buying power article
TRANSCRIPT
-
8/11/2019 Buying Power Article
1/1
E 1POST REGISTERFriday, January 17, 2014
3816 Greenwillow DriveThis clean home sits on a HUGE lot surrounded bybeautiful mature trees & is fully fenced with auto
sprinklers!Youll be pleasantly surprised by the vaultedceiling & open floor-plan. It is also equipped with all majorkitchen appliances & the washer & dryer are even nego-
tiable. Bedrooms are good sized & there are 2 FULLBATHS! Top it all off with gas heat & central air! Nestled at
the back of a quiet cul-de-sac close to schools. This is amanufactured home on a permanent foundation, so it canbe financed as Real Property. MLS #188015 $74,000
Tina MillerBroker
1120 Corinne AvenueGreat Condition-Great Location- 4 bedrooms- 3 baths-
2-car garage. Maintenance free brick and metal siding.The lower level has recently been remodeled and
has a new bathroom and egress window in the bedroom.Beautiful Hardwood floors. Main floor laundry/mud room.
Large family room. Two fireplaces (gas & wood). Beautifulhardwood floors. Private yard with a large covered patio.
Close to the park with swimming pool and baseballdiamond!$135,000---ad #189698
Bebe HitzAssociate Broker
2950 Ammon RoadLook at this one-owner Neo-Victorian charmer.
Custom-built in 1983 with quality workmanship and materialsthroughout - - better than new. Spacious design allows for large
gatherings as well as cozy areas and private spaces to getaway from it all when you feel like it. Gorgeous kitchen and for-mal dining - - the charm of fireplaces on all three levels - - large
food storage and pantry areas. The 4.61 acre lot is your ownmini-ranch. Animals allowed - - corral and RV dump on acreage.
A private spot with easy access to hospitals, schools, and cityconveniences. There are houses and houses. This one callsout, Make me your home. Come and see!
MLS #189071 $289,000
David KlepichRealtor
Real estate supplement
By Casey Archibald
Editors note: This is thefirst storyin a series covering the home-buy-ing process. Each week will cover
the steps you can expect to gothrough before moving day.
For a first-time home buyer,buying a home can be intimidat-ing. If this is you, there are a fewthings you should know beforejumping in.
Before setting foot in anypotential home, buyers need toget pre-qualified for a mortgageso they know what their buyingpower is.
According to Joni Ke-
pler-Fleenor, the Senior VicePresident and Branch Manager atInterWest Mortgage, a divisionof Iberia Bank, the two mostimportant things to acquiring amortgage are credit and employ-ment.
Everything is really creditscore-driven so you want toobtain as high a credit score asyou can possibly get, said Ke-pler-Fleenor. Some people thinkthat being completely debt-freeis a good thing, which it is, butyou have to have some kind ofcredit revolving and going all thetime. In order to obtain a goodcredit score you have to show
that you are ready to make re-sponsible decisions. Paying cashall the time is not going to helpyour credit score.
Kepler-Fleenor suggested get-ting a credit card and paying it offevery month. But be careful notto run the balance up because that
can be very hard on a credit score.Adrian Esta, a Mortgage Loan
Originator at Bank of Idaho,suggested getting a credit cardthat is completely dedicated topaying for one type of purchase,like fuel.
There are credit cards out there
that are secured with your ownfunds, said Esta. Start with acard that has a really small limit.If you try just paying for gas withthat card you can either put themoney aside to pay it off if you aredisciplined, or go straight to thebank and pay it right off. If you
are paying it off monthly you arenot paying any interest and it willbump up your credit score.
Esta explained that it is best tokeep some credit running all thetime. It is not enough to take out aloan and pay it off very quickly.
If you take out any kind of
credit and you are trying to buildyour credit score, you want topay that off through at least sixmonths, said Esta. If you pay itoff sooner you wont have muchhistory. You always want to havesome kind of positive reportingcredit. In most cases it is worse to
not have any credit than to havebad credit.
