Financing your Greenville SC real estate or Greer SC real estate

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Purchasing your first piece of real estate, investment real estate, or a second piece of real estate for a second home, can be overwhelming. Even if you purchased Greenville SC real estate before, a Greer SC home, or Simpsonville SC real estate lot, there is always something new out there that you may or may not be aware of. In 2006 and 2007 you could purchase Greenville SC real estate, or Greer SC real estate with no money down and no documentation.  Even investment real estate and second home real estate could be purchased in this manner. Whether you were buying in Greenville SC, Greer, SC, Simpsonville SC, or a second home at the beach in Charleston, SC it was easy. Credit scores didnt seem to matter. But today things have changed. Greer SC homes for sale, Greenville SC homes for sale, Simpsonville SC homes for sale are much more difficult times. Gone are the times of no money down.  So if you are going to purchase Greenville SC real estate or Greer SC real estate, whether it is a Greenville SC home or a Greer SC home, or any home in the Greenville South Carolina area, there are few things you can do.

First, when purchasing Greenville South Carolina real estate, or any real estate for that matter, understand how much you can truly afford. Not what real estate you think you can afford, but what real estate you can actually afford. If you have 1000 dollars, you cant spend 2000. Sounds pretty simple doesnt it?  Well when purchasing real estate peoples eyes are bigger than their bellies, or in this case their wallets, so the real estate they think they can afford is champagne on a beer budget.  I say this because I recently had a client who was attempting to purchase real estate in Greenville SC and move to Greenville South Carolina from Wyoming.  The reason they were going to purchase Greenville SC real estate was because the husband was getting a job transfer. He requested a job transfer but it was continually held up, so eventually, in order to get out of Wyoming they purchased real estate in Columbia SCthis is where a separate job opening occurred. I told my client, although she was working in Columbia, Sc and purchasing real estate there, to please keep me informed as to what they were doing and if they didnt feel comfortable with anything their real estate agent was telling them, to contact me. They didnt. However, after purchasing their Columbia SC real estate they contacted me because they realized they could not afford the payment. They had not sold their real estate and home in Wyoming but were convinced by the mortgage broker and the Columbia SC real estate agent that they could afford it. The mortgage broker said, You have all this money in your home in Wyoming, you can afford it. Now they have 2 mortgages in a Columbia SC home they dont really like, and a home in Wyoming that they will have to move back to because most of their money is tied up there (second mortgage to put down on the second home). The Columbia South Carolina home is now up for sale, they are talking about moving back to their real estate in Wyoming, and they are talking about just allowing this home in Columbia South Carolina go up for foreclosure. Now realistically, in my humble opinion (and there is much more to this story), both the mortgage person and the real estate agent should be arrested, jailed, fined, and stripped of any licenses they have for having allowed these people to purchase this real estate. So the moral of the story is: Dont bite off more than you can chew.

Secondly, realize that when purchasing Greenville SC real estate, Greer SC homes for sale, Greer SC real estate or any real estate, that there are many options out there. You can not be forced to used a certain mortgage broker to purchase your Greenville Sc real estate, you can not be forced to use a certain Attorney to purchase your Greer SC real estate, or any real estate, or even a home inspector.when purchasing real estate it is all up to you whom you use to do all those things that need to be done. Sure, as Greenville South Carolina real estate agents, we can recommend, but you can choose ANYONE you want.  Sometimes builders will have incentives when you are purchasing real estate, I.E. If you use our attorney our closing costs are free, etc.  In that case, investigate, talk to your real estate agent (make sure you can trust them) and make an INFORMED decision about the real estate you are purchasing and the people involved.

Third, get familiar with acronyms and terms in real estate and with mortgages. For mortgage basics when purchasing Greenville SC real estate and Greer SC real estate or Greenville SC homes for sale or Greer SC homes for sale, go to www.nahb.org/for-consumer.  It will help you learn about insuring your Greenville SC home or Greer SC home and how and what it takes to settle the purchase of your Greenville SC real estate.

