American Security Mortgage

Courting The Owner – Make your offer sizzle with this tip!

April 17, 2013 by · Leave a Comment 

Just as temperatures are starting to rise, so are multiple offers on the most attractive properties in many markets.  To stand out from the pack, consider penning a love letter to the seller telling them what you adore about the house and why you are the best suitor to end up with it.

 

Courting the owner

In this digital age, there’s something nice about getting a personal letter written, even if it comes from someone you are doing business with.

 

What to include in the letter

  • Specific features or things that you like about the house and the community.
  • How long you’ve been looking.
  • A little bit about yourselves, including names and ages of any kids.
  • Anything that speaks to your purchasing power or creditworthiness.
  • A commitment to the house and a willingness to do “whatever it takes” to land it.
  • Anything else you and the seller have in common.
  • A picture of yourselves. 

 

Keep it short and sweet and don’t give so many compliments that the sellers think they’ve underpriced the home.

 

Make your offer even stronger by pairing it with a pre-approval letter from American Security Mortgage.  We close quickly!

When Applying For A Loan, Put Yourself In The Lender’s Shoes

April 10, 2013 by · Leave a Comment 

When Applying
North American Precis SyndicateNCCOAST

(NAPSI)—If someone you didn’t know asked to borrow money from you, what would you need to know before you took the risk of making the loan? Most likely, you would want to know that this person had borrowed money before and had a good track record of repaying it.

Banks and other lenders are no different. They decide whether to loan you money based in part on the history they see on your credit report. They use this information to determine how much of a risk you are—the lower your credit risk, the lower the interest rate they charge you.

So what do lenders look for when they size you up?

1. Your payment track record. Whether you’re applying for a credit card, cell phone service or new utilities hookup, creditors want to see that you have a history of making regular, on-time payments. A single missed payment can lower your score. Bankruptcies, collections, judgments, defaults, liens, foreclosures or repossessions may result in a decline.

2. Your current debts. The less you owe, the better. What you spend each month on credit payments shouldn’t be more than 40 percent of your total after-tax income. This is known as your debt-to-income ratio.

3. Your credit history. Naturally, lenders want to see that you have a long, consistent track record of repaying what you owe.

4. New accounts. Lenders also want to see how much new debt you’re taking on. So it’s important to remember that each application you submit—regardless of whether you’re approved—will show up on your credit report and potentially lower your score.

5. Types of credit. Creditors want to see that you’ve had experience using different types of credit. They look more favorably, however, on some types of credit than others:

a. A mortgage looks good as long as you’ve kept up your payments.

b. Vehicle loans and bank loans can show a history of repaying a significant amount of money consistently over time.

c. Credit cards can be a plus, as long as you’ve made regular payments and don’t apply for multiple new cards in a short period of time. Avoid using more than 35 percent of your total available credit.

When is the last time you checked your credit report?

It’s important to keep tabs on your credit report so you can:

• Know what lenders will see when you apply for credit

• Be sure the information is correct—and if it’s not, take steps to get it corrected

• See where you may have opportunities to improve your score.

By law, you can request a free credit report once every 12 months from each of the nation-wide consumer credit-reporting companies: Equifax, Experian and TransUnion.

You can order all three reports online at annualcreditreport.com.

DID YOU KNOW…

November 5, 2012 by · Leave a Comment 

DID YOU KNOW…American Securiy Mortgage is regularly able to approve loans that would have been declined by other lenders.
No Minimum Number of Trade Lines Prospective buyer moves to NC looking for a place to live. He has a mid 600 credi…

t score but no current trade lines on his credit report. We were able to approve him for a new home purchase using his VA loan and he’ll soon be paying less for his mortgage than he would have paid in rent.
Credit Repair Prospective buyer has been thinking for sometime about buying but is unsure how to fix his credit. After a consultation, we were able to enact a credit repair plan. Now his credit score is up over the 620 minimum and he is out looking at houses this week.
Bankruptcy Prospective buyers have found the home of their dreams, however, they declared bankruptcy a little less than 2 years ago. We conditionally approved their loan and conditioned for closing to occur the day after their 2 year bankruptcy mark. As a result, they made an offer on the home of their dreams and will soon be the owner of that property.

“Jacksonville makes prestigious Kiplinger Best Cities List!”

September 6, 2012 by · Leave a Comment 

How Does Your City Stack Up?

Updated July 2012

Here are the 361 U.S. metropolitan areas that Kiplinger’s Personal Finance  considered for its list of Best Cities for Every Age, 2012. Find out where your  city ranks by sorting the criteria below. The Cost of Living Index is based on  100 being the national average. Job growth is the increase in employment from  2006 to 2011. Income growth is the increase in household income from 2006 to  2011.

Read more and view the Chart Here

12 Things You Should Know About VA Loans

August 27, 2012 by · Leave a Comment 

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Get your FREE Copy of the

“12 Facts You Need to Know

 About VA Loans” Today!

Onslow County Economy Fastest Growing in the Nation

January 31, 2010 by · Leave a Comment 

 

Onslow County is America’s fastest-growing county over the past five years, according to a federal agency that tracks economics.

Total personal income in Onslow climbed 55.5 percent, from $5.3 billion in 2006 to $8.3 billion in 2011, according to the U.S. Bureau of Economic Analysis. Total personal income is defined as the amount of money earned by all residents of a given area in a particular year.

Douglas County, Colo., a Denver suburb, ranked No. 2. Rounding out the top five were Loudoun County, Va.; Paulding County, Ga.; Fort Bend County, Texas; and Pinal County, Ariz.

Wayne County, Mich., home to Detroit, is last on the list.

Onslow’s booming economy is fueled by Marines and sailors stationed at Camp Lejeune and New River Air Station, according to a recent report in the Charlotte Business Journal.

But that’s just a third of the story, said Shelia Pierce, director of Jacksonville-Onslow Economic Development.

“Our economy is powered by the U.S. Marine Corps, of course, but Onslow County also has a wide agricultural base and its tourism, which is beginning to be recognized at the national level, is a major component as well,” she said.

The military, agriculture and tourism are the top three economic areas for North Carolina, which bodes well that they are also the top for Onslow County, she said.

“Our local economy will stay secure for some time,” Pierce said, adding that now is the time to invest in infrastructure.

Onslow County Manager Jeff Hudson said growth in the county has been pronounced in the past few years.

“Information from our tax office and our building inspections offices verify that fact,” he said.

Onslow County’s total estimated tax base is $13.2 billion, said Harry Smith, the county tax administrator.

Hudson said an increasing county population has begun to strain the services provided by local government. But he said the county is committed to providing services to the expanding population as efficiently as possible.

“Onslow remains committed to high quality local government,” he said.

Contact Daily News Senior Reporter Lindell Kay at 910-219-8455 or lindell.kay@jdnews.com. Follow him on Twitter and friend him on Facebook @ 1lindell.

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