Buy
First Time BuyersBUYING A HOME IS REWARDING, BUT THE PROCESS CAN BE CHALLENGING. A MEL FOSTER CO. SALES EXPERT CAN GUIDE YOU EVERY STEP OF THE WAY AND HELP YOU MAKE INFORMED DECISIONS. MANY AGENTS ARE EXPERIENCED IN NEW CONSTRUCTION, AND MEL FOSTER CO. IS THE LARGEST LAND DEVELOPER IN THE REGION REPRESENTING OVER 45 SUBDIVISIONS. |
How to Pay for a HomeA MEL FOSTER CO. REAL ESTATE EXPERT WILL SHOW YOU VARIOUS FINANCING OPTIONS AND WILL INCLUDE THE IMPACT OF EACH OPTION ON THE SALE OF YOUR CURRENT HOME. DEPENDING ON THE PRICE OF THE HOME AND/OR THE AMOUNT OF YOUR DOWN PAYMENT, THERE MAY BE SEVERAL OPTIONS THAT FIT YOUR PERSONAL SITUATION. |
Property Search
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Open Houses
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Relocation
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Military on the Move
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Loan TypesVA (FOR MILITARY VETERANS ONLY) FHA (FEDERAL HOUSING ADMINISTRATION) CONVENTIONAL (FIXED RATE OVER A SET NUMBER OF YEARS) OTHER OPTIONS INCLUDE OWNER FINANCE FIRST TIME HOME BUYER PROGRAMS LOAN ASSUMPTIONS LEASE PURCHASE |
How does an Agent help?WALK YOU THROUGH THE PRE-APPROVAL PROCESS. DETERMINE HOW MUCH HOUSE YOU CAN AFFORD DETERMINE WITH YOU, WHAT YOU NEED IN YOUR NEW HOME VERSUS WHAT YOU WANT. FIND AND SHOW YOU HOMES THAT MEET YOUR SEARCH CRITERIA. HELP YOU NEGOTIATE WITH THE SELLER'S AGENT AND WRITE YOUR OFFER. PROVIDE AN ACCURATE ESTIMATE OF YOUR EXPENSES INCLUDING CLOSING COSTS AND INSPECTIONS. PREFORM AS YOUR ADVOCATE TO PROTECT YOU DURING FINANCING, NEGOTIATIONS, INSPECTIONS, CONTINGENCIES AND POSSESSION. |
Meeting with you Lender
GATHER ALL OF YOUR PAPERWORK AND BE PREPARED FOR YOUR APPOINTMENT.
THE FOLLOWING ITEMS MAY BE REQUESTED BY YOUR LENDER.
THE FOLLOWING ITEMS MAY BE REQUESTED BY YOUR LENDER.
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TAX RETURNS FROM THE LAST TWO YEARS ALL W-2 TAX FORMS FROM THE LAST TWO YEARS ALL ACCOUNT STATEMENTS, SUCH AS CREDIT CARD, CHECKING AND SAVING ACCOUNTS THREE MOST RECENT PAY STUBS |
A LETTER OF PROMOTION NOTICE, IF THIS APPLIES TO YOUR JOB SITUATION CD'S 401K, 457 AND ALL OTHER RETIREMENT ACCOUNT STATEMENTS IDENTIFICATION, SUCH AS DRIVERS LICENSE |
YOUR LENDER MAY ALSO ASK YOU THESE QUESTIONS DURING YOUR MEETING
HOW MUCH OF YOUR SAVINGS WILL GO TOWARDS YOUR DOWN PAYMENT AND CLOSING COSTS, IF ANY?
WHERE HAVE YOU WORKED IN THE LAST TWO YEARS?
WHAT ARE YOUR MONTHLY LONG-TERM DEBT PAYMENTS INCLUDING STUDENT OR OTHER LOANS AND CAR PAYMENTS?
DO YOU HAVE CHILD CARE EXPENSES OR PAY ALIMONY?
HAVE YOU EVER DECLARED BANKRUPTCY?
HOW MUCH OF YOUR SAVINGS WILL GO TOWARDS YOUR DOWN PAYMENT AND CLOSING COSTS, IF ANY?
WHERE HAVE YOU WORKED IN THE LAST TWO YEARS?
WHAT ARE YOUR MONTHLY LONG-TERM DEBT PAYMENTS INCLUDING STUDENT OR OTHER LOANS AND CAR PAYMENTS?
DO YOU HAVE CHILD CARE EXPENSES OR PAY ALIMONY?
HAVE YOU EVER DECLARED BANKRUPTCY?
Mel foster Co. Inc. - Licensed in Iowa & Illinois. Corporate Offices Located in Davenport, Iowa and Moline, Illinois.
Equal Housing Opportunity
Equal Housing Opportunity
