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Pre-Qual’ed vs. Pre-Approved Clarity The mortgage process typically includes the initial phase of a pre-qualified and/or pre-approved status. They are not the same, and if you are able to distinguish the two, it could be the difference between having the purchase contract accepted or losing it to another buyer or agent. Pre-Qualified A pre-qualification means a lender has decided the borrower will likely be approved for a loan up to a certain amount, based on the current financial situation. To get pre-qualified, a person simply tells the lender income, assets, and debt. The lender will then take that unverified information and determine how much approximately the borrower will be approved for. There are no guarantees of an actual approval for the same amount or even in general for the borrower. While pre-qualification is often the first step of the mortgage process, most agents/sellers won’t take it seriously until actual pre-approval​. What Does it Mean to be Pre-Approved Distinct from, a pre-qualification, when getting pre-approved the borrower provides documented financial information (pay stubs, statements, obligations, credit report, etc.) to be reviewed and verified by the lender. A pre-approval is also based on credit report. The mortgage representative reviews the credit profile, to conclude if there are problems that might keep the loan from being approved through more intense review later in the process. The pre-approval letter typically states the type of loan qualified and how much can be borrowed. Something to keep in mind is that being pre-approved doesn’t guarantee the loan. There is still the application, underwriting process, and final approval. Being pre-approved indicates serious intent to purchase, so sellers look fondly upon buyers with pre-approval letters.​ Word of Advise The best way to move from pre-qualification to pre-approval to closing, is to work closely with your mortgage representative. At One Republic Mortgage, we strive to issue Pre-Approval Letters, carefully reviewing all of the required documents and credit. This gives the buyers an advantage, as we stand behind company’s decisions. Our experienced and professional staff has the ability to foresee any possible issues that may come up, in the beginning, and address them immediately. Realtor’s cooperation is also one of the important key factors to keeping on track with deadlines. #Mortgage #Lending #BusinessTips

Forget spring, fall is a good time to buy and sell. Historically the real estate buying season begins in early spring. Recent data reveals fall can be even a better time for both sellers and buyers in markets around the country! There are a few obvious reasons as to why the fall is easier, like how all the families looking to buy before school starts are out of the picture. But besides that, let us offer 6 additional reasons to consider a fall real estate purchase. 1. Less buyers are competing Families who want to be in a new home by the beginning of the school season are no longer shopping at this point. That translates into less competition and more opportunities for buyers. You’ll likely notice fewer buyers at open houses, which could signal a great opportunity to make an offer. 2. Sellers want to close the deal before the end of the year Because of how busy the summer market can be, some sellers who put their homes on the market then might be worn out form open houses and negotiations. After months of no offers, or ones they didn't consider at the time, these sellers are often ready to make a deal. 3. Sellers are more serious Remember, not all homes on the market in fall are summer leftovers. Some sellers might be selling in the fall because its the right timing for them. Maybe they are moving for a more specific reason - like a new job, or building a house. In any case, we find that sellers in the fall market tend to be serious, this means they are more willing and open to negotiate and sell in a timely manner. 4. Take advantage of tax breaks If you are a first-time homebuyers, take note: while you won't escape paying income tax, you can help alleviate what you owe when you become a homeowner, since property tax and mortgage interest are worth deductions you can take for your whole years’ worth of income, no matter what month you moved in. This can make a serious dent in the amount you owe the government at the end of the year. 5. You’re the center of attention With the fall being a slower time from buying/selling a home, waiting until the fall means that your agent is probably working with fewer clients. This is also true for other professionals you’re working with to buy a house. Mortgage lenders and title companies could possibly have a lighter work load in the fall, helping you to get through the process of buying a home quicker than expected. And while not in the front of your mind, it may be easier to move at this time too. With less people renting u-hauls or hiring moving services, the fall is a prime time to make sure you have the help you need when moving into a new place. 6. Holiday sales for home improvements bargains From furniture, to décor - or even appliances, when buying a house you might need a few things from each of these categories. You may even need items like these to fix up your current house before selling. At the end of the day, this is a great time to take advantage of all the sales out there: September is a great time for buying carpet and paint. October means lawn mowers go on sale, and appliances and cookware are cheaper in November.. We hope that this helps you determine if now the time to buy your next house is! And as always, we would love to work with you on securing that dream house today! Call us today for advise and solution 888-855-7211 #RealEstate #Lending #Mortgage #GoodTip

Un sueño. Una Casa. 1% DOWN PAYMENT El cliente solo necesita el 1% y One Republic contribuye con el 2% *, lo que te da 3% para el down payment de este programa. Great low rates I Close in 30 days I Available with no monthly Mortgage Insurance ¿Si tu cliente no cuenta con dinero?, un pago inicial del 1% esta disponible, Si es así, aprovecha este programa. Permítanos revisar su poder financiero y asesorarle que es lo mejor para sus clientes call: 888.855.7211 email: info@onerepublicinc.com #Mortgage #BusinessTips

