Hello! I need your help getting the word out about how I am attributing my buyer’s commission to my clients who have been victims of the Hurricane. It doesn’t matter if they were renting and have been displaced or if they currently own their own home. If you didn’t get a chance to read the story and PSA from the other day, you can read that here. Essentially what I am doing, is offering about 3% of the sales price. It can be used as a down payment or it can be used for closing costs (all subject to your lender’s approval). To learn more about other programs and about different types of loans, you can read about that here. If you are looking to sell your home, you can request a copy of my seller’s guide here. Thank you! <3xojo Jordan Marie Schilleci, REALTOR® Beth Ferester & Company 832-493-6685 call/text anytime
There are many options for lowering your closing costs and/or down payment amount, but the first question you need to answer (or investigate) is what is your credit score? If there are imperfections on your credit report making it drastically lower than needed, I personally do not recommend hiring anyone but a lawyer to help remove things from your credit report. I can recommend a low cost and reputable law firm, if you need one. If you are only off by 10-20 points, most lenders can give you recommendations on how to bump it up and do a “rapid rescore” all in the same week. Below, I will break down the different types of loans options in relation to credit score.. FHA :: 3.5% Down (580 minimum credit score and less than $2000 in collections debt.) If you find your credit score at least a 560, you can probably repair it to meet the minimum 580 required to obtain an FHA loan. FHA loans require 3.5% down plus closing costs. USDA Loan :: 0% Down (620-640 minimum credit score and a income must fall between a bracket.) A USDA Home Loan is a 0% down loan from the USDA loan program, also known as […]
Do you know that your REALTOR® can help you with closing costs? I am doing just that for my clients with a new program I launched earlier this year. You can read about that program below.. The Sharing Pieces of My Pie Program.. Did you know, on average, the state of Texas has the highest cost of closing? I would love more than anything to assist my buyers by absorbing some of the costs, so I developed a program. With the Sharing Pieces of My Pie Program, the buyer has the ability to earn up to $1000* towards closing costs, by following the guidelines below.. If you sign a buyer-rep agreement within the first 5 days, which basically says “I work for you, and you work with me exclusively, or in laymen terms, ‘I am your REALTOR®.’”, then I will credit you $200 towards closing. If you get your preapproval letter with my preferred lender within the first 14 days, and you close with this lender, I will credit you $200 at closing. If your initial offer gets accepted, I will credit you $200 at closing. If you close within the first 60 days, I will credit you $200 at closing. If you purchase an […]