Owning Your Own Home....do you qualify?

"The American Dream" of owning your own home can be a reality for
many Americans with some wise planning, having consistant income,
frugal use of money, establishing credit, paying bills on time, and saving.

Wise planning...a mortgage professional can guide you in this to
determine when you might be ready to buy. If you want to buy a
home, it needs to become a priority ...over that new car, dream vaca-
tion, luxuries.

Frugal use of money...With your goal of owning a home firmly
before you, establish a budget of what you can spend each month
and still save toward a down-payment and closing costs. Set up a
separate account for these funds. If you are getting married, you
could let it be known that "cash" toward a down-payment would
be greatly appreciated.

Establishing credit....you need to have at least three tradelines
on your credit report. Installment loans (car, student loans, etc.) and
revolving credit. You need a credit card with a history of timely payments.

Credit Tips:
Do not totally pay off your credit cards, keep a small balance
Do not close revolving accounts....that erases history
Keep your balances to 1/3 or below of your high limit
Pay on time!!!

Employment: You need to have a job or if you are self-employed,
have had the business for two years. If you currently are employed,
but have only worked a short time because you were in college,
your college transcript will work for documentation.

As a mortgage professional, I will be happy to help you plan for owning a home!

First Time Homebuyers Listen Up....!

The $8000 tax credit for first time homebuyers ( or buyers who can document they have not owned a home in the past three years) will end November 30, 2009. If you have planned to take advantage of this and have been putting off starting your home search, you need to start now. It takes a while to find the right home and close on it. The first step is to get qualified with a lender, to see what you can afford. I am happy to check your credit and furnish you some loan scenarios to get you started. I will communicate with you by email or phone....whichever is your preferred method of communication. I can originate loans in Texas or Colorado.

There are some great "deals" in homes right now. Rates on mortgages are low and availability of houses is high, so what's stopping you! Robin Ricks

Phone: 214-460-1145 Email: rricks@cenderafunding.com

Why I'm in the Mortgage Business....

Since this is a new blog, I considered that it might be beneficial to a reader to have some idea of why a person would become a loan officer in the business of home financing and enjoy it! I was introduced to this business in 1992 when I was in need...in need of a job and income. I realized my college diploma had gathered a lot of dust after rearing four children and being a stay-at-home mom for 20+ years. I was now on my own. Someone invited me to go to work for them in home financing (truly Divine intervention!), appealing to my people skills and widespread network ( a term not particularly in use then). I took the challenge. I am inclined toward "self-teaching" and jumped right into a business I knew little about, even though I had been involved in buying and selling numerous homes in the Metroplex. I was forced to acquire information and "how to" in a hurry and exponentially. I've stayed with it, and have made wonderful colleagues and friends through the years. Why have I stayed in this business? I truly enjoy people, and I love the problem solving aspect of home lending. That's it in a nutshell. Next blog will be: "You, too, can own a home!"