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!
Here Are 7 Tips To Help Your Loan Process Go Quickly and Smoothly
1. Make sure your credit is in good shape
- Check your credit score
- Excellent Credit: 750+
- Good Credit: 700-749
- Fair Credit: 650-699
- Poor Credit: 600-640
- 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 is often required by the lender
3. Obtain proof of employment for the past 2-years
- W2s 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
VALOR LENDING GROUP OFFERS EVERY MORTGAGE LOAN IN THE BOOK!
CALL or EMAIL for immediate attention to your scenario!
Recap of our Loan Products
- Hard Money Loans (20% down / minimal documentation) Typically Fund in 7-10 days.
- Stated Income Loans (Great for business owners and self employed ) No tax returns!
- 100% financing is available (we can cross collateralize other properties if there is enough equity)
- Valor VA Home Loan 100% financing up to $1.5MM
- Rental Property Loan – No tax returns or DTI calculation! Based on subject property cash flow – No DSCR Coverage needed!
- Flipper & Rehab Loans (Flip a property with one of our many options)
- 2nd Position Loans up to $5mm
- Raw Land & Lot Loans
- Ground up Construction for spec homes, custom homes and commercial ground up.
- Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
- 10% down Jumbo’s up to $1.5mm
- Manufactured Housing / Mobile Homes (20% down / 600+ credit score)
- Acreage Properties
- Commercial Loans up to $500mm
- 3% & 5% down Conventional Loans– LPMI (Lender paid mortgage insurance)
- Foreign Nationals Loans (no social security or residency required)
We Also Offer:
- Conventional Conforming Loans
- High Balance Conforming
- Jumbo Loan Financing | 10% down Jumbo to $1.5mm
- FHA, USDA
- Reverse mortgages up to $1 Million Value
- Cash Out Refinancing
**Rates and terms subject to change without notice
We are never too busy for your referrals!
For the most up to date mortgage news visit: Mortgage News Daily
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Did we miss anything?
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