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Zulekha Sohail, Loan Officer

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Zulekha Sohail, Loan Officer

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10/19/2022

Google may be amazing, but nothing beats a true expert in the field.
With the crazy market and quick changes happening, always remember, I have ALL the answers and expert advice too!

10/17/2022

It is amazing how many people we speak with that think they do not have what they need to purchase their first home.

I will walk you through the entire process and assist you in creating a plan to work towards where you need to be if you aren’t quite ready.

10/14/2022

Looking for your new home without finding how much you qualify for is putting the cart before the horse. Find out what you qualify for... make sure you can afford your payment... and it will save you a ton of time and heartache when you do start your home search.

10/12/2022

I am here to answer any questions you may have regarding today’s interest rates and our current market!

10/10/2022

𝑨𝒓𝒆 𝒚𝒐𝒖 𝒋𝒖𝒔𝒕 𝒔𝒕𝒂𝒓𝒕𝒊𝒏𝒈 𝒐𝒗𝒆𝒓 𝒘𝒉𝒆𝒏 𝒓𝒆𝒇𝒊𝒏𝒂𝒏𝒄𝒊𝒏𝒈?

The most common reason for refinancing a mortgage is because interest rates have fallen, but there are other reasons as well. You might want to change the term of your loan, for example, from 30 to 15 years. Perhaps you have a balloon payment coming up that you'd like to avoid. Maybe there are some marital issues to attend to, and you need to get someone completely off the current note. For whatever reason, some may wonder if refinancing is simply starting over with a new loan. 𝗧𝗵𝗲 𝗮𝗻𝘀𝘄𝗲𝗿 𝗶𝘀 𝗻𝗼, 𝗯𝘂𝘁 𝘁𝗵𝗲𝗿𝗲 𝗮𝗿𝗲 𝘀𝗼𝗺𝗲 𝗼𝘁𝗵𝗲𝗿 𝗶𝘀𝘀𝘂𝗲𝘀 𝘁𝗵𝗮𝘁 𝗺𝘂𝘀𝘁 𝗯𝗲 𝗮𝗱𝗱𝗿𝗲𝘀𝘀𝗲𝗱.

Have you got any questions? Give me a call if you have any queries about mortgages.

10/07/2022

Types Of Assets To Include On Your Mortgage Application

When a lender goes over your home loan application, they’ll take a look at your credit score, total monthly debt and total monthly income as well as your overall net worth. Your net worth matters because it tells your lender how much money – between your income and assets – you really have.

1. Cash And Cash Equivalent Assets
Be sure to list all of your cash and cash equivalents on your mortgage application. These assets include any cash you have on hand, the money in all of your checking or savings accounts, money market accounts, certificates of deposit (CDs) and more.

2. Physical Assets
Physical assets include anything tangible that you own that’s valuable – anything that can be touched. Physical assets that can be sold for funds to be used to qualify for a mortgage include – but are not limited to – properties, homes, cars, boats, RVs, jewelry and artwork.

3. Nonphysical Assets
Nonphysical assets aren’t as liquid – and they don’t have a physical presence like a house or car. Pensions, 401(k)s, IRAs, bonds, stocks and even royalties fall into this category.

4. Liquid Assets
Any nonphysical asset that you can instantly convert to cash would fall into this category, like readily tradable bonds or stocks.

5. Fixed Assets
There are some physical assets that may take longer to receive cash for, such as furniture, some real estate and antiques.

6. Equity Assets
If you have any retirement accounts, stocks or mutual funds, these are considered equity assets. Be sure to include these on your home loan application.

7. Fixed-Income Assets
Fixed-income assets include any investment funds that have been lent in exchange for interest. This typically includes government bonds and some securities.

10/05/2022

3 TIPS TO HELP YOU GET A GOOD MORTGAGE RATE WITH A LOW INCOME

1. Find a home that you can afford:

If you choose a home that you can afford comfortably and have a good credit score, your rates are likely to be reasonable. If you try to purchase a home a bit outside your budget, you’re likely to face higher interest rates and monthly payments. Especially, if you have bad credit. When purchasing with a low-income, your new home can be a starter home and an opportunity to build your credit. This is a great way to prepare for a second home purchase and buy that dream home. Right now, pick an affordable home and use it as a tool to build on financially.

2. Be careful with adjustable-rate mortgages:

Adjustable-rate home loans allow low-income home buyers to afford a more expensive home initially. However, getting one can backfire in the long run. You’re probably asking yourself, “Why would this backfire?”. It’s because the interest rates of these mortgages will usually increase. As a result, your monthly payments will go up over time. This can make it more difficult to afford the payments each month. Not only could this result in foreclosure, but it could lead to damage to your credit score. This will make it more difficult to get new loans in the future.

3. Large Down Payments:

The amount that you need to borrow is the biggest factor being considered when applying for a mortgage. If you’re able to afford a significant down payment, use this to reduce the amount that you need to borrow. The larger the down payment, the less money you’ll need to borrow and the better rate you can receive from a lender. While your income may be low and it might be tough to save, we put together five budget tips to help you save for a home mortgage.

Get approved to see what you can afford.

10/03/2022

WHAT IS A MORTGAGE NOTE

09/30/2022

A less than perfect credit score should not stop you from owning your dream home! 🏠

You can still qualify! Let's discuss your options!

09/28/2022

Are you under the impression that closing credit accounts will increase your credit score? This common misconception can lead you to take unnecessary steps in an effort to improve your credit.

I can help identify your specific credit repair needs. Make sure you are taking the right steps by contacting me today!

09/26/2022

I can get you the money you need to buy a new home.

📲DM or Call me

09/23/2022

An FHA loan has lower down payment requirements and is easier to qualify for than a conventional loan. FHA loans are excellent for first-time homebuyers because, in addition to lower up-front loan costs and less stringent credit requirements, you can make a down payment as low as 3.5%..

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New York, NY

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+13475833127

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