KNOWLEDGE CENTER

Because of recent and ongoing changes in the mortgage marketplace some home buyers are getting left out in the cold. The process of shopping for a home is often a 30 day or more experience. In todays mortgage lending environment 30 days can often mean drastic changes in lender programs and guidelines. With rapidly changing programs and ever dynamic guidelines you should take extra caution when being pre-approved to ensure your home buying experience goes smoothly. Here are tips to ensure your closing is hassle free as well as some pointers on what to do if your loan program is no longer available.

Get a co-borrower and take title as Tenants in Common. Make sure your co-borrower has documentable income and good credit. You may also want to draw up a seperate agreement with stipulations on how the property profits (if any) shall be divided when sold.

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