Buyer Tips from a Top Huntsville Lender

    Today, I’m proud to introduce one of my preferred lenders, Teresa Hagood from First Bank. Teresa will discuss tips on how to ensure a smooth loan application process and closing. Just getting a pre-approval doesn’t give you a green light for the closing table. There are a few things the purchaser can do to ensure the mortgage process is complete and can close as quickly as possible.

    Once your offer is accepted, what’s the next step to ensure the buyer is 100% approved?

    You need to get in touch with your lender. So many clients wait a week before they even start the process. The clock is ticking the moment the offer is accepted. Even waiting a day to get in touch with your lender can significantly delay the closing process. To make sure you close on time, reach out to your lender right away.

    What’s the best process for getting your paperwork to the lender?

    The mortgage process has gotten a bit more tedious with paperwork, and first-time home buyers in particular can be overwhelmed by the process. You might not have even heard of some of the documents your lender requests. Be patient with the lender and turn in your documentation as soon as you can.  At First Bank, there’s a saying: “We cannot care for your loan more than you do.” The buyer needs to take initiative, and then the lender can get them closed on time.

    Also, First Bank provides a list of the paperwork that you will need at your initial meeting. Gather up everything right away so you’re not scrambling later on.

    What if you’re buying and selling a home at the same time?

    If you’re packing up your old house, don’t pack your documentation. Leave the last two years of tax information handy, as your lender will need to look at them. Get a manila envelope or accordion file to keep all your paperwork in one place.

    How can buyers win in multiple offer situations?

    Get pre-approved. A pre-qualification is not enough. If you want to get pre-qualified, you simply call a lender and tell them how much money you make. To get pre-approved, your lender will need to look at pay stubs, W2s, and bank statements. They also verify if you work 40 hours a week, or if you have any overtime that needs to be taken into consideration.  With a pre-approval, you have a better chance of winning a bidding war.

    At Amanda Howard real estate, we want to make sure the buying process is as smooth as possible. Contact Teresa Hagood at First Bank to start the pre-approval process. At the very least, make sure you are using a local lender. If you have any questions, give us a call or send us an email. We would be happy to help you!




    imageThis Week’s Closings, Congratulations!

    • Mr. Mike Poppin
    • Ms. Angelica Yeager
    • Mr. David E. DunsonMr. Michael Layfield
    • Mr. Michael Cornelison
    • Mr. Trey Vice
    • Mr. and Mrs. Philip Clemmons
    • Mr. John M. Lonczynski
    • Ms. Deborah Tucker
    • Ms. Ashley K. Perry
    • Ms. Melanie Bell
    • Mr. and Mrs. Ronald Ray
    • Mr. and Mrs. Robert Fox
    • Foundation Investment Properties
    • Mr. and Mrs. Brian Elmore
    • Ms. Porshia Lockhart

    New Listings For Sale:

    1 Fieldstone Drive $34,000

    2044 Woodlawn Drive $89,900

    2613 Pioneer Road $119,000

    6319 Deramus Avenue $131,900

    109 Jay Drive $132,500

    868 Upper Hurricane Road  $140,000

    611 SE Springwood Circle  $144,900

    155 Marysa Drive  $145,000

    27070 Randall Circle $169,900

    5008 Montauk Trail  $184,500

    146 Harbor Road $185,000

    7909 Gabriella Drive $185,000

    25092 Hays Mill Road $187,900

    108 Coach Glen Lane $189,900

    7111 Mossy Bank Trail  $199,900

    8304 Anslee Way $214,900

    166 Hartside Road $231,900

    107 Memory Lane $244,900

    151 Canterbury Drive $250,000

    9188 Snake Road $250,000

    52 Fawn Ridge Drive  $250,000

    203 North Mossy Creek Circle $259,000

    202 Alder Branch Court $269,900

    333 Stoneham Way $300,000

    18285 Yarbrough Road $305,000

    1 Fielstone Drive $319,000

    120 Whippoorwill Drive $358,500

    760 Charlie Patterson $ 499,000


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