Real Estate Information

Things aren’t what they used to be when it comes to getting a home loan. When I bought my first house I went to a banker who knew me, shook his hand, and Poof, I had the money to buy the home of my dreams!

Things have changed in recent years due to so much fraud and default of home loans back in the 2008 era of lending when people did not have to show income documentation and had poor credit but could still obtain a home loan. More documentation is now necessary to prove you are ready to take on this responsibility.

You are probably thinking that the loan application is merely a static action-or a “snap shot” of your financial picture at this given moment in time. I am here to let you know that it is just not that simple. Whether or not you shop for your home loan on the internet or work with a local lender, the process can be detailed.

A credit decision is based on a review of EVERYTHING you have done over the past years as well as EVERYTHING you do right up until the day of closing.

I am a professional with 25 years of experience in lending, to GUIDE you as you NAVIGATE The Home Loan Process….so feel free to call me - I have the tools and can help you! This is a time when the internet doesn’t have all the answers!

JUDYINGELS

Lending Consultant                                                                                                                                     719-229-7999                                                                                                                                     judy@judyingels.com

Just like the Superbowl, you want to be on the winning team when you buy or sell a home!  A winning real estate team has a great managing broker, talented realtors, lots of options, well rehearsed plays, and lots of training and experience.  Trust your greatest asset to a winner!  Call Broadmoor Bluffs Realty today at 719-579-9211.  

Have your Peeps call our Peeps!  Spring has sprung, and the tulips are peeking through the soil.  This reminds me of two things - buying and selling homes, and doing taxes!  We are here to help with the real estate thing!  The real estate market is heating up, along with the weather.  Our experienced team is ready to show you homes, or place your current home on the market for sale. 

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.