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Financing Assistance

GETTING THE BEST FINANCING

Finding the right home for you is your primary goal, but enjoying it with a lower payment and better mortgage terms is a very important secondary goal. We’ve researched and worked with many mortgage brokers and lenders in the Addison real estate markets, and we’ll help you to contact those that are the best fit for you and your financial picture.

The normal mortgage for working families – Just because there’s nothing special about your income stream, and you’re getting a paycheck every week, that doesn’t mean that there won’t be differences in mortgages and lenders for your needs. Every mortgage broker and most lenders tend to work within their own requirements and procedures, and these may or may not be the friendliest terms for a salaried or hourly wage earner. We know which are going to treat you right and give you the best terms, and we’ll guide you to them.

The self–employed borrower – Since the mortgage and housing crisis that began in 2007, it’s become a grueling process for a business owner or self–employed person to get a mortgage. Documentation of income and expenses is much more detailed, and we’re up–to–date on all of it. We’ll steer you toward multiple sources for great mortgages for the self–employed.

Less than stellar credit – All types of lenders have become tougher in our new financial environment, and it’s easy to get a ding or two on your credit these days. It doesn’t even take a mistake or late payment, as credit scores are reduced for the amount and ratio of debt, as well as types of debt. Millions of people pay their bills on time and still don’t have those high end credit scores. We know the lenders in the Addison, Aledo, Alvarado, American Quarter Horse Assoc, Anna, Argyle, Arlington, Aubrey, Avondale, Balch Springs, Bank One of Fort Worth, Bedford, Benbrook, Blue Mound, Bridgeport, Burleson, Caddo Mills, Carrollton, and Cedar Hill real estate markets ready to provide good mortgages for less than high end credit scores, and we’ll tell you who they are.

ARMs and When They're Appropriate   Though most residential home buyers are buying a home they intend to occupy for a number of years, on average around the country at least eight, this isn't always the case. Also, investors may be looking at a shorter ownership time frame. ARMs, Adjustable Rate Mortgages, are appropriate if the plan is to own a home seven or fewer years, particularly five or fewer. Because the lender is tying up their money for a shorter defined time period, they loan at lower interest rates. ARMs can result in hundreds of dollars a month in lower payments in some cases. They can also allow a buyer to qualify for a larger home. However, this isn't generally a great practice, as once the ARMs fixed rate interest period is over, rates can escalate more than expected.

Financial Disclosure and Deal-To-Closing Considerations – Especially after the mortgage and housing problems that began in 2007, lenders and their underwriters are scrutinizing financial, income and expense information much more closely than ever before. Be prepared to dig out a lot of documentation, and it’s best to be forthcoming with any financial information that impacts your ability to pay the mortgage payment. Even if it’s not asked for early in the process, be prepared for questions and requests for documents throughout the process. Also, it’s highly recommended that you not add any credit card or other debt between the purchase contract and the closing. Just before closing, most lenders will do another credit check and a check for any liens or encumbrances.

Watch the Fees and Question Them   There are a number of fees associated with getting a mortgage, and the total of origination and other fees is usually the highest closing cost aggregate item in the deal. Never hesitate to ask about all fees, why they’re charged and why they’re a certain amount and how they’re calculated. It’s your money, and you’re the customer.

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Testimonials

We worked with Stephaine Ziemann when we recently sold our home. She was always available for a quick question and solid advice. Very knowledgeable about the real estate business. We trusted her input and expertise. The buyers also didn't use an agent so with neither side represented in the traditional sense, partnering with Stephanie helped us navigate the process, stay on track with our timelines and get to the closing table effectively. Stephanie also gave us names of companies for estimates on repairs needed. I would recommend Stephanie. Flat fee brokers are the way to go. Very fair fees and it allows for competitive pricing of homes without having to take into account a potential 6% extra costs to selling a home. Gwyn Garner
Stephanie was easy to work with and ended up making me $28,000 more than I thought I would. "Thank You", Stephanie! Jace Wainwright
We chose Stephanie because she has a discounted price for selling a home and my wife and I thought giving up a standard 6% ownership stake in our hard earned equity was a rip-off. Other brokers charging this promised more and said "You Get What You Pay For". That is nothing but a pile of hogwash because with Stephanie we got more than we paid for. I have owned far too much real estate in my life and used countless brokers charging me the full rate. Not one of them performed and went out of their way to get things done the way Stephanie did for us, including repairs and actually paying for one while we were traveling. Plus I used to be a licensed agent in Hawaii for 7 years, and know first hand that sellers get nothing more for their money using a broker charging 6%. If you can get a huge discount (in our case $8000) and superior service 2nd to none, it makes no sense to use anyone else. Unless you just don't like saving a pile of money! Larry Clutter
Simply Smart is the best way/value for selling houses. Stephanie has the experience to help someone new or the experienced write up a listing, advice on the photo shoot and pricing. I have saved well over $100,000 using her services. Yes I have to deal with the buying realtors but in a way it is in my best interest. Simply Smart is the best. Mike Scobee
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