If you are seeking a loan to purchase a home or if you are considering re-financing your current mortgage, give Sandra Claymore a call to check rates and your ability to qualify for a mortgage.
The best first step for buyers who will finance the home they choose, should be to go to a lender and get a pre-approvall letter that will accompany any offer the buyer makes. That pre-approval will also let the buyer know exactly what their price range should be. This saves a lot of time and it can also make an offer successful when competing with multiple offers on a property.
Annette is very good at conventional, VA, USDA and FHA mortgages, including FHA 203k and other specialized options.
Title companies can be a great help for both buyers and sellers. Title companies do a comprehensive search of the history of the title to a given property and create a Property Profile of that property. That profile will say what the title company will require to be done before they will issue title insurance (insuring the merchantability of the title) and the exceptions or what aspects will NOT be iinsured.
As far as requirements, there is a list of the Standard Exceptions that pertain to all properties and any buyer (or seller) can remove those exceptions and get extended title insurance coverage. Two of those exceptions are free, one is $25 and one costs 15% of the cost of the title policy.
The Exceptions are Parties in possession not shown by the public record, easements not shown by the public record, mechanic's liens not shown by the public record (on new construction, removing this exception will require more money or affadafits from all the subcontractors) and that the property conform to a current boundary survey.
The Property Profile becomes a commitment to issue title insurance once a buyer is named. The document is also referred to as a title binder. Any lien, tax lien, judgement, etc should be listed and will be required to be removed before closing will be allowed to occur.
Southwestern Title has an office in Santa Fe and one in Espanola. The email and phone number given here are for the Espanola office.