ASK US ABOUT CONVENTIONAL 1% DOWN WITH EQUITY BOOST You put 1%, One Republic contributes 2%*, giving you 3% equity at closing Great low rates I Close in 30 days I Available with no monthly Mortgage Insurance Can you handle a 1% down payment? If so, you may be able to take advantage of a program this program. Let us review your financial power and advise on the best course of action. Terms and conditions may apply, contact to qualify your buyers call: 888.855.7211 email: info@onerepublicinc.com #Mortgage #BusinessTips

100% Financing Home Loans for New and Repeat Home Buyers. Do you have a client that wants to buy a home but doesn’t have the down payment? You’re not alone. 100% financing home loans are mortgages that finance the entire purchase price of a home, eliminating the need for a down payment. New and repeat home buyers are eligible for 100% financing through nationwide government-sponsored programs Qualifications - Fico 640 and above - 1-2 Units, SFH, Condo & PUD - 115% of Median Income - Previous BK are ok - Previous Foreclosure are ok - Maximum DTI Terms and conditions may apply, contact to qualify your buyers call: 888.855.7211 email: info@onerepublicinc.com #Mortgage #BusinessTips #Lending

One Republic Mortgage offers a variety of reduced documentation and alternative documentation loans for borrowers that cannot verify their income through traditional means such as bank statement loan program and assets as income loan program. BANK STATEMENT LOAN PROGRAMS. Our bank statement loan programs are designed for self-employed borrowers that are not able to verify their income with tax returns. We can verify deposits on business or personal bank statements for the last 12-24 months. ASSETS AS INCOME LOAN PROGRAMS. For borrowers that have significant liquid assets but do not show income can qualify for assets as income loan programs. No 4506T & Tax Returns are required. Reduced Documentation Loan Program Details 1. CPA letter (history + Income) & 2 months banks statements OR 2. CPA prepared P&L statement OR 3. Borrower prepared P&L Statement & 2 months bank statements OR 4. 12 Months personal or business bank statements Self-Employed & Wage‐Earners Only Purchase, R/T & Cash-out Refinance Owner Occupied, 2nd Home & Investment FR / PUD / Condo Primary & 2nd Home: 100% Gift Allowed First‐Time Home Buyers are allowed Our team is very knowledgeable and highly motivated to speak with you and your clients to piece together basic and more challenging scenarios. We will love to be in touch and hope you contact us. Terms and conditions may apply, contact to qualify your buyers call: 888.855.7211 email: info@onerepublicinc.com #Mortgage #BusinessTips #Lending

Trends in the Growing Self-Employment Sector While self-employment can give you more freedom and great satisfaction, it can also add some real challenges when trying to buy a home. Self-employed will approach 33 percent of the workforce in the coming years. There is something life-affirming about a ten-second commute. Walking from your master bedroom to your home office every morning, you don’t have to deal with traffic, standing in line at Starbucks for that cup ‘o joe, or dressing for success. If you have a separate storefront or office, you can arrive and work with pride knowing you have created your own work environment. But there are drawbacks to being self-employed, especially when it comes to qualifying for a mortgage. Why? Because lenders have a tougher time assessing your income. Self-employed individuals who plan to buy a home are wise to strategize several years in advance. If you understand how lenders consider mortgage applications and self-employment income, you can take steps to make yourself more appealing. Let’s look at some general guidelines for making you look attractive to that entity who would make it possible for you to become a homeowner. Lenders are all about the risk they will be taking on when they look at your mortgage application. They want to make sure they'll be able to get back the money they lend you, so it's important that you show enough income to cover the mortgage payments easily. This isn't that hard when you have a regular job to go to and steady paycheck showing a pattern of healthy income. For a self-employed individual, however, income can fluctuate. One month may find you in the pink, making more investments in your business, and the next might see you struggling to pay your bills. It’s also important to know that lenders consider your income after deductions, which means you must be extra careful with write-offs, such as phone and internet services, office supplies, business trips, etc. While taking those deductions may help to lower your taxes, it also lowers your usable income in the eyes of mortgage lenders which, in turn, raises your debt-to-income ratio. That ratio is a measure of how much money you have coming in and going out each month. And don’t forget about that pesky credit score. It’s a measure of how responsible you've been with borrowed money in the past, and it’s of great importance to lenders. It's vital to keep your credit score as high as possible if you want to give yourself the best chance of getting approved. Call us today for advise and solution 888-855-7211 #RealEstate #Lending #Mortgage

