But what?
Okay, what are some things lenders look for when they're checking to see if you qualify for a home loan?
Your credit score. What are some things that affect your credit score? Well, whenever you apply for and receive a new credit card, it affects your credit rating negatively. And, when you cancel a credit card, it affects your credit rating negatively. Why? Because it means someone is checking on your credit rating. Even if it's you checking, it affects your credit rating. Interesting, and frustrating, but that's what I understand to be true. Please correct me if it's otherwise. I'd like to hear some good news on credit ratings.
What else do lenders look for?
Employment, or lack of employment. What if you're a very industrious person who enjoys working hard for a living wage, but your job is seasonal? Does that affect whether or not you qualify for a loan? What if you don't start until January, but the home you want to buy is on the market, and you're ready to buy it? Do you already own a home? Well, check with your current lender, if they're doing a good job for you, and ask if you can get a loan through them, contingent on, or based on, the sale of the home you're living in.
Well, those are just a couple of things lenders look at. Finding the right lender is the first step in getting your home loan. I met a new lender from Eastern Washington today. He takes pride in doing things with integrity and really helping you, not just making a buck. He said that if your current loan rate is at 7% or 8%, you should take a look at refinancing because it's quite possible that your loan could be at least a percentage point or two less with rates being so low now. That is not always going to be the case. But it doesn't hurt to check and see if a refinance is the way you want to go at this point in your loan. I'm no loan expert, but when a loan expert gives me good financial advice, I'll pass it along to you.
Here are the current properties I have available for you:
1. 20 acres of land in Othello on Hays Road, 6.5 miles down WA-26 from Highway 17 for $100,000. Bring your offer!
2. A five-bedroom, 2 bath, country home with 2.2 acres just 6 minutes outside Moses Lake on Rd 2 (follow the directional sign from highway 17), 2,968 square feet and two wood stoves and spacious bedrooms. Currently is being painted throughout the interior. Call for an appointment. Seller is motivated, so bring your offers. Listed price is $220,000.
3. A beautiful, immaculate, private, double-wide on an acre on the waterfront with three bedrooms and two bathrooms, a very large shop/office/library with a half bath inside it, and with a single-car garage attached to the side. Oh, the deck is huge, and the view of the water and sky is quite a panoramic picture. I took an extra 25 photos today when it was on Broker's Tuesday Tour. Be on the lookout for a Public Open House for this home at 5108 Shorecrest in Moses Lake. It's fully fenced with a locked, gated entry. Listed price: $439,000.
4. Five acres of vacant land on Neppel Road for $75,000. The seller bought it several years ago and was going to retire in Moses Lake, but changed his mind. Ready to sell. Bring your offers on this one too. This is close to the price range that other five-acre lots have sold for in the McConihe area. To get to this one from Moses Lake, go past Big Bend College and turn left on Neppel. Go 1 1/2 miles until you get to the first mobile home on your right. The five acres for sale is the lot right after it, where my real estate sign is located. Grab a flyer or two and give one to your friends. Bring us an offer!
I hope you're doing well during this holiday season. I always get excited when Christmas comes around and we think about the birth of Christ. We have a lot of hope to share! Get out there and say, "Merry Christmas" to everyone you meet and brighten their day!
Merry Christmas from my family to yours!
Connie Suehiro, Agent
Gary Mann Real Estate
305 E. Third
Moses Lake, WA 98837
(509) 431-5804 cell
(509) 765-3463 office
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