appliances· Up to Date Features
