50 White Avenue, Middlebury CT For Sale – Eligible for 100% USDA Financing

This cute 3-bedroom Cape Cod home has lots of natural light to brighten up the open floor layout. It’s ideal for the Millennial Home Buyer.
And it’s Eligible for up to 100% USDA Financing

The USDA Guaranteed Rural Housing Development Loan offers many benefits to qualified First Time Millennial Home Buyers

•  No Down Payment Required! Finance up to 100% of the home’s usda 3appraised value.
• Ability to Finance the Closing Costs into the loan when the appraised value is greater than the negotiated sales price.
• One 30 year fixed rate mortgage at today’s low interest rates.
• Reduced Mortgage Insurance is cheaper than PMI on Conventional and FHA loans
• No limit on Seller Contributions. No Limit on Gift Funds
• No cash contribution is required from buyer

50 White Avenue Middlebury

https://www.realtor.com/realestateandhomes-detail/50-White-Ave_Middlebury_CT_06762_M35441-45498

Reach out to Rick Cignoli @ 860.945.9284 to find out if the USDA Guaranteed Rural Housing Development Loan is the right mortgage option for you and to take advantage of his FREE Jump Start” Mortgage Pre-Approval service

Then call Jay Irvine at Showcase Realty 203.586.9459 to schedule a showing and be ready to make an offer.

Why Every Homebuyer Should Get Pre-Approved

What is the benefit of having a Mortgage Pre-Approval when looking for a new home?

There is a difference between a Mortgage Pre-Qualification and Mortgage Pre-Approval.
A Pre-Qualification is based on the information you verbally give to qualify for a mortgage. It’s an informal snapshot of your creditworthiness just to get an idea of how much you can afford to spend on a home.
A Pre-Approval is a formal commitment by your lender that they will lend you a specified amount of money when you find the right home. To become Pre-Approved you will be asked to submit documentation of your creditworthiness. An underwriter will review and verify these documents to confirm in writing how much you can afford to borrow.
If you are looking to buy a house, a Mortgage Pre-Approval is the smartest way to get you into your dream home.

Knowledge is Key:  A Mortgage Pre-Approval gives you a good idea of how much Millennialshouse you can afford. This amount is based on a formula that compares your income to your total outstanding debts plus the proposed new monthly housing expense ( mortgage payment, taxes insurance and PMI) This will keep you focused on the big picture and help to prevent being disappointed if you fall in love with a house that is too expensive.

Improve Your Negotiating Position:  When a seller is comparing two offers and one of the buyers has Mortgage Pre-Approval, there is a high confidence level that that deal will go through and close sooner. This may help you to win in a competitive bidding situation.

Confidence in Your Offer: Know that the key information in obtaining a mortgage has been reviewed by an underwriter will give you, and the seller, confidence that your offer is bona fide.

Keep Your Spending on Track:  Having detailed information on your interest rate, closing costs, term and down payment will help you stay within in your monthly budget.

Time is Valuable:  Knowing what you can and cannot afford will save time and frustration in the house hunting process. This will also help your find the perfect house in your price range.

Move in Quicker: With Mortgage Pre-Approval, once you have found the right house, all you have to do is get it appraised for final approval. The faster you close, the quicker you can move into your dream home.pre-approval-2

Reach out to Me at 860.945.9284 to discuss the right mortgage option for your family and to take advantage of my FREE Jump Start Mortgage Pre-Approval service and be ready to make an offer on your dream home

Tuesday Tips – Your Monthly Mortgage Payment

tuesday tipsWhen looking at a potential home purchase, don’t forget to factor property taxes into your budget. Be sure to consider homeowner’s insurance and, if necessary, your monthly PMI premium too. All will be included in your monthly mortgage payment obligation.

Purchase or Refinance. Call Me @ 860.945.9284 to discuss the right mortgage option for your family and to take advantage of my FREE “Jump Start” Mortgage Pre-Approval service.

Consider These FAQ Before Purchasing a New Home

How do you know if owning a home is right for you? Buying a home is a big step. Here are some FAQs to consider before purchasing a home.
family financeHow would a buyer know if they are ready to buy a house?
A home is a lifestyle & commitment change, which may include many factors when deciding to purchase a home. Growing a family, relocating, an extended family living together, or low interest rates are all examples that can be the deciding factor when a new buyer is ready to purchase a home. Buying a home is a good investment in your future.
What are some ways to ensure a buyer’s finances are in order before they buy a house?
The first discussion that the agent will have with the buyer is if the buyer is Pre-Approved for a mortgage. They should always be Pre-Approved by a mortgage loanpre-approval 2 officer at a local lender whom they trust. Some of the factors that are taken into consideration to be Pre-Approved are to always maintain a good credit score, income and asset verification and employment status.
It is imperative that the buyer is educated on what they should or shouldn’t do while the mortgage is in the process. Also, the buyer should never over extend themselves with a mortgage payment. A little hand holding goes a long way!
If a buyer has found a house that fits their needs, what can they do to get more information about the neighborhood?
Before a buyer signs on the dotted line they should always educate themselves on the neighborhood. They should visit during the day, night, and weekends, check out local online forums, talk with neighbors, review crime stats, and the amenities that the town offers. Location, location, location is the most important factor when purchasing a home!
How can buyers better prepare themselves for the home buying process?
The home buying process should not be stressful or problematic. It should be a great and happy experience, but unfortunately not every buyer will agree. It is a team effort… the agent, the mortgage officer and the buyer.
cooperationThe agent and the loan officer should never pass any stress onto the buyer. The agent’s responsibility is to find the buyers a home. The agent should be knowledgeable in explaining the following steps to the buyer: contract, home inspection, mortgage commitment, and closing.
The loan officer’s job is to put all the pieces of the puzzle together. He is responsible for educating and guiding the buyer through the complicated mortgage process, He must understand the details of the transaction and the buyer’s needs. He assembles all relevant documents to support the mortgage application and submits them to his underwriter for approval.
The buyer’s job is to keep the agent and loan officer informed and comply immediately with any questions or concerns they may have. When the agent and the loan officer prepares the buyer, their buying experience should be pleasant and happy. The only thing that the buyer should be worried about is packing.
What are some important things that buyers should consider when buying a home?
It is the agent’s responsibility to keep an open dialogue with their buyers and explain to them what will sell and what may not sell in the future. Location is the number one factor when buying a home, try not to purchase a home that has less than 3 bedrooms, don’t purchase near or under a highway. These are some examples buyers should think about when purchasing a home. Don’t be afraid to ask your agent and loan officer the hard questions

