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Traditional Bank Loan Programs
IF APPLYING FOR BANK FINANCING, here are some BUYER DON'Ts:
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Do NOT make any large purchases! Even if you think you can afford it, the Bank may not think you can. Buy your new car or couch or TV AFTER the house has closed!
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Do NOT acquire any new debt! Even if there is no payments until some future date. Don't do anything that requires financing until AFTER the house has closed! If you do this, you may throw your debt-to-income ratio off and disqualify you for the loan.
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Do NOT make any large withdrawals from your checking or savings accounts OR transfer large sums of money from one account to another! This looks suspicious to the Bank and may delay your loan process! The Banks like to see money sitting in the banks accounts for certain periods of time to show SEASONING!
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Do NOT apply for anything that requires your credit to be run! A credit check will drop your score by a couple of points and may disqualify you from the loan.
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Do NOT change jobs, quit or get fired until AFTER the house has closed! This will definitely disqualify you from the loan!
Lease Option Programs
Many of our investors provide buyers with the opportunity to purchase homes using Lease Option programs.
These programs are not based on the buyer's credit and usually have low down payments. The investors understand that many buyers have been afflicted by the national mortgage crisis and realize that many buyers will not qualify for traditional lender mortgage products. Any investor providing this service is doing so on his own behalf and qualifying criteria may vary from investor to investor and property to property. Any property listed by Affinity Realty Group, LLC that has such a program, the property details of the listing will indicate whether a lease option program is available. An application will be available for download as .pdf and when received, the application will be forwarded directly to the investor for approval or disapproval. Affinity Realty Group does not have any influence as to which applications are being accepted or declined nor the terms the investor sets for each property.
Seller Financing Programs
Many of our investors provide buyers with the opportunity to purchase homes using Seller Financing.
These programs are may be based on the buyer's credit and usually have down payments of varying percentages and interest rates. Any investor providing this service is doing so on his own behalf and qualifying criteria and terms may vary from investor to investor and property to property. Any property listed by Affinity Realty Group, LLC that has such a program, the property details of the listing will indicate whether a seller financing is available. An application will be available for download as .pdf and when received, the application will be forwarded directly to the investor for approval or disapproval. Affinity Realty Group does not have any influence as to which applications are being accepted or declined nor the terms the investor sets for each property.
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Properties