Rave Reviews: Brandi P. (Princeton, TX)

“Shannon definitely takes the time to get to know her clients’ needs and wants. She made sure we felt safe with the house we bought, and that we would be truly happy living there.

She went out of her way to get to us if we were unable to meet with her — that was very helpful, too.

I will be using her again in the future. DEFINITELY RECOMMENDED!”

—Brandi P., Princeton

 

Looking for a REALTOR® who will get the job done? Contact me at 267.566.3448 or email me at shannon.rubin1@gmail.com today!

© 2014 Shannon Rubin.

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How to Buy a Home With Bad Credit

Lots of people are dealing with bad credit. (No judgments here!)

You could have credit issues for a wide variety of reasons:

Maybe you made some bad decisions…

Maybe you were just unlucky…

Or maybe your credit report has errors that you don’t know about— a recent study shows that 1 in 4 Americans have had issues with their credit report.

Image courtesy of digitalart at FreeDigitalPhotos.net

Image courtesy of digitalart at FreeDigitalPhotos.net

But it’s not impossible to buy a home with bad credit — maybe tougher than normal, but it can be done. Here’s how:

1) Know your score.

First, you need to know where you stand in the credit world. Find someone you trust who can “pull” your credit. (I don’t usually recommend those “free credit check” websites — they usually require a subscription.)

Once you see what’s on your credit report, it might just mean paying off some credit cards or a medical bill — which could be the difference in qualifying for a mortgage.

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“37% of American adults admit they don’t know their credit score.”

(Source: FINRA Investor Education Foundation, Sallie Mae,
TransUnion, Experian, U.S. Department of Housing;
http://www.statisticbrain.com/credit-score-statistics/)

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2) Find a loan officer.

If you already know someone in the business, great. If not, chances are a friend or colleague knows a mortgage loan professional who can help. (I’m happy to refer you to one of my trusted colleagues.)

You definitely need a hard-working pro who you can trust. Their main responsibility is helping you find which loan programs and amounts that you qualify for and fit your budget.

3) Develop your plan of action.

If your credit issues need serious work and you don’t qualify for a mortgage loan right away, you might have to postpone your house purchase — but not forever.

Now that you know what your credit issues are, you can work towards paying off old debts and getting them removed from your credit report.

Also, there may be sellers who will consider working with you by way of asking for a larger down payment. This could require a multi-month plan to save cash for your down payment.

4) Think before you budget.

We’d all like a big mansion for the price of an efficiency apartment. But in reality, it’s crucial to look for a house that fits your budget.

That doesn’t mean you can’t have a nice house in a good neighborhood with exemplary schools and a beautiful park. It just means you need to ask yourself some very important questions:

  • How much of a down payment can you afford?
  • How much of a total monthly payment can you afford?
  • What kind of term loan would you like (how many years — 15, 30, etc.)?
  • What interest rate can you qualify for?
  • What’s your loan-to-value ratio? (Divide mortgage loan amount by the fair market of the home value.)
    Ex.: A $150,000 loan on a home appraised at $200,000 = an LTV of 75%.
    Note: Most mortgage loans with an LTV that’s more than 80% require private mortgage insurance.
  • What can you afford to pay in yearly property taxes?
  • What can you afford to pay for yearly property insurance?

Try the “How Much Can You Afford?” calculator from “Freddie Mac” here.

(Freddie Mac is the Federal Home Loan Mortgage Corporation.)

Bad credit? Mediocre credit? Good credit? Excellent credit? Whatever your score, I know how to help you find your next home.

Call me at 267.566.3448 or email me at shannon.rubin1@gmail.com today!

© 2013 by Shannon Rubin.

Quick —— Buy a Home by the End of the Year!

OK, this particular blog entry isn’t for everyone. Even if you’re not looking to buy a home right now, the message is worth keeping in mind for your next home search:

There are lots of great reasons to buy a home before the end of the year.

