Pembroke Pines, FL

BELIEVING A RATE QUOTE THAT'S TOO GOOD TO BE TRUE.

MORTGAGE MISTAKE #5

It's a cliche' but it's true. If something seems too good to be true, it probably is. If one broker is quoting you an unbelievable rate and everyone else is in another ballpark, run for the next exit. All lenders have to operate in the same economic world, and a rate out of line with everyone else's is cause for skepticism.

Some brokers will use an artificially low rate to entice customers. Then they'll move the process far enough along until it's too late to do anything when your rate "suddenly" increases for any one of a variety of handy excuses. Remember, if your rate isn't locked in, you're not protected against this kind of unethical behavior.

Not getting a written good faith estimate.

When you apply for a loan, lenders are required by law to provide you with a "good faith estimate" within three days of receiving your application. This is an itemized list of the costs associated with the loan you're considering and to whom these costs are paid. Although these figures are just estimates and may change at closing, they're a good guide for reviewing changes and asking questions.

When comparing different lenders and programs, using the good faith estimate is one way to do comparison shopping to make sure you don't overpay thousands of dollars at closing.

INSIDER SECRET:

THE GOOD FAITH ESTIMATE IS AN ITEMIZED

LIST OF THE COSTS ASSOCIATED WITH THE LOAN

YOU'RE CONSIDERING AND TO WHOM THESE

COSTS ARE PAID.

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Buying a home is the biggest investment most of us will ever make. Unfortunately, it's also the greatest opportunity to make a bad decision that could end up costing thousands of dollars.

In fact, top producing mortgage brokers from across the nation will tell you they see the same common mistakes come up time and time again. Avoiding these wrong moves can help to ensure a relatively pain-free lending experience.

Mortgage Mistake #1

Not improving your credit score when you have the opportunity to do so.

A Solid credit history can mean qualifying for a larger loan, lower interest rate and lower monthly

payments. A high credit score makes you more creditworthy in the eyes of lenders.Prior to shopping for a home loan, do everything you can to improve your credit score. Pay your bills on time-payment history can account for up to 35 percent of your credit score,, according to the American Bankers Association. The longer you pay your bills on time, the better.

Pay off or pay down credit cards, auto loans and other obligations that affect your creditworthiness. Amounts owed account for another third of your score.Watch out for red flags like minimum-only payments, late payments and dipping into a credit line to pay for living expenses-these suggest you may be in financial difficulty.

And it goes without saying that you need to know your cedit score before you sit down with a broker. Know your financial situation and be prepared to explain any potential concerns

If you give yourself a good six months to correct errors in your credit report, and identify and address potential problem areas, you'll be in a much better position to buy when the time comes.

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There are a lot of questions and confusion regarding the Obama administration's announcement of its latest plan to help troubled homeowners, enabling an estimated 3.5 million underwater mortgage holders to refinance at today’s historically-low interest rates.

There are many hopeful homeowers that are delaying the recovery process in hopes of qualifying for the program. Lets take a moment to review the qualifications of the plan...

Under the current proposal, to be eligible borrowers must:

Have not missed a mortgage payment in the past six months, and have no more than one late payment in the six months prior;
Have a credit score of 580 or higher;
Have a current mortgage balance within loan limits for FHA-insured loans in their communities; and
The property must be their primary residence

it’s important to remember that this program would require Congressional approval, which may never happen.

If you or someone you know is on the edge, if you are facing foreclosure and need immediate help, don’t let the media talk of this proposal distract you from finding a real solution. Time is of the essence.

Walnut Creek Homes for Sale in Pembroke Pines

The community of Walnut Creek in Pembroke Pines is a guard gated neighborhood of approximately 895 single family homes, condos, villas and townhomes. At the heart of the community are the fabulous resort-like amenities, including; a community clubhouse with swimming pool and hot tub, tennis courts, exercise facility and multi-purpose meeting rooms ideal for card games, book clubs and social functions.
Walnut Creek is ideally situated near ample shopping venues, close to lots of dining options, from casual to 5 star fine dining, 15 minutes from the Hard Rock Café Casino and Hotel, a short drive to the Pembroke Pines Mall and downtown Hollywood. Commuters have easy access to all the major roadways, including; I-95, the Florida turnpike and I-75.

The Walnut Creek neighborhood was built in the early 2000′s and features 3,4,5 and 6 bedroom residences ranging in size from a little over 1100 square feet to over 3300 square feet of living space. With the selection of homes sizes, options and styles, there is certain to be the perfect home for you and your loved ones here in Walnut Creek. Walnut Creek in Pembroke Pines, Florida offers residents and their guests the following fabulous amenities:

* community swimming pool and hot tub
* lighted tennis courts
* fitness facility
* kids play area
* meeting rooms and gathering centers ideal for social activities and events

Walnut Creek is centrally located to all major roads – and is easily accessible to both the Ft. Lauderdale-Hollywood and Miami Airports, as well as the ports of Ft. Lauderdale and Miami for all of you cruise lovers.

Walnut Creek borders Hollywood FL on the East, and is 9 miles from the beautiful sand and sun of the beaches.

Walnut Creek in Pembroke Pines is located near a multitude of shopping, dining and entertainment choices – ideal for everyone in your household. The Walnut Creek community offers residents great recreational facilities, a fantastic array of home style and size options as well as nicely manicured grounds.

Walnut Creek is a quick drive away from the beaches, and the fun cities of Ft. Lauderdale and Miami – where there is an ample assortment of fine eating establishments, tons of great shopping options and fabulous entertainment venues. All of these wonderful attributes makes the Walnut Creek community a neighborhood anyone would be proud to call home.

Walnut Creek is conveniently located 1/2 mile East Of University Drive, on The North side of Taft Street.

Communities and or subdivision located at Walnut Creek

Mahogany Bend
Maple Glen
Maple Grove
Palm Brook
The Park
The Preserve
Willows Reach

For more information please visit our Walnut Creek home page.