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Helpful!
You were so helpful throughout that whole process, really going the extra mile to make sure that the mountain of paperwork that went along with our loan got taken care of in time to meet all of our numerous deadlines. Not dropping a single ball while juggling all of that was really impressive, and we couldn’t have asked for a better guide through what was a pretty stressful time. Thank you.
Adam Miller & Susan Stasny--Bolton, VT
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First Time Buyers >Credit Card Common Sense
If you are buying a home for the first time, you need to establish a reasonably good financial foundation before a lender will approve you for a mortgage loan. Lenders look for a good credit rating, sufficient funds to make the initial down payment and pay the closing costs, and a stable employment situation.
People who have just qualified for a mortgage loan are usually in better-than-average financial shape. If you have recently purchased a new house, don't be surprised if you receive numerous offers from retail stores and other credit card companies offering you pre-approved revolving credit.
Be careful about accepting these offers! New home owners often use most of their savings in the process of financing the transaction, and they need everything from linens to furniture to get settled in the home. With all of the immediate credit available, it may be very tempting to just say "charge it." If you're not careful, you could be "up to your ears" in debt very quickly. It takes discipline to reach the goal of home ownership--and it takes that same kind of discipline to maintain financial health after you leave the closing table.
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| Q |
What is a "jumbo mortgage"?
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| A |
The term "jumbo mortgage" currently refers to a mortgage loan in excess of $359,650, although the threshold amount may change as the market fluctuates. |
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The Hergenrother Team
Keller WIlliams Realty Green Mountain Properties
302 Mountain View Dr
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Colchester, VT 05446
Phone: 802-488-3488
Fax: 802-419-3769
Team: Info@WinningResultsVT.com
Sarah: sarah@vermontkw.com
Adam: adam@vermontkw.com
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