Tips for newlyweds looking to purchase a home

Tips-for-newlyweds-looking-to-purchase-a-home_1136_471471_0_14059511_500 Did you just tie the knot with your loved one? Hoping to buy a house and start your family? Homeownership can greatly benefit you, as well as your growing family, by providing a sense of stability and began building equity for your future.

As housing markets from Florida to Maine continue to see positive figures recorded regularly, multiple opportunities to purchase residential property may be afforded to you.

At Poli Mortgage Group, we understand the significance of owning your own home, as well as all of the associated pleasures. In our 12 years of operation, our teams of Loan Officers have written more than $11 billion in loans, and as the 2013 wedding season gains momentum with each passing day, we expect to welcome many new clients to our lending family.

If you and your new significant other are looking to buy a house in the coming months, you may want to take a proactive approach to completing a home purchase, and can benefit by employing the following strategies:

Establish, enhance credit history
You would think twice before lending money to a friend who is notorious for not repaying debts, wouldn’t you? This is the same reason that improving your credit rating can help you to successfully navigate a home sale and obtain funds form a lender for the purchase.

Lenders want to see clear evidence that you’ll be able to repay a loan on time and in full. If you find any mistakes in your history report, contacting your creditor immediately and working towards correcting them can help raise your score significantly.

In addition, paying your monthly bills on time and keeping the outstanding debt to less than 35 percent of the total credit available, will have a positive long-term impact on your overall score.

Consider financing options
Though you and your partner may be more excited about starting your lives together, it is recommended prospective buyers first pursue preapproval before beginning to shop around for houses. This is also a good time to contact Poli Mortgage Group to get the current information about interest rates.

Gaining a firm understanding of your financial situation can substantially facilitate your search for housing.

Focus your house hunt
Once you have determined your buying power, you can begin viewing available properties that meet your criteria and your financial limits. Considering houses that are out of your price range can be both a waste of your time and incredibly disheartening – so don’t do it. Ever.

Licensed to lend in 18 states across the Eastern Seaboard, Poli Mortgage Group is always there to help. If you and your spouse have additional questions about obtaining an affordable loan and buying a home, don’t hesitate to call us at (866) 353-7654.

Poli Mortgage Group is a Division of radius financial group inc. Corporate NMLS #1846. radius financial group inc. is an Equal Housing Lender. Poli Mortgage Group is licensed in CT, DC, FL, ME, MD, MA, NH, PA and RI. For more licensing information please visit: https://polimortgage.com/licenses/ or by visiting www.nmlsconsumeraccess.org. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. Programs rates, terms and conditions are subject to change and are subject to borrower qualification. This is not a commitment to lend. The content in this website has not been approved, reviewed, sponsored or endorsed by any department or government agency.

* This radius Pre-Approval/Credit Commitment Promise Contract ("Promise") is made and entered into, as of the date of the last signature below, by and between radius financial group inc. ("radius" or "Lender"), and the below-named Buyer and Seller. In consideration of Seller's reliance on this Promise in entering into a real estate purchase transaction with Buyer, the Parties agree as follows:

PROMISE TO SELLER. In the event that a Seller is induced to accept an offer from, and enter into a purchase and sale agreement with, a radius borrower on account of this Promise in connection either with (a) a radius Pre-Approval or (b) a radius Credit Commitment and the Buyer is unable to close on such Eligible Transaction due to a mistake made by radius (with accurate and up-to-date information) on such Pre-Approval/Credit Commitment (a "Bad Pre-Approval"), then radius shall pay Seller ten thousand dollars ($10,000), subject to the terms and conditions herein as Seller's sole remedy.

PROMISE TO BUYER. In the event that radius issues a Bad Pre-Approval to Buyer on an Eligible Transaction, radius will reimburse Buyer reliance expenses up to one thousand dollars ($1,000) for a home inspection, appraisal, or legal expenses actually paid out-of-pocket by Buyer, subject to the terms and conditions herein. This payment shall be Buyer's sole remedy.

ELIGIBLE TRANSACTION. For purposes of this Promise, an "Eligible Transaction" is a purchase money mortgage transaction for a primary residence (made on or after April 1, 2018) (not made to a radius employee or immediate family member), provided that the loan is a Conventional, USDA, VA, or FHA loan product for either (i) an existing home resale or (ii) a newly constructed home that is to be delivered and closed within ninety (90) days of the P&S.

CONDITIONS. The applicable radius Pre-Approval must not have expired prior to the date of the P&S. Offers/P&Ss cancelled due to home inspection issues or title defects are not covered under this Promise, and this Promise is void if a Bad PreApproval is the result of: (i) a change in Buyer's financial position, (ii) property specific requirements or expenses (e.g. homeowner's association dues/fees, flood insurance, or property taxes), or (iii) loan product availability or underwriting requirements, or third-party actions outside of radius' control.

FUNDS DISBURSEMENT. Any funds due and payable under this Promise will be paid if requested by Buyer or Seller in writing within 90 days of the date of an applicable Adverse Action Notice and accompanied by a fully-executed copy of this Promise. Any payments made under this Promise will be reported to the Internal Revenue Service by radius on a Form 1099-MISC or as otherwise required by then-applicable law. Please consult your tax advisor for any tax implications.

Tips for newlyweds looking to purchase a home

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