Looking to buy a home? What do you need to bring to the bank, what paperwork do you round up to prepare for the bank mortgage home loan approval letter?
Well, take the hike. To speed up the bank home loan pre-approval process done before you set your sights on the house of your dreams, here is what is needed by the mortgage lender. Anything that verifies your income, spells out the short and long term debts, and a list of your assets to determine your net worth.
The lender with the money you need to buy the home can send or hand you the application form and you hit and run on your way.
But it is nice when you bring all you need to complete it to the bank. When you the buyer seeking pre-approval home loan status ready have what the numbers are on hand. The ones used to fill in the question spaces to get pre-approved for a home loan.
Local banks are great because they have a presence in the community and you are doing business with someone with a stake in the home town area economy where you live, work and play.
The service inside the bank and from all the venders provided is quicker on the turn arounds too. Because the mortgage approval center that creates the paperwork is in town, your state not in some other solar system where decisions are slow in the shuffle of documents needed for a home loan approval.
Sellers take home buyers who make offers way way more serious when that purchaser is carrying a pre-approval mortgage loan credentials in hand.
When the home buyer already knows the program the loan will be underwritten in and no credit history issues are holding him back from moving forward to buy the seller's home if the negotiations go well.
You bought a home that needs a house addition, but before you bring out the staging and nail gun, hold it a minute.
The addition to the house in Maine better have lots of thought put into the construction plans. Because the original home may not be designed for the addition you had in mind. The cost of the construction you dream about needs a solid quote before you go after the local building permits too.
As a Maine real estate broker, I have been in quite a few houses over the last 38 years.
And improving a home starts with careful thought if you ever hope to recover the costs of the expenditures in a small rural state. Where what works in an urban market that is more forgiving and with more zero places in the property prices does not play so well in the lower cost small rural real estate arena.
So first things first when the time comes to consider adding on the existing house in Maine to create something different.
The building addition on the house you own in Maine. Which direction for the expansion... and is developing unused space that is already here the smartest way to go?
Fill in and rearrange what you already have could be wise for the limited funds hiding in your wallet or purse. Or thinking of financing the construction when pretty close to being free and clear of a house mortgage could mean let's study this need for more, better use of space DIY project.
Maine is famous for bartering, folks pitching in to exchange skills and sheer labor to avoid the high cost of living facing a home owner planning construction projects.
Lots of homes out there on the five year construction plan that have table saws in the living room. Two by fours, plywood tables where the eventual kitchen cabinets will slide in. Unfinished but paid for and as you go for the extra materials. Slowly and carefully added into the housing creation to be a work in progress.