How To Start The Home Buying Process As A First Time Homebuyer

FIRST TIME HOMEBUYER? WHERE DO YOU START THE PROCESS?

SQUARE ONE-CLEAN UP YOUR CREDIT- Unless you are holding a winning Powerball ticket, are sitting on a substantial nest egg or are being financed by a wealthy relative, you will need a loan to afford your first house. Mortgage Companies and Banks use credit scores, also known as FICO scores, to evaluate the potential risk of lending to individuals. The higher the number, which runs from 300 points to 850 points, the better your credit score.

Knowing your score well in advance will give you time to clean up any mistakes, like tax liens that were paid off many years ago or parking tickets that you paid but that are still showing up on your credit report.

Sometimes it takes months to clear your credit up, and by then the seller has sold your dream home to another buyer and you are back to square one.

Knowing your score will also give you time to boost your number if need be. The three major credit-reporting bureaus generate their own FICO scores based on the data they collect.

To find out where you stand, contact a reputable credit firm like Phoenix Credit Consultants, (314) 429-2040 or www.123PCC.com. Even if your credit score is high enough to qualify for an entry level loan (like an FHA loan) you may have time and the opportunity to strengthen your score to a point where more favorable loan products might become available to you. A company like Phoenix can help you raise your score as quickly and as effectively as possible.

SQUARE TWO-GET PREAPPROVED- Not to be confused with a prequalification, which is essentially a “rough” calculation of how much of a loan you might qualify for, a preapproval is a written estimate from the lender stating how much you will likely be able to borrow based on an initial review of your credit and financial information. The application often requires submitting pay stubs, bank statements, tax returns and other financial documents. Most lenders charge nothing for the application, since they are hoping to win your business, but some charge you (usually less than $100.00) to cover the cost of a credit check.

Why not wait until you’ve actually found a place to get a preapproval letter for a mortgage? 

  1.  Because it will help you determine how much you can afford.
  2. It will provide you with significant leverage when you are ready to make an offer on a home. It provides assurance to the seller that you will be able to secure financing and makes your offer significantly more attractive to an offer that is contingent upon financing being obtained.

Preapproval letters typically expire between 90 and 120 days, but can be quickly updated with a phone call to the lender.

SQUARE THREE-ASSEMBLE YOUR TEAM- In addition to a credit consultant and loan officer, you will need to add a real estate agent to your team.

Look for a real estate agent that has an established track record working with buyers in your situation, and who will get back to you promptly.

Look for an agent that is experienced, one who frequently works with entry-level buyers. You want to feel like you’re working with someone who has done this time and time again, not someone who is learning the process as you do.

You want an agent who can help you come up with a sound offer based on market analysis and who will put together a well-rounded application package on your behalf. 

Your agent’s commission, typically 5 or 6 percent split with the seller’s agent, will ultimately come out of the sale proceeds. 

SQUARE FOUR-HIT THE STREETS!- With your credit restored, your preapproval letter in hand and your realtor by your side, it’s time to hit the streets!

Looking to hop in your car and drive from prospective dream home to prospective dream home this spring or summer?

Then now is the time to get started at square one. Contact the credit experts at Phoenix Credit Consultants today (314) 954-7429 or www.123PCC.com. We can help you obtain your credit report and a reliable mortgage (FICO) credit score.

Ask the experts at Phoenix about their unique, “Goal Oriented” credit restoration process. (GOPHOENIX!) That process is designed to get your credit score where you want it to be as quickly as possible and gives you control over how long that process takes.

Million Dollar Monday

Nothing excites us more than when we send one of our clients off to their mortgage loan officer “mortgage ready” with their credit restored. Our 2016 got off to an amazing start when a group of our restored clients closed on new home loans last week which collectively had a value of in excess of a million dollars!

 When this happens we have a tradition of celebrating the next Monday as a “Million Dollar Monday.”
Call us today at 877-235-6150 to find out how you can join the Million Dollar Monday Club!! You can also email us at info @ 123pcc.com!

You Are Awesome!

Wow! Thank you so much for all of your help. I never thought I would be at this point so quickly! You do a great job and I have already been talking you up to friends and family! So thank you for all of your hard work and helping me get to this point. You are awesome!

Jacob B.

Your New Year’s Resolution

Keys to achieving your New Year’s Resolution

1. Make Only One Resolution – Research shows, your chances of success are greater when you channel your energy into changing just one aspect of your life. What better part of your life is there to improve than your credit?  Better credit brings opportunity to your life. The opportunity to buy a new home, a new car, acquiring credit cards with better interest rates, better insurance premiums, a new job; better credit in 2016 will help you convert these opportunities into reality.

2. Avoid the same old approach to the same old resolution – Have you “resolved” to improve your credit on your own in the past, but didn’t reach your goal? Taking the same approach to a past resolution can set you up for frustration and disappointment.  This year, approach your resolution in a new way; enlist the help of the credit restoration experts at Phoenix Credit Consultants.
3. Set a specific goal  – Phoenix Credit Consultants is unique in their approach to credit restoration in that each and every one of our clients is given a credit repair “Goal.” Most often this takes the form of a specific credit score needed to obtain a new home mortgage. Vague plans (like, “I’m going to make my credit better!”) usually don’t work. Let Phoenix Credit Consultants help you set your credit goal and guide you towards that goal as quickly as possible.
4. Make it personal – When you enlist Phoenix’s help, you will be assigned your own personal credit restoration expert. You will know their name and they will know you. You will be able to pick up the phone and call them whenever you have a question about your credit. Our service is personal and our experts will hold you accountable. Accountability is a crucial aspect of succeeding in restoring your credit.
 
Ready to get started on the road to credit restoration?  Forget about that fitness club membership. Do you have any idea how crowded those places are going to be for the next month or two? Instead, call Phoenix. We are resolved to help you achieve your financial goals, not only for 2016 but for life.

Trivia Night To Benefit Carl Roy and Family

It doesn’t get much better than a night of fun, friends, and trivia in South City, St. Louis! There’s a great event coming up and we’re so excited to be a part of it.

Join us on Saturday, February 13th, 2016 for trivia and a silent auction to benefit Carl Roy and his wonderful family. Carl, a St. Louis City firefighter and veteran, is fighting central nervous system vasculitis and we’re lining up to fight with him.

Doors open at 6pm CST and trivia starts promptly at 7pm CST. There will be a cash bar.

Location:

Four Seas Banquet Hall (1910 Serbian Drive, St. Louis, MO 63104)

You can reserve a table for 8 people for $250.

If you can’t attend, but would still like to donate, please click here for further information:

https://www.eventbrite.com/e/trivia-night-to-benefit-carl-roy-family-tickets-20230108800?aff=es2

 

We’re hiring!!

Can you sell? Are you interested in learning how to sell? Do you want to help people reach their full financial potential? Do you want to be a part of an awesome and growing company?

You’ve come to the right place!

Our corporate culture is young and progressive. We allow our staff to  create their own opportunities and we encourage self-growth. We feel strongly about encouraging our staff to set goals and come up with creative sales opportunities.

We are currently hiring for multiple positions. We have sales and processing positions open in multiple states. Please send your resume to jobs@123pcc.com. We prefer Word or PDF.

We would LOVE to hear from you and we want to grow our PCC family.

 

 

 

 

 

 

Giving Tuesday Discount!

We made it through Black Friday and Cyber Monday and now it’s time to give back!! For ONE DAY ONLY, PCC will be offering a 15% discount on all services. Sign up must be completed on December 1st, 2015.