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One of the first things to look at prior to shopping around for a good mortgage rate is your debt to income ratio. The first thing a lender is going to look at is your ability to handle the potential debt of a home loan, followed by your credit score. If your debt is too high and you income too low you will not be approved for the loan.

Debt to income is a very simple calculation and is derived from the amount you pay out to bills each month versus the amount of your take home salary. Lenders will calculate this ratio in order to determine whether or not you will be financially able to handle the added debt of a mortgage.

Doing the math: It is a simple calculation, add up your monthly expenses (such as your car payments, minimum credit card payments, loan payments etc, note: you don’t include things like groceries or utilities). Add your expenses and payments (your mortgage payments plus, mortgage insurance, home insurance and property taxes) and divide the total by your gross monthly income.

Note: When shopping for a mortgage is that your debt-to-income ratio should be no higher than 36%. Anything above this could mean you’ll be denied credit or charged a higher interest rate on your loan.

Note: You will want to make sure that your total expenses for your household remains under 28 percent of your gross monthly salary. Though there some mortgage lenders that will make an exception based on your credit history and ability to repay the loan, keeping your expenses under will help the application process. Once you have determined the amount you are willing to spend it is time to be pre0approved for a mortgage and star looking for a home with your realtor.

Use the following calculate your debt-to-income ratio: *Minimum monthly credit card payments: + Monthly car loan payments: + Other monthly debt payments: + Expected mortgage payments: *Total = *Your debt-to-income ratio is: *Your total by your monthly gross income =

Now that are ready to start looking at homes or condos in Edmonton contact Darlene Strang Edmonton’s condo expert and number one Real estate agent in Edmonton. Trust experience and your personal Realtor for life.

Comments (0) Nov 30 2009

No matter if you are purchasing your first home, or if you are an active investor and are purchasing your twenty-fifth property, your credit score will play a critical role in obtaining a mortgage loan. By wisely managing your credit and understanding how your credit score affects your borrowing ability, you will be able to make the most out of your investment.

Prior to applying for a home loan, you should get a copy of your credit report and verify that you have an adequate credit score to obtain the loan that you want. Credit scores are represented by a number that is given to you by each of the three major credit reporting agencies. It is based on a proprietary formula they have developed that determines your credit worthiness. The better your credit score, the more likely it is that you will qualify for a mortgage loan.

The three major credit reporting agencies that track your credit score are Experian, Equifax, and Transunion.

Generally, having a higher credit score will result in obtaining a lower interest rate on your loan. Many lending companies will be more willing to work with you if you have a high credit score and they will also be able to lend you a higher amount of money.

The best way to obtain and keep a high credit score is to be timely and responsible when paying your bills. You must avoid having late payments, skipping payments and having large amounts of outstanding debt, particularly with and credit cards and consumer loans.

By understanding how to maintain your credit and how your credit score will affect the type of loan that you will be approved for, you will be one step closer to being able to purchase the home of your dreams.

Of course your credit score is but one of many factors that will determine whether or not you will be approved for a mortgage loan. Lenders will also consider your financial stability, your income, and your employment status.

Weichert Realtors, Brockwell & Portwood, located near Fort Lee, Virginia is dedicated to serving you and helping you achieve the American Dream of owning the own home. We look forward to providing you with information, tools and expert advice to help you purchase or sell the home. We are proud to feature Fort Lee, VA real estateand Petersburg, VA homes for sale.

Comments (0) Nov 01 2009

What are the benefits of work with a real estate agent to buy or sell your home? A devoted and professional realtor will make the multifaceted process of selling or purchasing real estate both straightforward and trouble-free.

Here are some rationale why enlisting a realtor is one of the top investments people can build in the course of buying or selling.

1. If you charge too much your home you might sit on the market for months as lines of people display through your home never completed an offer. If you under price your property, you might never know how much money you didn’t see. Realtors give their client with expert assessments on the worth of any property they are seeking to sell or to purchase. How do you decide upon a fair value on a property you are selling or purchasing? Your real estate agent will gather data from the most new sales of properties alike to yours in your area. Your realtor will analyze the real estate values in those comparable properties and help you determine a price reflecting the current real estate market.

2. Many people either spend too much on the wrong improvements on their homes or neglect to do the simple things that could help them get more for their property. Realtors provide professional advice on how to prepare your property so you will have the great showings. Realtors know exactly how to present a home in the best light. Also, realtors know how to advise you on how to improve the showing of your home to potential buyers.

3. Negotiating the sale of your home can leave you without a sale or with less money than you might have received. Realtors know how to negotiate an acceptable sales price. Buyers and sellers usually have too much at stake to be good negotiators. While representing their clients, realtors remain professionally detached and are able to negotiate satisfactory sales prices in real estate transactions. In addition real estate agents will know which offers are the most bona fide. Accepting an offer from a buyer with shaky credit for example, could tie up you property in a contract while you lose credit worthy or cash buyers.

4. Many home owners forget about the cost of advertising that goes with selling their property. This can run into thousands of dollars. In addition of you are not savvy about how and where to advertise your efforts could be fruitless. Realtors take care of all the marketing of your property for sale. If you are buying property, your realtor will also find all homes available that suit your liking. You can sit back and let your realtor handle everything.

Realtors put your mind at ease and let you relax through the real estate business. In today’s busy world and intense real estate market, the use of a realtor is most always worth the time and money. You have many choices of realtors in your area. Make time to fine a realtor that will work the best for you!

Oliver Wingrove is a real estate investor based in Texas. He is a former estate agent and writes widely about issues related to real estate and finance. His current interests currently span both the US and UK market especially the sell and rent back market and how it applies to the downturn in the real estate market.

Oliver Wingrove is a real estate investor based in Texas. He is a former estate agent and writes widely about issues related to real estate and finance. His current interests currently span both the US and UK market especially sell and rent back back market and how it applies to the downturn in the real estate market.

Comments (0) Oct 26 2009

Over the last 10 years the real estate business has seen big changes through the use of the internet. Starting with text ads and images, Realtors quickly turned to 360 virtual tours and slide shows to increase the value of their listings in directories and on websites. Understand that video has even more impact than all the other promotions combined.

95% of buyers and Realtors use the internet to to find and pre-qualify homes, land and commercial properties. Most websites are still offering a few pictures and some text. But even though a pictures can say more than a thousand words, a video can say more than a thousand pictures.

No business can ignore the power of online videos, not even the real estate business. I think video and real estate is actually a perfect match. Where else can you combine a presentation of a property, an introduction to a Realtor or his business or pre-sell any other real estate related service.

Creating videos on the internet has become an easy process. Most real estate marketers still rely only on services like YouTube to present their online videos, even though there are a lot more websites offering free hosting and syndication of video content for free. If you rather stick to selling houses, then you can also use a company like TopSeekInc.com to syndicate your videos.

Editing videos is actually not a rocket science anymore either. Simple drag and drop functionality of programs like Mac’s iMovie or Microsoft’s Movie Maker can create high quality videos. And it will only take a very short time to learn these products. Don’t forget to include your phone number and domain name in the video, so people know how to contact you. If you need a camera, I would start with a simple HD camera like the Flip.

I always say that if you don’t do online videos, your competitors will do and so you will always lag behind. There is still a window of opportunity for video contents, especially in the local markets, so if you spent your last 5 years solely on paid advertising, you will probably need the extra traffic from online videos.

See how TopSeekInc.com provides content for real estate companies in the following two sample videos The Woodlands Tx Homes for Sale and The Woodlands Texas Homes for Sale

categories: real estate videos, realtor videos, virtual tours, realtor

Comments (0) Oct 19 2009