Fourth, when you figure out exactly how much Greenville SC real estate you can afford, remember a few things. Your Greenville SC home will cost you not only principal and interest, but escrowed taxes and insurance and maybe Home Owners Association for your Greenville SC real estate development and amenities. Remember my story above about the couple from Wyoming attempting to purchase Greenville SC real estate?  KNOW how much you can afford when buying your Greenville SC real estate, Greer SC real estate, Simpsonville SC real estate, or any home for sale or any real estate. KNOW IT AND DONT BUDGE!!! You know how much money you need to go out to eat, for clothing, for good times, not the mortgage broker, so stand firm when financing your Greenville SC real estate. 

Fifth, you should pay down your debts. I get so many calls from people wanting to buy Greenville SC real estate, or a Greer SC home for sale and they sound good at first. Then we check their credit to find they have a car payment, a phone payment, and pool payment, furniture payments. If you want to buy Greenville South Carolina real estate or Greer South Carolina real estate, get rid of your debts. Take your credit card if you have a balance on it, and pay it down. Then either use your ATM card, or cash to purchase from then on. If you continue to use the same credit card you have a balance on, you will never pay it down and never be able to buy the Greenville SC real estate you desire. If you pay your car off and rid yourself of credit card bills, this could be the difference in affording a Greenville SC home, Greer SC home, or Simpsonville SC home worth in one price range as opposed to a much higher price range.

Sixth, attend a first time home buying seminar and talk to a credit counselor who doesnt work for a lender. Or better yet, just talk to me. I have had plenty of experience in credit counseling and would be happy to assist you, free of charge, so that you can some day afford that Greenville SC real estate, Greer SC real estate, or Simpsonville SC real estate or homes for sale.  Also the US Department of Housing and Urban development, better known as HUD, offers free housing counseling and seminars. You can visit www.hud.gov for more information on this. It will help you in your Greenville SC real estate, Greer SC real estate, and Simpsonville SC real estate purchase.

HUD also has a booklet on its site called Buying Your Home: Settlement Costs and Helpful Information. This will help you be well informed about settlement costs (closing costs) and other expensed you may encounter when purchasing your Greenville SC home or Greer SC home or Simpsonville SC home.  This booklet is free and lenders are required to provide you with a copy as per the Real Estate Settlement and Procedures Act, or RESPA.  Read the pamphlet before visiting a lender or mortgage broker and you will be better informed when talking to them about your Greenville SC real estate, Greer, SC real estate, Simpsonville SC real estate purchase.

Finally, it is time to visit your lender. Dont be afraid to ask your Greenville SC real estate agent to meet with you and your lender. The lender should not mind, and if he does, move on to another lender. Your lender and real estate agent will be working closely with regard to you purchasing Greenville SC real estate, Greer SC real estate, Simpsonville SC real estate or any homes for sale or any real estate, so they should welcome the agent; and the business. If you remember when purchasing your Greenville SC home, that you cant spend more than you have, and that if you are to purchase Greenville SC real estate, look to have at least ten percent of the purchase price of the home in your bank account, you should be fine and ready to purchase your first, second, or third Greenville SC home for sale, Greer SC real estate, or Simpsonville SC homes for sale.

Please call me at Happy Sales Real Estate and I will gladly discuss this with you in further detail. These are just the basics and to fully understand how to purchase Greenville SC real estate, it will take more than a short article. There will be no obligation and I will gladly sit with you and inform you on how to make your Greenville SC real estate, Greer SC real estate, Greer SC home, Simpsonville SC real estate, or any real estate purchase a smooth transaction; and help you afford the pitfalls of spending more than you have on Greenville South Carolina real estate and ending up in foreclosure.

My numbers and email are below. I look forward to assisting you in purchasing Greenville  South Carolina  real estate, or any real estate in the area.even Spartanburg SC real estate.  More mortgage information.

Joe Murmello Email At: Happy Sales Real Estate joemurmello@gmail.com 6 Patricia Avenue Phone: Greenville, SC 29617 (864) 246-6288