Couple Talking with Larissa About Home Loan

29 Jul

3 Home Loan Officers Share Their Best Advice

You’ve been scrolling through home buying sites for days. You get multiple alerts when new homes come on the market. Not to mention your real estate agent keeps texting you. But, have you tapped into the knowledge of your local home loan officers? Skip the national conglomerates who just want to talk to you through a chatbot and talk with a real person, either one-on-one in their office, over the phone or through email. Our Signet loan officers work hard to be available to you for your questions throughout the process.

We asked three of our home loan officers to share their best advice for new home buyers. Have you checked everything off on their list?

Patsy Marine, Signet Loan Officer NMLS #868921

Patsy Marine, Signet Loan Officer

Patsy is a great asset to anyone needing to buy a home. Even if you’re just starting the process and trying to figure out what you can afford, don’t hesitate to reach out with your questions.
Here are a few things Patsy wants you to do:

  • Check your credit score. Is it where it needs to be to get a good rate?
  • Gather all tax information from the last two years along with your W2s. You’ll also want to have your most recent month’s pay stubs available.
  • Talk to us and get pre-approved before you try to put in an offer on a house. This makes the process so much smoother.
  • Work with a real estate agent because in most instances these services are free to you. Their expertise in the market and in negotiating can be extremely valuable.

Connect with Patsy here: pmarine@signetfcu.com

 

Drew Ramage, Signet Loan Officer NMLS #747175

Drew Ramage, Signet Loan Officer

Drew has been helping Signet customers for 15 years with home loans, auto loans and other needs in-between. Here’s what he wants you to know as you start looking for your first home, your dream home or your down-sized home:

  • My first piece of advice, don’t put your current dwelling up for sale until you find what you want to purchase. Homes are selling so quickly right now. You don’t want to put your place up for sale, accept an offer, and then have nowhere to go.
  • Before you start house shopping, get pre-approved for a mortgage loan. This way, when you make an offer, the seller knows you are approved for the loan.
  • You don’t have to get a third-party loan which is what most banks will offer you. At Signet, we have some great in-house mortgage options that are very competitive in today’s market.

Chat with Drew now! Email him here: dramage@signetfcu.com

 

Larissa Thompson, Signet Loan Officer NMLS #777392

Larissa Thompson, Signet Loan Officer

Larissa is here to not only help you buy your home, but help you prepare before you purchase. She’s interested in helping you make a smart decision for your budget and wants to make sure you’ve considered everything before moving forward. Here are a few of her tips:

  • First, I would recommend all borrowers obtain a free credit report to review and resolve any potential credit issues. Everyone is entitled by Federal law to review their credit report annually at no charge by visiting www.annualcreditreport.com. You can obtain a free copy of your credit report every 12 months from each of the three credit reporting companies. By reviewing the information reported, you have the opportunity to be sure there has been no identity theft in your name, resolve or dispute any incorrect items reported, pay any collections and catch up on any past due accounts. It is so important to not be late on any obligations. Your credit score will determine the interest rate for your loan. The higher the credit score, the better rate you will be eligible for.
  • Decrease the number of monthly payments and obligations by reducing your debt first. The less debt you have overall, the more your hard-earned income can work for you by having extra residual income for other expenses or savings.
  • Once you have reduced your debt, then take those payments you were giving to someone else and pay yourself. Save, save, save! To obtain a loan, you’ll need to save for closing costs and also your home’s down payment which is usually 10-20% of the purchase price. Here’s a great article if you’re still a year or two away from being ready to buy.

Give Larissa a call today: 270-443-5261 ext. 407 

Searching for your home is the fun part. But you want to make sure you’ve prepared with the right amount of savings, all the necessary paperwork, and have an envious credit score. Even if you’re not quite there yet, working with Signet loan officers can help as you build up your financial situation. From counseling to lower fees, we’ve been here for YOU for more than 83 years! Learn more about becoming a Signet customer here or about some of our home loan options here.

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