Image courtesy of dan at FreeDigitalPhotos.net

Image courtesy of dan at FreeDigitalPhotos.net

Here are some of them:

  • Mortgage rates are still relatively low.

They’re not as low as they were a few months ago, but mortgage rates are still more attractive today than they have been in recent years. If you can lock in a good rate now, that can be a lasting benefit that helps you for many years.

  • It might be easier to get a mortgage right now.

Lenders may be willing to work with new customers like you — because recently, less people have been applying for loans. So you could possibly get a better rate and more friendly terms than you might think.

  • Home prices are still within reach.

Although inventory is shrinking, many available homes are still reasonably priced — especially homes that have been on the market for a while. Those sellers in particular might be willing to lower their price to get a deal done before the year ends.

  • And one of the best reasons to buy a home by the end of the year…the tax benefits!

There are few deductions bigger than a home purchase. By completing the transaction in 2013, you could stand to get a lot of help on your income tax return!

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Maybe you were planning to buy a home next year, or you’re just tired of paying rent. Whatever your situation is, a home purchase before the end of this year can be beneficial — and I can help you see if it’s possible!

Find out if buying a home in Frisco, McKinney, Allen, Plano, Richardson, Dallas, or anywhere in north Texas is the right move for you! Call me at 267.566.3448 or email me at shannon.rubin1@gmail.com today!

©2013 by Shannon Rubin.

I Can Help You Buy & Sell A Home Anywhere (in the U.S.)

A few weeks ago, we were visiting family and friends back on the East Coast, and we drove by a familiar sight. It was a Coldwell Banker sign in front of a home.

A welcome sight!

A welcome sight!

Seeing my company’s logo 1,500 miles from home reminded me of something important — the fact that I can help home buyers, home sellers and renters anywhere in the United States.

How Can I Help You?

Although I can’t be your actual REALTOR® if you’re not in Texas, I can do a variety of things to help you buy, sell or rent throughout the country:

  • I can refer you to one of my fellow Realtors from a Coldwell Banker office close to you

  • I will consult with my colleague to make sure that he/she is providing you with the same level of service you would expect if you were working directly with me

  • I can answer questions if you can’t reach them for some reason

  • I will help to make sure that you get a fair price

  • I will stay in touch with you and my colleague every step of the way

It’s like you get two Realtors for the price of one — and one of them is me!

From Alaska to Washington, D.C., I can help clients like you throughout our great country.

Whether you’re moving a few blocks, a few cities, or a few states away — call me at 267.566.3448 or email me at shannon.rubin1@gmail.com today!

© 2013 by Shannon Rubin.

How To Buy A Home in a Seller’s Market

If you’re trying to buy a home — but discovering that it’s now a seller’s market — I’ve got two words of advice, stolen from Douglas Adams: Don’t panic!

dontpanic

Here are three things you can do to make being a successful buyer in a seller’s market:

1. Be persistent.
It’s tougher to find a good deal, so you’ve got to be active and aware of what’s available. This is where having a smart, attentive REALTOR® can be helpful. They can help you stay on top of new listings and make sure any negotiations move at the right pace.

2. Be specific.
There’s a limited “inventory,” so you might have less to choose from in your search. So make sure that you (and your REALTOR) know exactly what you’re looking for — and where you’re looking for it — so you’re not wasting time or energy.

3. Be a smart negotiator.
It’s very likely that today’s home seller will have multiple offers on their property. It’s even more likely that those offers will be at their asking price or even above. Don’t waste your time — or theirs — with “lowball” offers. Make a fair offer, and you might even want to think about paying fees and closing costs to help seal the deal.

Don’t lose hope — just because it might not be the absolute best time to be a home buyer, you can still find the right home. (It just might take a little more work!)

Above all, be smart! Choose wisely when it comes to working with a REALTOR® — maybe even one with mortgage experience like me. 😉

Contact me at 267.566.3448 or email me at shannon.rubin1@gmail.com today!

 

© 2013 by Shannon Rubin.