Rick Cignoli

Then reach out to Me at 860.945.9284 to discuss the right mortgage option for your family and to take advantage of my FREE Jump Start Mortgage Pre-Approval service and be ready to make an offer on your dream home.

Tuesday Home Buyer Tips

tuesday tips
Mortgage Pre-Qualification ≠ Mortgage Pre-Approval

Mortgage Pre-Qualification is an estimate based on the verbal information you supply your loan officer of how much a lender will be willing to lend you. It is a simple process that provides an informal snapshot of your creditworthiness just to get an idea of how much you can afford to spend on a new home.
Pre-qualification is not binding, and there is no guarantee that you will, in fact, get a loan for that amount

Mortgage Pre-Approval is a formal commitment that can only be issued by an underwriter. It requires formal application and a thorough examination of your financial situation by the underwriter and confirms in writing how big a house you can afford to buy and how much money you can borrow to buy it.
By going through the formal process of obtaining Mortgage Pre-Approval, before you start house hunting, you’ll show sellers that you are qualified and serious about buying their home.pre-approval-2

Reach out to Me to discuss the right mortgage option for your family and to take advantage of my FREE Jump Start Mortgage Pre-Approval service.

https://mortgagemarketdigest.wordpress.com/2018/06/18/mortgage-pre-qualification-vs-pre-approval-they-are-not-the-same/

https://mortgagemarketdigest.wordpress.com/2013/03/12/whats-the-difference-between-mortgage-pre-qualification-and-mortgage-pre-approval/

 

 

 

 

Tuesday Homebuyer Mortgage Tips

TUESDAY TIPS
HOME BUYER MORTGAGE TIPS

tuesday tipsMake a list of the home features you’d like in your new home. Prioritize what you need, what you desire and what you don’t want. Talk to family and friends who own a home nearby and see what features they wish they had. Electric heat, gas or oil, central air. Wall-to-wall carpeting or wood flooring?

Then reach out to Me at 860.945.9284 to discuss the right mortgage option for pre-approval-2your family and to take advantage of my FREE  Jump Start Mortgage Pre-Approval service and be ready to make an offer on your dream home

5 Secrets to Buying a Home

Most tips for buying a home start with figuring out how much you can afford. But what else is there? Are there other tips for buying a home that can make a big impact?
Yes! From my  experiences and those of my real estate colleagues, here are the 5 Top Little-Known Secrets for Buying a Home you’ll love. 
1. Know Your Borders
There have been situations where the previous owners of the property “blurred” the legal property lines, taking a bit more space than was theirs. Rather than discover that you need to move your fence three feet inward or possibly remodel your garage because it extended too far past the property line, get a surveyor to map out the legal property lines. cul-de-sac-1
2. Bigger Isn’t Always Better
It’s the American dream to own a big home. Indeed, we often measure our success by how big or expensive our home is, and it’s only natural to want the nicest house on the block. But consider this: if you plan to re-sell your home, the best house on the block will appreciate less than others. Home values are based not only on the individual home but also on the surrounding homes – essentially placing a cap as to how much houses go for in that area.
3. Don’t Buy Solely on Emotion
Some people make the mistake of falling in love with a home so fast that it fogs their ability to see potential problems. For example, buying a home because it has a custom-built treehouse and playset for the kids but overlooking that it will add 20 minutes to your work commute, could be a problem. Focus on logic and instinct to choose your new home, and don’t rely too much on emotion. 
4. Understand the Neighborhood Nuances
To get a real feel for what it’s like to live in a new neighborhood, you should visit during various times of day and night. For example, all may seem quiet on a Tuesday afternoon, but what you don’t know is that your future neighbor likes to work on his car Saturday afternoons with loud music. Is that okay with you? Just like dating someone before you commit, date your neighborhood before saying yes. 
5. Check With the Town Planning Committee
Is there a brand-new commercial development in the works that will be located across the street from your potential home? Decide if that is something you want to deal with over the next few years, and potentially forever.

Call Me @ 860.945.9284 with all your home purchase questions and concerns and to take advantage of my FREE Mortgage “Jump Start” Pre-Approval with Rate Assurance service. Let’s talk about the right mortgage option for your family.