Michael Allen Sell at Eustis Mortgage
Loan Officer specializing in residential home loans for purchase, refinance, or investment. NMLS #1640823
Eustis Mortgage NMLS #70345
12/07/2024
Spread the word and reach out for more info.
15/12/2021
🗝️ Want to buy a home down the line, but don't know how to prepare in advance? Here's what to do in 2022:
🗝️ Credit--Pay any credit cards down to below at least 30 percent of your max. Pay off $ for $ anything derogatory making your scores drop, and make sure to get paperwork showing 0 balance. No late pays.
🗝️Job/Income-If you quit your W2 job to become self employed, then you'll have a 2 year wait to buy a home, so hang tight. And if you are self-employed, then expensing all your revenue could leave you too low net income for enough buying power. Get as much OT as possible to help boost your average and put more money in the bank for...
🗝️Assets--Build up as much as you can for down payment (Conventional 3 percent & FHA 3.5 percent for a 1-unit) and any closing costs the seller might not cover. Up front deposit and funds to close must be seasoned in the bank for 2 months. No big cash deposits, closet money, etc.