Steve Andre

Steve Andre
Phone: 510.552.5572
Office: 510.580.6991
Fax: 510.744.3530
License #: 01371685







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    Loans

    Having trouble
    finding a lender?

     Too many choices? Give me a call at (510) 552-5572 or send me an email. I can help steer you through the maze.

    Are you aware
    that there are ways
    to make non-tax
    deductible closing
    cost deductible?

    Give me a call
    and lets talk.

     

    T    he first step in buying a home is arranging to pay for it. This is a critical step and should be addressed before you start looking. Here are a few reasons why:

    Knowing how much you can afford: The mortgage company will determine how much you can afford at the current rates taking into consideration your debt and income.

    Giving you negotiating power: This often overlooked psychological negotiating tactic can help you get a better price or become the offer of choice in a multiple offer situation. A truly pre-approved buyer is almost as good as a cash buyer.

    Pre-approval vs. Pre-qualification: These terms are often used interchangeably but they are VERY different. Pre-approval means a qualified lender AND underwriter have reviewed all you financial information, verified it and have FORMALLY approved you to get a loan up to a certain amount. All you need to finalize the loan is a sale contract for a house that you can afford and the only contingency is that is appraises for at least the purchase price.

    Find a lender you trust: Be choosey when selecting a lender. Some will tell you anything you want to hear to get your application and make promises they can not deliver on. They will keep saying everything is great and not to worry and then days before closing call to say you loan is approved conditionally and you need for example, more money down or have to take a higher rate. At that point you are stuck and end up taking whatever they will give you.