Esta suggested that everyonehave at least one credit card. She
explained that more cards than thatare not necessary.
According to Kepler-Fleenor,the other very important thing todo to prepare to get a mortgage isto have steady, continued employ-ment.
It looks best if you have sever-al years of experience in the sameline of work, or improvement ofemployment, she said.
Once a potential buyer hasestablished credit and goodemployment, then it is time to getpre-qualified for a mortgage.
In order to get pre-qualified,a potential buyer must providecertain documents to their lender.
Paperwork includes tax returns,W-2 forms, recent pay stubs andbank statements. Potential buyersshould contact their lender for spe-cifics as each bank or lender mayhave slightly different require-ments.
The lender then informs the
potential buyer what kind of loanthey qualify for and what pricerange home they can purchase.The real estate agent is then
informed of the final numbers and,with the buyer; they begin search-ing for a home.
Once a home is found and acontract is negotiated between thebuyer and the seller, the real estateagent contacts the lender and givesthem the signed purchase and saleagreement. At that point the buyerstarts the final process of obtainingthe loan.
Always understand the termsof your loan, said Esta. Thisincludes the interest rate and feesassociated. Know what you aresigning and ask questions.
Kepler-Fleenor said it is a com-mon misconception for first-time
home buyers that it is difficultto get a mortgage to purchase ahome.
If you show good credibility employment, good rental histo-ry, good credit it is not difficultto get a loan for a home, she said.You have to show responsibility.
Buying power Credit, job history keysto getting a mortgagefor your dream homeCrunching Your Credit
The Young ProfessionalsNetwork hosts Cassey
Troshynski, of ISU Credit Union,who will share the tricks to
increasing your credit score,understanding your reportand myths associated with
credit scores.
Thursday, March 20
at noon
Willard Arts Center498 A St, Idaho Falls
Finally Home!The Greater Idaho FallsAssociation of REALTORS
offers monthly classes for first-time home buyers. The next
class is scheduled for:
Feb. 17-18
6:30-9:30 p.m.
Preregister for the class atthe boards office at 1508Midway. Call 523-1477 for
more information.
805 Cleveland StreetPRICE REDUCED....
This really clean house is in impeccable condition. It has newly texturedand newly painted walls and ceilings; new windows, new electrical out-
lets and switches. The cupboards have been newly refinished. Like newappliances included. Heavy-duty architectural grade shingles should
provide a trouble free roof for years to come. The nicely maintained yardis large and well-fenced and boasts a convenient storage shed. The
desirable corner lot is in a nice neighborhood and close to schools andparks. The insulated garage can double as a shop for do-it-yourselfers. Ithas a beefed-up electrical system with 220 and 110 volt outlets every few
feet. The wood faced walls provide sturdy support for hanging anyshelves, hooks, or tools, etc. desired. The crawl space is roomy and pro-vides plenty of nice additional storage space. Don't worry about fixing up
before or after you move. This house is ready now. Come and make ityour new home.
MLS #189149 $99,500
David KlepichRealtor
201 N Center Street, Parker
A LOVELY LITTLE HOME IN A LOVELY LITTLE TOWN- -Nestled in the heart of the quiet village of Parker. Youhave to see the unique interior to appreciate how quaintand charming it is. Very clean and well maintained, withan expansive floor plan that lends itself to comfortableliving. Large corner lot with mature trees and a largewell-maintained storage building that could easily be
used as a shop. Good rental history.MLS #190001 $80,000
David KlepichRealtor
2955 E Courtyard Circle, AmmonImmaculate town home!Clean and very well cared for.
Walk in to this inviting formal living room. Great Room hasa gas fireplace, and built in book case. Nice functionalkitchen, with hardwood flooring, from kitchen through
dining area. 2 bedrooms on the main and 2 baths. Down-stairs is completely finished with 2 additional bedrooms, afull bath and large family room. Storage with with plenty ofbuilt-in Shelves. Extra long garage that is just as clean as
the inside of this home. Central A/C and gas heat.MLS #190287 $157,000
Julie WinnRealtor