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BUYING A HOMEIf you are considering buying or you have made the decision...VFMR WILL ASSIST YOU! |
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Home Loan Mortgage rates APPEAR TO HAVE TOPPED OUT, for now.! Get Pre-Approved! VFMR can help you get to where you need to be... All you have to do is "ASK"! VFMR will help you shop your best deal!
Is this a
good time to buy?
So, how
does this work?
Some REALLY GOOD questions you might consider...
Select
any of the
following
"Rent versus Own... What's best for me?" "Can I qualify for a home loan?" "How do I find the lowest mortgage loan rate? Ask the folks where you bank?" Give them a call. Shop online with Quicken, Rocket or Geico... there are others, so invest a bit of time and research. "If I find a home online (Realtor.com; Zillow.com; etc.), is it a good idea to use "Contact the Agent" (the side-bar on all such page listings)?" "Can VFMR work for me?" "Can I buy my rental home?" "Should I call the Agent on a Yard (For Sale) sign? "Is pre-approval (for a Home Loan) a good thing?" "Are on-line Lenders (Rocket Mortgage; Geico; Quicken Loans) good to use?" "Can I buy my home with no money down?" "I filed Chapter 13 (or 7). Will that be a problem my getting bank financing?"  "Likely not." Vernon Exception: A VA Loan. If you are a veteran and you have your DD214 as well as Eligibility Letter/Worksheet from the VA, you have the best shot at moving in with very little or even no out-of-pocket. If you are not a Veteran, you can always ask about any First-Time programs. Frankly, I know of none. But, things do change. »Back »Email a Question »Exit Google "You will not know until a Lender looks at your entire history. If your file has been closed for multiple years and, you have acquired and maintained good credit which results in FICO over 685, that may well make a difference! Again, you won't know until you ask and seek pre-approval. Do recall, when you made Application for a Lease, you gave VFMR authorization to obtain your Credit Report and FICO score. Your information and history did get you a Lease, correct? Well, that does say something, doesn't it!" Vernon »Back »Email a Question »Exit Google There are good reviews for these online Lenders. Loan Applications appear simple. But, not so sure about obtaining any form of pre-approval... You can ask. Vernon UPDATED: A search with Google reveals many online Mortgage Companies as well as Commercial Banks DO OFFER forms of pre-approval. Use the above hyperlink to Google for your own query. This type of lender typically wants to see an accepted Offer To Purchase. This would be the one time you would likely have to bird-dog your own history. Angie or Vernon will be glad to take a look at what you put together. Neither are or ever have been "Loan Officers", but have seen enough and "been around" to have a pretty good feel for this type of thing. Just call either and ask whatever. Something not listed above? Ask VFMR licensed Real Estate Agents. »Back »Email a Question »Exit Google Pre-Approval is BIG MEDICINE! Any Seller (your Landlord or others) has confidence the Buyer (you, the Tenant or others) can successfully meet agreed terms when the written Offer is backed by a Lender's "green light" of pre-approved for a mortgage loan. A Seller (your Landlord or others) just like you, is not interested in wasting their time on a "lost cause". This isn't to say if you made an offer prior to pre-approval that you would fall short because your Lender said, "Not at this time... maybe in a year or two... ". Without knowing what you can or cannot successfully offer can lead to disappointment. So, take the time to get pre-approved. Below are the items a Lender will likely need to know and you will be providing... It is not difficult, but you should plan on investing some effort and time to find out. Stuff you need to start the process:
 Call...
You will speak with Angie or Vernon, both of whom
are NC licensed Real
Estate Brokers. Your questions will be answered and they will guide you
through the process.
 Select Call or Call (252) 522-2803.... »Back »Email a Question »Exit Google  or, Email... You will receive a REPLY from VFMR's licensed real Estate Brokers. ONLY a licensed Broker can assist you and these folks are VERY GOOD at their profession.  »Back »Email Your Question »Exit Google So, if buying your Rental is not an option, but it's time to start looking! "VFMR refer you to a good BUYER'S Agent?"Do I continue to rent? Or, should I become a HomeOwner? This can be an easy
answer... Or, it can be very detailed and sophisticated analysis.
You can play
with a Rent Vs Buy
Calculator online... No registration or any need to speak
with anyone! One of the easiest to understand and use..There are multiple questions here...
