Philadelphia Real Estate Helpful News and Views : Be a Cool Cat Document All Funds You Applied for a Mortgage

Be a Cool Cat Document All Funds You Applied for a Mortgage

cool cat document funds

Be a Cool Cat Document All Funds You Applied for a Mortgage

When you buy a house and apply for a mortgage everything must be documented . All deposit monies must be accounted for especially large deposits . When you give the good faith monies to the Real Estate Company to escrow it must be documented , You must show it coming  out of your bank account .All of these monies must be documented correctly . If you are getting a gift you must have a gift letter and these funds too must be documented properly .

 

If you have  any questions on how to do this ?  Ask your mortgage banker or loan officer before making the wrong decisions . Funds need to be documented properly . Don't make problems for yourself . Don't buy furniture   open new charge accounts , buy a car or make any new purchases . All those big sales  will be there after you purchase your house .

 

Be a Cool Cat Document All Funds You Applied for a Mortgage

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hannah williams

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Re/Max Eastern

 215 953 8800

215 953 8818

 cell anytime  215 820 3376

HannahRemax@Gmail.Com

 

 

 

 

 

 

 

 

 

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Comment balloon 30 commentsHannah Williams • March 29 2017 03:51AM

Comments

Hannah,

Well stated, and I love the picture of Cleo with the glasses.  Happy Wednesday. A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) over 1 year ago

Good Morning Hannah Williams, My Pennsylvania friend,  You are so right, there is so much that has to be done but this is what is needed to get a home.  Make it a great day!

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) over 1 year ago

Great advice for home buyers procuring loans and absolutely lovely cat picture!

Posted by Maggie Dokic | Miami, FL | 305.81.HOUSE (46873), GREEN, CDPE, SFR, Pinecrest | Palmetto Bay | (eXp Realty LLC) over 1 year ago

Hannah, your post is spot on and something every buyer should read. I think often times buyers think getting their home loan in order will be just like getting auto financing and then are shocked at how detailed the process is.

Posted by Amanda S. Davidson, Alexandria Virginia Homes For Sale (Amanda Davidson Real Estate Group) over 1 year ago

OK that photo is da bomb as they say and great post too!

Posted by Kristin Johnston - REALTOR®, Giving Back With Each Home Sold! (RE/MAX Realty Center ) over 1 year ago

Hannah- this is something that everyone applying for a loan needs to know.  Document everything!!!  

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) over 1 year ago

Hannah good advice.  Documentation is KING these days, and can be the biggest cause of delays if it is not handy and easy to produce.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 1 year ago

Excellent advice, Hannah!  And, I love Cleo's fashion sense!  I hope you are having a good week!

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) over 1 year ago

Hannah,  I have drilled this into my clients so deeply that they were afraid to move funds into one account for their closing costs.  

Posted by Kathleen Daniels, San Jose Homes for Sale-Probate & Trust Specialist (KD Realty - 408.972.1822) over 1 year ago

Hannah a couple of times in the past a few 1st time buyers didn't pay attention to 'your funds will be sourced by the lender'....and it took some doing to straighten out the mess they created! They were educated by myself and the lender but sometimes in all the exitement of buying their first home they forget half of what we talked about!!

Posted by Anna Banana Kruchten CRB, CRS 602-380-4886, Arizona's Top Banana! (Phoenix Property Shoppe) over 1 year ago

Ron and Alexandra Seigel  She loves to get her picture taken and wearing glasses is fun for her .

Will Hamm  Buyers need tto be reminded of these facts as sometimes they do not realize it and make a big purchase

Thank you for taking the time to comment

Hannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) over 1 year ago

Maggie Dokic  Cleo loves to give advice

Amanda S. Davidson  Buyers get excited about their house and sometimes want to start furnishing their house without realizing spending big cash sums might hurt their loan

Kristin Johnston - REALTOR®  I will be sure to let Cleo know she is appreciated

Kathy Streib You are so right !  They do sometime forget . Reminders don't hurt 

Thank you for joining the conversation

Hannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) over 1 year ago

George Souto  You know best and I am sure you go over this with you applicants

Myrl Jeffcoat  Busy week but very good -little frantic

Kathleen Daniels  That is great to hear -I do the same . wish all agents did

Anna Banana Kruchten, CRS  An aha moment - Oh that's what you meant . As our blood pressure soars . Thankfully most of the time we are able to work it out .

Thank you for taking the time to comment

Hannah

 

 

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) over 1 year ago

Well Cleo is just the cat's meow!

Posted by Maggie Dokic | Miami, FL | 305.81.HOUSE (46873), GREEN, CDPE, SFR, Pinecrest | Palmetto Bay | (eXp Realty LLC) over 1 year ago

Cute post, Hannah but it has a really good message. I know many buyers need to know this.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) over 1 year ago

Good morning Hannah.  I wonder how you got that cat to stay still while that photo was taken?

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty AR LLC) over 1 year ago

Maggie Dokic  So sweet of you to say so

Debbie Reynolds   You hit the nail on the head .Just had a transaction where we had to remind the buyer right before she was going to buy furniture . She thought it was alright as no payments for a year ,So glad she mentioned it .

James Dray  Cleo the cat loves to pose and get her picture taken  . She also like to wear my glasses . Go figure

Thank you for taking the time to comment

Hannah

 

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) over 1 year ago

Love your photo and very true, one of the things which holds up settlements is often documenting deposits.

Posted by Nick & Trudy Vandekar, 610-203-4543, Tredyffrin Easttown Realtors, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) over 1 year ago

Nick & Trudy Vandekar  we need to catch these things and educate our buyers applying for mortgages

Thanks for the comment

Hannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) over 1 year ago

All the above comments are right. You hit the nail on the head and all buyers need to read something like this before they mess up during the long, process. :)

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) over 1 year ago

Debb Janes EcoBroker and Bernie Stea JD  it is a simple post but right to the point . I hope it is being read by many buyers out there going through the mortgage process

Thank you for taking the time to comment

Hannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) over 1 year ago

Document, document, document...I think many of us have had buyers who knew this, yet all of a sudden you see them pull up with a shiny new car that they just had to have now!

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Condo & Home Sale Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) over 1 year ago

ouy vey we told them how many times Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400  or they had to buy new furniture now .

Thank you for taking the time to comment

Hannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) over 1 year ago

Hannah, what a cute kitty!    Times have changed, and there are SO many documents that need to be submitted.

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) over 1 year ago

Joan Cox do you think so ? I feel it was always this way ..  I must be getting old

Thanks for taking the time to comment

Hannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) over 1 year ago

Hi Hannah -- an eye-catching and important post.   Cleverly presented.  

Posted by Michael Jacobs, Los Angeles Pasadena Area Real Estate 818.516.4393 (Coldwell Banker Residential Brokerage) over 1 year ago

What a great post and message, Hannah. I remember a sale almost going sideways because a client deposited $100 in cash a week before closing and the lender couldn't trace it!

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Residential Brokerage | Charlotte, NC) over 1 year ago

Hi Michael Jacobs  I appreciate your support

Nina Hollander  This happens too often can remind buyers often enough

Thank you both for taking the time to comment

Hannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) over 1 year ago

What a fun way to give an important tip Hannah.  Cute photo!  -Kasey

Posted by Kasey & John Boles, Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties (Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com) over 1 year ago

Kasey & John Boles and the team at Jon Gosche Real Estate, LLC  Cleo loves to watch me on the computer and loves to be photographed .  This way I get to make use of the cute pictures we take .

Thanks for your input greatly appreciated

Hannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) over 1 year ago

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