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Useful Tips to Purchasing a Home | Valor Lending Group

Are you ready to purchase a home of your own?

Are you interested in learning some useful tips to purchasing a home?

Purchasing a home can be very stressful, especially if you don’t know where to start. When getting ready to purchase a home there are certain things to consider.

Valor Lending Group is here to help you purchase your new home TODAY!

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What are the 4 C’s of a loan?

The 4 C’s stand for Capacity, Capital, Collateral and Credit. This may differ from lender to lender but these are the 4 main components.

Looking to Purchase a Home?

Here are a few tips to help your loan process go quickly and smoothly.

1. Make sure your credit is in good shape
   • Check your credit
     • Excellent Credit: 750+
     • Good Credit: 700-749
     • Fair Credit: 650-699
     • Poor Credit: 600-649
   • Try to get your credit card balances below 40% of the limit
   • It’s best to have at least 3 open and active accounts listed on your credit report
2. If you’re renting, pay by check
   • Having documented proof of your last 12 months of payments on your credit report
3. Obtain proof of employment for the past 2 years
   • W2’s and tax returns
   • Paystubs covering 30 days
   • Be prepared to explain any gaps in employment
4. Avoid large deposits or withdrawals from your bank account
5. Determine a down payment amount based on your available funds
6. Obtain a pre-approval letter from an Independent Mortgage Professional
7. Research a local real estate agent

Bottom Line

Valor Lending Group is here to help you with all of your home purchasing needs. Give us a call today to discuss your mortgage loans options.

CALL or EMAIL for immediate attention to your scenario!

Recap of our Loan Products

1. Hard Money Loans (20% down / minimal documentation) Typically Fund in 7-10 days.
2. Stated Income Loans (Great for business owners and self employed ) No tax returns!
3. 100% financing is available (we can cross collateralize other properties if there is enough equity)
4. Valor VA Home Loan 100% financing up to $1.5MM
5. Rental Property Loan – No tax returns or DTI calculation! Based on subject property cash flow – No DSCR Coverage needed!
6. Flipper & Rehab Loans (Flip a property with one of our many options)
7. 2nd Position Loans up to $5mm
8. Raw Land & Lot Loans
9. Ground up Construction for spec homes, custom homes and commercial ground up.
10. Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
11. 10% down Jumbo’s up to $1.5mm
12. Manufactured Housing / Mobile Homes (20% down / 600+ credit score)
13. Acreage Properties
14. Commercial Loans up to $500mm
15. 3% & 5% down Conventional Loans– LPMI (Lender paid mortgage insurance)
16. Foreign Nationals Loans (no social security or residency required)

We Also Offer:

1. Conventional Conforming Loans
2. High Balance Conforming
3. Jumbo Loan Financing | 10% down Jumbo to $1.5mm
4. FHA, USDA
5. Reverse mortgages up to $1 Million Value
6. Cash Out Refinancing

**Rates and terms subject to change without notice

We are never too busy for your referrals!

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