NERDWALLET.COM »Back »Email a Question »Exit Google Who is your "friend" when you are ready to buy?  Agent for Seller
"Friend"? The name/number on the FOR SALE sign or one listed in an online listing ad works for the Seller (NOT you!). This is not to say this person is mean or deceitful. That should not be the case. BUT, this person works for the Seller (Not you!). This agent is responsible to the Seller to get the highest selling price and best terms for it's Client... You are not it's Client! "Sorry Charlie!" Actually, you would want someone who has YOUR interests and goals as primary... a knowledgeable real estate broker who will fully explain the process and all the forms... And, it should be someone who can advise you as to acceptible terms of purchase. It does not happen a lot, but once in a while, a tenant really likes their rental home and asks... "Mr. Foster, do you think the Landlord would be willing to me buy my rental home?" As the saying goes, everything is for sale if everyone can agree (on the terms). What does it cost you to ask this question? Absolutely nothing! Nada... Want to know if you can purchase your rental home? First things first... (You should) Confirm with your bank you can afford a mortgage and your bank will sell you a mortgage? It is an easy process... Questions? You can ask Angie or Vernon. Recommendation: Ask your bank's mortgage department the advisability of your getting a mortgage... Ask "I would like to be pre-approved for a mortgage loan." You need to know your bank (or online Lender) is onboard and "good to go" (subject only to good condition, not over-priced and clear Title)." "Hey, let's be realistic!" Banks/Lenders are in the business of lending money. So, the question would be welcome! After-all, your business is their profit! [Back to the question "...my Landlord be willing~"] "Oookay... I said it was on the rare side, right?" If you can quality for a mortgage loan and your family and you are ready to "take the plunge", VFMR is ready to assist you (our Tenant).  What happens next is fairly simple... CONGRATULATIONS! You have begun
the path to owning your own home!
»Back »Email a Question »Exit Google Oops! What if your Landlord is not interested in selling your rental home to you? Why? Could be poor timing...it might be later than sooner. OR, there is not "light at the end of (this) tunnel". What do you do then? OR, you have enjoyed your rental home, but your preference is to purchase other property (for location, size, upgrading or downgrading, etc...). So, depending upon available inventory of homes for sale, you may be shopping other home listing. If you recall, VFMR offers CUSTOM SEARCH for available rental homes. Well guess what!! This approach also works well for purchasing a new home. Recommendation: 1. Be sure you are (somewhat) pre-approved for a mortgage loan. If you would like, you can speak with Angie or Vernon and receive some insight as to what you can shop. Just call VFMR and we can visit. This is when VFMR will listen to all your goals and qualifications (what your Lender provided as your mortgage limits). This will help Angie or Vernon match you (our Tenant) to the best BUYER'S AGENT. Additionally, VFMR will work with your BUYER'S AGENT to assist him or her in finding what you want... Your own home. 2. Once you have the Buyer's Agent working for you, he or she can do likewise... Find you the sales listing which meet your personal criteria. Caution: Want to waste a lot of time? (Dumb question!!) ...start calling the phone numbers on FOR SALE signs or internet listings (all of them have tabs or sidebars with "CALL ME!"). IMPORTANT! Remember, these (Listing/Seller) Agents are not your friend. They get paid based upon the selling price... So logically speaking, the MORE you pay, the MORE this Realtor© gets paid. So, let VFMR (or Buyer's Agent) weed out the listings which will save you time and YOUR money! |
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 Google PEGMAN Panoramic Virtual Tour for 1111 Whatever ASB Just go to Google Map link, drag the yellow PEGMAN from the lower-right corner of the map and drop the "little yellow guy" onto the street in front of 1111 Whatever Avenue. A GREAT WAY to see the neighborhood before you get the keys and see the inside. »Back »Email a Question »Exit Google |
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VERNON FOSTER MANAGEMENT & RENTALS L.L.C. does business in accordance with FAIR HOUSING LAWS and FAIR CREDIT REPORTING ACTS  
VERNON FOSTER MANAGEMENT & RENTALS L.L.C. LICENSED IN NORTH CAROLINA NORTH CAROLINA REAL ESTATE COMMISSION FIRM LICENSE NO. C23655 VERNON F FOSTER, Broker In Charge LICENSE NO. 90254  . 
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