SANDRA GRAHAM MISTLETOE REALTY
REDDING'S One Stop Home Buyer's Shop
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FAQ  BUYERS
 
Q: How long does it take to get a loan?
A: The loan process can take as little as 14 days or as long as 45 days depending on many variables.  The main thing is the type of loan, how long it takes you to supply the lender with the documentation required and the purchase contract time frame.
Q: How do I find out how much I qualify for on my home loan?
A: The lender is a very important part of the home buying process.  First, talk with 2-3 lenders, (It is best if you can get a friend, family member and/or professionals you trust to give you referrals of lenders with whom they had a good experience) then choose one and stay with that lender. The lender can give you the amount you qualify for over the phone, but that preliminary number will have to be followed up with supporting documentation. Be as accurate as is possible in the phone interview,  then supply them with supporting documentation of everything they need as quickly as you can.
Q: Is my credit score very important?
A: Yes. The higher your credit score is the lower your interest rate will be, the more home you will be able to qualify for, for less money.
If you have poor credit due to 30, 60, 90 day late payments, liens and/or  judgments, all of which bring your credit score down, you will have difficulty in qualifying for a loan, especially in today's climate in the lending industry.  You will do yourself a world of good to make sure you are on time with all your monthly payments and to make sure you take care of judgments and liens. 
Should you have a poor credit score right now there are many ways to clean up your credit without going to a credit cleaning company.  If you want or need assistance, contact Sandra Graham. She will assist you, free of charge.
Q: How much are the Realtor fees?
A: There are no Realtor fees for Buyers, unless otherwise agreed to in writing.
Q: Are any inspections require by law?
A: No. There are some inspections that are required by the lender.  They may require a termite inspection and clearance. Depending on the Appraiser's report, a roof inspection and certification may be required.  Any other inspections are at the Buyer's choice and, generally, the Buyer's expense.
Q: How much are the Title and Escrow fees?