Helena Talbot’s blog - 4 Ways to Impress Your Lender

Lending is tight, and with the way the market is moving, it may be getting even tighter. But that doesn’t mean your dreams of owning that three-bedroom colonial should be dashed to pieces. It just means you need to impress your lender. Below are a few top tips:

Maintain job security. If possible, you should stay at your current job while building up your credit and zeroing in on that mortgage. Your lender will want to analyze your work history, and make sure you are reliable and have a steady stream of income. If you know you need to switch jobs soon, put off your home purchase until you are securely in your new position. 

Fluff your credit. Your credit is key for securing a mortgage. If yours isn’t up to snuff, spend a year or so working on it before talking to a lender. How can you work on your credit? Pay down any credit card balances and stay on top of your bills. You should also check your ratio of credit available to credit used. 

Trim your spending habits. You're trying to prove to your lender that you can manage your finances and debt. Putting a huge chunk of your salary toward a new car or that stunning living room set will raise a few eyebrows. Avoid excessive credit card purchases while gearing up for a mortgage application. 

Save. This goes hand in hand with trimming your spending habits. Saving for your down payment will be very helpful when it comes to applying for a mortgage. Aim for 20 percent of the amount of home you can afford. A large down payment will prove to lenders that you’re serious as well as a good saver. It will also give you immediate equity and reduce your monthly payments from the get-go.

While securing a mortgage is a tricky process, it’s not impossible—and impressing your lender is only going to help.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.

I have over 25 years experience in the real estate industry.  As a Broker/Owner with Exit Realty Talbot and Company, I bring special tools and solutions that enable me to exceed the expectations of my clientele.  If you are considering listing your property in Loudoun County or the nearby areas, ask me about our latest internet marketing systems.  I would appreciate the opportunity to earn your business.  I am experienced in listing and selling short sales.  For information on the short sale process, please visit  www.LoudounShortSaleSolutions.com.

For a free market analysis on the value of your home, please visit http://www.LoudounHomeValues.com

My past awards and designations include – 2003 President of the Dulles Association of Realtors, 2003 Dulles Area Assoc Realtor of the Year, Salesperson of the year 2000 Dulles Area Assoc of Realtors,  Top Producer awards from both the Dulles Area Association and the Northern Virginia Association of Realtors.  I am a member of the Top 5 in Real Estate Network.

I have lived in Loudoun County since 1979.  I am married with two grown children and two grandchildren.  My son in law is my business partner in real estate.  I love to jog in the mornings and spend time relaxing on my Trawler during the summer months.

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker- Licensed in Virginia. I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax, Clarke, Fauquier, Prince William  Counties.  Our local neighborhoods includeLeesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.                        Cell 703.727.9885    Office 703.574.3800

Free iPhone/Android Mobile App to search Northern Virginia real estate.  2 easy ways to get the App:  Text “Exit9” to 87778 or enter http://87778.mobi/Exit9 into your browser.