Kenn Renner's (kennrenner) Blog

Most home buyers have four basic questions they want answered when they meet with a lender. 1. Do I qualify for a home loan? 2. How much can I qualify for? 3. How much will my monthly payment be? 4. How much will it cost to buy a home? How much do I qualify for? You will want to know the maximum ...

The standard loan application form that most home lenders use is called F.N.M.A. form 1003. On the application, you will provide your residence and your job history for at least two years. If you already found a home to buy, the address and purchase terms of that home will be provided. You will p...

The official name of the form for a loan cost breakdown is the “Good Faith Estimate of Closing Costs.” It will show you what interest rate and fees will be charged for your loan and will help you compare with the other lenders you may interview. Not all lenders charge the same interest rates and ...

The lending professionals that you will be involved with are your: 1. Loan Officer 2. Loan Processor The Loan Officer is the consultant whom you will make application with. They will analyze your situation and present several lending options. You will discuss down payment, closing costs estimates...

Many first timers will start searching for a home loan or a lender on the internet or in the newspaper. This way of finding a home loan can be hit or miss at best and at worst, a down right disaster. Home buyers start looking for the “best rates” and the “lowest” down payment. This can lead to tr...

The next step in the home buying process is to apply for a home loan and obtain a pre-approval letter. For many years, I owned and operated a mortgage company so I have insight and knowledge about the loan business. I realized that to address the subject properly, I needed an entire chapter and p...

Advocacy Your personal real estate professional is your “advocate.” They not only help you find and negotiate a great deal on a home, they will help coordinate the entire process. It’s great to have an experienced guide on your side. You will be glad to have an advocate working with you to bounce...

Buyer’s agents can also be helpful negotiating with “for sale by owner” homes. The owner is usually willing to pay a buyer’s agent commission. What the owner is really trying to save is the listing agent’s commission. So, if you find a for sale by owner you want to see, tell your agent and they w...

Having a well respected high volume real estate agent on your side can make all the difference in getting you a better deal. Or for that matter even getting the home at all. When I call a listing agent about a home, I will usually get better and more complete information from the listing agent th...

Time and time again, I see home buyers purchase directly from listing agents or builder’s on-site representatives without their own agent. They think they can get a better deal going directly to the agent who has the sign in the yard because the seller won’t have to pay a buyer’s agent – wrong! L...