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Worse, because we are not yet leveraging the power of big data in our industry, for reasons we will discuss in this article, most of the technology deployed on the front end is not being well adopted and utilized and its effects on the back-office have been negligible. In other cases, the loanofficers didn’t trust the technology.
Schaechterle suggests that part of developing trust is by setting up clear expectations for a new home buyer. A good agent is willing to share their knowledge of different areas, as well as share their contacts regarding loanofficers, essential documentation that shows sellers the buyers are serious, among other services.
Select the right location for your property: consider the local benefits of a neighborhood, such as amenities, schools, shopping, general safety, transportation, etc. Speak with a Pennymac LoanOfficer to explore your financial options. The more the area has to offer, the more your rental will be desirable and profitable.
Is it a classic Victorian set far back from the road with stately elm trees shading the formal garden, or a brand-new split level in an up-and-coming housing development with a communal pool, tennis courts, and a playground for the kids? What does your ideal home look like? Old vs. new: It's an age-old debate. Uncertainty.
On top of carving out a large chunk of your paycheck for rent, you also likely have to pay for utilities, groceries, transportation, insurance and internet — not to mention the costs of treating yourself to luxuries like vacations and going out to eat. Remember, not all mortgage loans permit the use of gifts for a down payment.
If you’re signing paper documents, they’ll need to be transported, and the courier fee will be what pays for that to be expedited. If you’re buying a condominium or a property in a planned development, you will be required to join the homeowner association (HOA). Speak to a Pennymac loanofficer today to get started.
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