Advantages of Homeownership
Becoming a homeowner comes with many responsibilities, but also a lot of rewards. Besides the gratification of being a homeowner, you can build equity, or take control of your living environment.
Let our mortgage specialists at Lending Hand Mortgage assist you.
With local representatives in Palm Harbor/Tampa, Jacksonville, Cape Coral, Sandestin (near Pensacola and Panama City) and Bradenton, Florida
Our Florida headquarters is located in the Tampa Bay area.
- A home may provide you with income tax benefits
- Increase of personal wealth when paying off the principal on the mortgage over time and build what is known as equity
- Home values can rise or fall over time
- Renting may provide you with more leftover cash each month if your rent is less than a mortgage payment
- Renters may not be allowed to make any changes to their living space
- Renters often subjected to rent increases over time
- Put your monthly living costs toward property which you will eventually pay off and own
- Living in a home that reflects your personal style
- Makes it easier to relocate
- Renting can allow you to contribute more toward specific savings goals
Organize your Documents
- Copy of Purchase Sales contract or Offer to Purchase and all addenda (signed by buyer and seller)
- Previous 2 years’ tax returns and W-2s
- Previous 2 years’ employment history
- Last 3 consecutive paycheck stubs (5 if paid weekly)
- Name, address, and phone for past 2 years’ residences and landlords.
- Last 2 months’ statements for savings, checking, CD, money market accounts, etc.
- Recent statement on retirement accounts (IRA, 401K, 403-B, Annuity, etc.)
- If applicable, divorce decree
- If applicable, bankruptcy schedules/discharge papers
- If not a US citizen, provide a copy of your green card (front & back). If not a permanent resident provide a copy of your H-1 or L-1 visa.
Don't Forget About Your Closing Checklist
As the buyer and borrower, you will have items on your checklist that are required by your lender, the seller, and even the title company.
The closing checklist covers all the fees to be paid, the information to be provided, and the disclosures to be signed before the title is conveyed to you. Having this checklist ready helps you stay on track as a buyer, and ensures that your closing goes the way you expect.
All parties at the closing should have valid ID.
POLICY OF TITLE INSURANCE
You must pay for title insurance that guarantees the property is free of previous claims or liens.
Before you can close on the property, you need to secure homeowner’s insurance, which insures the property in the case of damage.
You must bring all funds agreed upon, in the form of a cashier’s check or via electronic wire.
Take the time to discuss the items on your checklist with our loan originator. You will have the peace of mind that after the closing settlement and you’ll be able to move into your new home.
Why a Lending Hand Mortgage professional?
Lending Hand Mortgage (NMLS #373538) prides itself on providing unparalleled customer service and earning satisfied clients. Our purpose? Satisfy the mortgage needs of our customers and exceed their expectations.
We work with underwriters and loan processors from the application date until closing to gather necessary documentation and guide the file through the approval process.
Our mortgage loan originator is your main point of contact throughout the entire home loan process.
First and foremost, our loan originators are committed to a height standard of honesty and integrity.