Prepare To Refinance Your Owner Financed Home In Austin Texas

Qualifying for a home loan is the most common impediment to buying a house

, which is why we offer the easy and fast Owner Financed home buying solution. Although, there comes a time when you will need to qualify through a bank to refinance your Owner Financed home. The Owner Finance specialists at Forte Properties help you with rebuilding your credit and will also give you the tools needed to do so. It is never too early to start! Here are some things you can do to prepare and give yourself the best chance of being able to refinance when the time comes.

1. Check your credit history. There are many sites you can go to and obtain your credit reports from all 3 credit bureaus such as FreeCreditReport.com. Look it over and see if there are any errors or out-of-date negative entries. If so, file a dispute form and get them removed before applying for a home loan. Are there any charge-offs or past-due accounts? If so, contact the lenders and try to make a deal to have those entries brought current or removed entirely. Again, do this before applying for a home loan.

2. Do you have several credit card accounts that are open? Close all but one account and wait for the closures to be reflected on your credit history. Only then should you apply for your home loan! Too much outstanding credit (or the potential to create it i.e. open accounts with $0 balances) is a huge red flag for mortgage lenders.Try to save up a down-payment of at least 20% of the amount you intend to borrow. The more you have available for the down-payment, the easier it will be to qualify for a home loan and get the most favorable terms.

3. Be realistic when predicting the size of the home loan that you'll qualify for taking into consideration your income, credit status, and the amount of your down-payment. If you try to buy "too much" house, you'll likely end up being disappointed.

Conclusion: Preparing yourself to be able to refinance your Owner Financed home doesn't have to be an impossible task. With a little preparation and patience, it will happen!

by: Forte Properties Austin, TX

POST COMMENT

Cash For Scrap Copper Dreaming Of A Memorable St Lucia Business Trip? Here's How To Get The Hottest Deals St Lucia Suites Same Day Loans: Enjoy Same Day Cash Facility Check advance-Get cash through check Making Waiting Pleasurable And Memorable For Your Business Visitors Promote With a Square Business Card 5 Tips To Consolidate Student Loans And Get More Disposable Cash Acting Is A Business- Most Powerful Tool Ever Cash Till Payday- Pay All Bills Even Before Your Payday Current Trends For Bricks And Mortar Businesses How To Find A Legitimate Work From Home Business Businesses Expand To Include Website In Their Product Mix With No Technical Experience Looking For Texas Inexpensive Trips? Use These Secrets On How To Book Top-notch Excursion Bundles