The Mortgage Bankers Association (MBA) is forecasting a sizable jump in new home sales in January. Based on responses to its Builder Application Survey (BAS), MBA estimates that applications for the purchase of newly constructed homes rose 18.4 percent compared to those during the previous January and were up 34 percent from December. The change is not adjusted to reflect typical seasonal patterns. Based on the application volume and other market data, MBA estimates sales during the month were at a seasonally adjusted annual rate of 700,000 units. This would mark a gain of 26.4 percent from December's pace of 554,000 units. On an unadjusted basis, the estimated change from December was 35 percent, rising from 40,000 to 54,000 new homes sold. "Mortgage applications for new homes surged in January and were up 18 percent on a year over year basis," ~said Lynn Fisher, MBA Vice President of Research and Economics. "This complements other positive news on US job growth suggesting that economic fundamentals are strong. Based on applications, we estimate that new home sales were running at a pace of 700,000 on a seasonally adjusted annual basis - the highest such estimate in our survey which began in 2013." MBA says 71.7 percent of loan applications received during the month were for conventional loans and15.3 percent, for FHA products. RHS/USDA loans had a 1.2 percent share and VA loans accounted for 11.7 percent. The average loan size of new homes decreased from $339,203 in December to $338,918 in January. MBA's Builder Application Survey tracks application volume from mortgage subsidiaries of home builders across the country. Utilizing this information, as well as data from other sources, MBA provides an early estimate of new home sales volumes at the national, state, and metro level as well as counts of the types of loans used by new home buyers. Official new home sales estimates are provided monthly by the Census Bureau. It records sales at contract signing, which is typically coincident with the mortgage application. Census Bureau data on new home sales in January will be published on February 26. #RealEstate #Mortgage

ASK US ABOUT CONVENTIONAL 3% DOWN PROGRAM Great low rates I Close in 30 days I Available with no monthly Mortgage Insurance 1. The program allows first-time and repeat buyers 2. Its minimum down payment is just 3% 3. The property must be a Primary Residence with a loan not exceeding $453,100. 4. The home being financed must be a one-unit property (including townhomes, condos, co-ops, and PUDs) and not a manufactured home. 5. The mortgage must have a fixed rate (adjustable rate mortgages [ARMs] are not eligible for the 3% down payment mortgage).​ Can you handle a 3% down payment? If so, you may be able to take advantage of this program. Let us review your financial power, and advise on the best course of action. Terms and conditions may apply, contact to qualify your buyers call: 888.855.7211 email: info@onerepublicinc.com #Mortgage #BusinessTips #Lending

Pre-kwalifikacja vs. pre-approval Proces o przyznanie kredytu hipotecznego zaczyna się od wstępnej kwalifikacji (pre-qualification) lub wstępnego potwierdzenia (pre-approval). Wielu agentów pożyczkowych używa tych dwóch zwrotów na przemian, lecz jest między nimi kolosalna różnica, co może mieć wpływ na to czy twoja oferta zostanie przyjęta czy też nie. Pre-kwalifikacja (pre-qualified) Oznacza to, że bank kontaktował się z klientem i omówił sytuację finansową klienta. Informacje użyte są podane bezpośrednio od klienta (bez werifikacji), co często nie oddaje dokładnie sytuacji finansowej. Osoba zainteresowana podaję swoje zarobki, wydatki oraz aktywa, a bank określa na podstawie podanych informacji w przybliżeniu na jaką kwotę pożyczki można zakwalifikować klienta. Nie ma żadnych gwarancji, że informacje otrzymane od klienta są prawdziwe, ani że po werifikacji klient nadal będzie w stanie zakwalifikować się na daną pożyczkę. Jest to zazwyczaj pierwszy krok w procesie pożyczkowym, ale większość agentów/sprzedających nie uzna wstępnej kwalifikacji przy składaniu oferty na kupno​. Co to oznacza byc pre-approved? W odróżnieniu od wstępnej kwalifikacji, pre-approval oznacza, że klient przesłał swoje informacje finansowe do banku (odcinku z czeków z wypłaty, historię kredytową, itp), i bank przejrzał i zweryfikował informacje. Daje to pełny obraz zdolności finansowej danego klienta. Dobry agent pożyczkowy już w tym momencie może znaleźć źródło późniejszych problemów lub rozwiać niepewności klienta. Trzeba pamiętać, że nawet pre-approval nie gwarantuje otrzymania pożyczki. W skład tego procesu wchodzi jeszcze aplikacja, process gwarancji od banku (underwriting) i finalny approval. Sprzedający oraz agenci nieruchomościowi będą w stanie złożyć lub zaakceptować oferty klientów, którzy przeszli już pre-approval.​ Koncik porad Najlepszą metodą przejścia procesu pożyczkowego jest bliska współpraca ze swoim agentem pożyczkowym. W One Republic Mortgage przykładamy dużą wagę do tego, aby nasze pre-approvals gwarantowały możliwość kupna i bardzo starannie przeglądamy informacje finansowe waszych klientów. #Mortgage #Lending #BusinessTips

