We know that real estate investing can be daunting and overwhelming and with a lot of misnomers going around, we need a reliable person who will give us authentic and actual information about what is really happening in the real estate market. In this episode, Corwyn talks with the money expert which he calls, “the exponential money”, LaShan Abraham, a mortgage loan officer in Guild mortgage located in downtown Somerville. She helps homebuyers find the best home that fits their budget and helps them qualify for downpayment assistance.
As the market rapidly changes and home values continue to appreciate and skyrocket, loan limits also change. With these new conforming loan limits, LaShan explained how this new financing works that will surely become beneficial to you. What is the average credit score a person has to qualify for conventional financing? She further discussed the importance of debt income ratio and reserves to avoid significant indebtedness.
Becoming a homeowner as part of your new year’s resolution is a great way to start the year but you need to have a plan of action. Think of reality vs. the dream. You have to determine how much home you can afford, pull together funds for a downpayment, and don’t buy a new car if you think you can’t simultaneously pay a monthly mortgage.
Let’s Get started!
What You’ll Learn from this Episode:
- What is the new loan limits
- Understanding conforming loan limits and their threshold
- Requirements for down payment assistance
- FHA loan limits vs Fannie Mae Freddie Mac loan limits
- Reasons why some people don’t qualify for the financing program
- What is the average credit score to qualify for all financing
- Things to consider when planning to buy a home
- Taking a plan of action vs the dream
- How to prioritize your needs vs your wants without having trouble with financial issues
- How to handle your payments
- What you need to know about co-signing
Connect with Corwyn @:
- Contact Number: 843-619-3005
- Instagram: https://www.instagram.com/exitstrategiesradioshow/
- FB Page: https://www.facebook.com/exitstrategiessc/
- Youtube: https://www.youtube.com/channel/UCxoSuynJd5c4qQ_eDXLJaZA
- New Website: https://www.exitstrategiesradioshow.com
- AnchorFm: corwyn-j-melette
- Soundcloud: https://soundcloud.com/corwyn-j-melette/exit-strategies
- Website: https://corwynmelette.com/
Connect with LaShan @:
- Call: 843-303-8652
- Website: http://www.guildmortgage.com/lashanabraham
- Facebook Page: https://www.facebook.com/LaShanLoanOfficer
- LinkedIn: https://www.linkedin.com/in/lashan-abraham-a5436066/