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<p><B><FONT COLOR="#0000ff"> <font color="#000000">Buying a home can be
a very rewarding and enjoyable experience, when you are properly prepared.
Being prepared means knowing what you want and can afford. In order
to have everything work to your advantage you must have knowledge of
your financial situation and be prepared to back it up with credible
records. The benefits of preparing to buy a home far out weigh what
a person experiences when they are not prepared. Being unprepared means
that someone else is in charge of your choices. This may mean that they'll
be working to their best advantage and not yours. <br>
<br>
</font></FONT></B><font color="#000000">Choosing a home to buy doesn't
mean an instant mortgage approval. Mortgage approvals are based on the
ability and willingness to pay the mortgage according to the terms of
the mortgage company. It is wiser to get prequalified by a mortgage
lender first. This way you are in control. The prequalifcation letter
that you get from a mortgage company or bank says you qualify to borrow
a certain amount of money. With this prequalification letter the process
of buying a home becomes as easy as finding the home and making an offer.
The typical stress of getting a mortgage is removed ahead of time, leaving
a situation where the focus is solely on finding the home you can afford.
</font></p>
<p><font color="#000000">The steps to getting a quality prequalification
letter take time and discipline. It requires keeping good records and
putting your financial situation on paper. Whether you find a home first
or not mortgage approval is a must if you need to finance your home.
It is much better to have a mortgage approval before you choose the
home you want to buy than it is after. Once you received approval for
a mortgage you have the advantage. </font></p>
<p><font color="#000000">The first step is to get a copy of your credit
report. Contacting one of the credit reporting agencies can do this.
Knowing your credit status is vital in your preparation to purchase
a home. Once the credit report is received, you should: </font></p>
<p><font color="#000000">1. Review the report to make sure the information
is correct </font></p>
<p><font color="#000000">2. Report incorrect information to the credit
agency </font></p>
<p><font color="#000000">3. Bring late payments and past due accounts
current. </font></p>
<p><font color="#000000">4. The next step is to get your tax return and
W-2's for the last two (2) years, bank statements for the last three
(3) months, twelve (12) cancelled rent/mortgage checks and one (1) month
of recent pay stubs. This information will give the mortgage lender
a snapshot of your present financial situation and enable the lender
to give you a prequalification letter. If there are problems, the lender
will be able to tell you what you can do to qualify in the near future.
</font></p>
<p><font color="#000000">Start preparing now to purchase that home. Get
your credit report and other financial information together. Set up
a savings plan to help set aside the funds necessary to purchase your
home. Remember, buying a home should be a rewarding experience. Managing
your finances wisely and keeping good records will pay off in time.
When you plan and prepare, the home of your dreams is bound to be yours.
<B><br>
<br>
For further information or assistance please contact us at by <br>
856-546-0210 or e-mail us at <A HREF="mailto:%[email protected]">[email protected]</A>.</B></font></p>
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