Buyer Knowledge

The Ten Commandments of Buying a Home

  1. Thou shalt not change jobs, become self-employed or quit your job.
  2. Thou shalt not buy a car, truck or van (or you may be living in it)!
  3. Thou shalt  not use credit cards excessively or let current accounts fail behind.
  4. Thou shalt not spend money you have set aside for closing.
  5. Thou shalt not omit debts or liabilities from your loan application.
  6. Thou shalt not buy furnative. 
  7. Thou shalt not originate any inquiries in to your credit.
  8. Thou shalt not make large deposits without checking with your loan officers.
  9. Thou shalt not change bank accounts.
  10. Thou shalt not co-sign a loan for anyone.

 

 

Los Diez Mandamientos para Comprar una Casa

  1. No deberás cambiar de trabajo, ni auto-emplearse ni renunciar al trabajo.
  2. No deberás comprar un carro, ni un camión, ni una Van (o vivir en ella)!
  3. No deberás usar tarjetas de crédito excesivamente o atrasarte con los pagos de las targetas.
  4. No deberás gastar el dinero que separaste para el cierre de la hipoteca.
  5. No deberás dejar de avisar sobre deudas y pasivos en tu aplicacion para el préstamo hipotecario.
  6. No deberás comprar meubles.
  7. No deberás solicitar que verifiquen tu crédito (pull the credit - credit report).
  8. No deberás realizar grandes depositos sin chequear antes con tu oficial de hipotecas (Loan Officers).
  9. No deberás cambiar de cuentas bancarias. Hay que mantener las cuentas como están.
  10. No deberás avalar ningún préstamo, para nadie.

 

 

The Real Cost of Renting

If rent is: 1 Year 5 years 10 years 15 years
$500 $6,000 $30,000 $60,000 $90,000
$600 $7,200 $36,000 $72,000 $108,000
$700 $8,400 $42,000 $84,000 $126,000
$800 $96,000 $48,000 $96,000 $144,000
$900 $10,800 $54,000 $108,000 $162,000
$1,000 $12,000 $60,000 $120,000 $180,000
$1,100 $13,200 $66,000 $132,000 $198,000
$1,200 $14,400 $72,000 $144,000 $216,000
$1,300 $15,600 $78,000 $156,000 $234,000
$1,400 $16,800 $84,000 $168,000 $252,000
$1,500 $18,000 $90,000 $180,000 $270,000
$1,600 $19,200 $96,000 $192,000 $288,000

 

Wouldn't you rather put that money into your own home and build your own equity?

 

 

Vintage Lending

770 E. 4500 S., Suite 220, Salt Lake City, Utah 84107
Phone: 801-809-7283 | Fax: 801-999-7747
Company NMLS: Vintage Lending
IDAHO (Mortgage Broker/Lender License #MBL-7662)
UTAH (DRE Mortgage Entity License - #6713634)
CALIFORNIA (Mortgage License #CA-DBO241179)
FLORIDA License/Registration #: MLD1351
COLORADO NA
OHIO
ARIZONA

Rick's NMLS: 241179