Pre-calificación vs. Pre-aprobación El proceso de la hipoteca normalmente incluye la fase inicial de un estado precalificado y / o pre-aprobado. No son lo mismo y pueden distinguirse, esto podría ser la diferencia entre aceptar el contrato de compra o perderlo ante otro comprador o agente. Pre Calificado Una pre-calificación significa que un prestamista ha decidido que el cliente probablemente será aprobado para un préstamo hasta cierto monto, en función de la situación financiera actual. Para ser pre-calificado, una persona simplemente le dice al prestamista los ingresos, los activos y la deuda. El prestamista tomará esa información no verificada y determinará cuánto aproximadamente se aprobará al cliente. No hay garantías de una aprobación real por la misma cantidad o incluso en general para el cliente. Si bien la pre-calificación es a menudo el primer paso del proceso del prestamo, la mayoría de los agentes / vendedores no lo tomarán en serio hasta la aprobación previa real​. ¿Qué Significa ser Pre-aprobado? A diferencia de una pre-calificación, al obtener una pre-aprobación, el cliente proporciona información financiera documentada (recibos de sueldo, estados de cuenta, obligaciones, informe de crédito, etc.) para ser revisada y verificada por el prestamista. La pre-aprobación también se basa en el informe de crédito. El representante de hipotecas revisa el perfil de crédito, para concluir si hay problemas que podrían impedir que el préstamo sea aprobado a través de una revisión más intensa más adelante en el proceso. La carta de aprobación previa generalmente indica el tipo de préstamo y para cuanto puede ser calificado. Tienen que tener en cuenta es que ser pre-aprobado no garantiza el préstamo. Todavía existe la solicitud, el proceso de aplicación y la aprobación final. La aprobación previa indica una seria intención de compra, por lo que los vendedores miran con cariño a los compradores con cartas de aprobación previa.​ Consejo La mejor manera de pasar de la pre-calificación a la pre-aprobación es trabajar estrechamente con su representante hipotecario. En One Republic Mortgage, nos esforzamos por emitir Cartas de Pre-Aprobación, revisando cuidadosamente todos los documentos requeridos y el crédito. Esto les da a los compradores una ventaja, ya que respaldamos las decisiones de la compañía. Nuestro personal experimentado y profesional tiene la capacidad de prever las posibles situaciones que puedan surgir al principio y abordarlos de inmediato. . #Mortgage #Lending #BusinessTips

PINTURA Debido a preocupaciones relacionadas con la pintura con plomo, la casa no puede tener pintura descarapelada. Comúnmente encontrado en: Hogares construidos antes de 1978. Solución: se requiere repintar o quitar toda la pintura existente. SERVICIOS PÚBLICOS Todos los tomacorrientes GFI, luces, plomería, electrodomésticos y sistemas de calefacción y refrigeración deben estar operando y encendidos en la fuente de alimentación principal antes de la inspección. Comúnmente encontrado en: Propiedades vacantes, propiedades propiedad de bienes raíces, ventas cortas, ejecuciones previas a la hipoteca. Solución: los accesorios y sistemas de utilidad defectuosos deben repararse o reemplazarse. VENTANAS El Departamento de Vivienda y Desarrollo Urbano (HUD) de los EE. UU. Y algunos inversionistas convencionales requieren que las ventanas de los dormitorios con barrotes sin acceso exterior tengan cierres de seguridad. Comúnmente encontrado en: unidades de jardín y propiedades a nivel de calle en áreas urbanas. Solución: Ventanas sin cierres de liberación de seguridad debe ser modificado. PASAMANOS Para cumplir con los estándares de seguridad de la propiedad de HUD, todos los pasos y escaleras deben tener pasamanos. Comúnmente encontrado en: Propiedades con más de un piso o entradas de nivel elevado / bajo. Solución: los pasamanos deben instalarse cerca de los escalones y las escaleras que no los tienen. POZO, ABASTECIMIENTO DE AGUA Y SISTEMAS SÉPTICOS El pozo o tanque séptico y las líneas de lixiviación deben estar equipados, identificables y a una distancia aceptable de las líneas de propiedad y las fuentes de contaminación. Comúnmente encontrado en: Propiedades antiguas, propiedades rurales. Solución: Estos sistemas deben actualizarse o reemplazarse si fallan una prueba de pozo de agua. #Appraisal #NewHouse2018 #Mortgage #Spanish