Premier Property Funding LLC

10/28/2024

At Premier Property Funding, we believe that dedication and determination pave the way to success. Whether you're a first-time homebuyer or a seasoned investor, we're here to support your journey every step of the way. Let’s make your dreams a reality! 🏡💼✨

10/23/2024

Unlock your dream home with confidence! 🏡💼 Let us be your trusted mortgage lenders, guiding you every step of the way towards homeownership. From pre-approval to closing, we've got you covered.

10/21/2024

Saving for your first home can feel like a huge challenge, but with the right strategies, you can speed up the process and make homeownership a reality! Here are some tips to help you grow your down payment fund:

𝗦𝗲𝘁 𝗮 𝗖𝗹𝗲𝗮𝗿 𝗚𝗼𝗮𝗹
Start by knowing how much you need for your down payment. Typically, you’ll want to aim for 20% of the home's purchase price to avoid private mortgage insurance (PMI). Set a specific amount and timeline for your savings goal.

𝗢𝗽𝗲𝗻 𝗮 𝗗𝗲𝗱𝗶𝗰𝗮𝘁𝗲𝗱 𝗦𝗮𝘃𝗶𝗻𝗴𝘀 𝗔𝗰𝗰𝗼𝘂𝗻𝘁
Keep your down payment fund separate from your everyday accounts. This helps you avoid spending it unintentionally. Look for a high-yield savings account to earn some extra interest while your money sits.

𝗖𝘂𝘁 𝗨𝗻𝗻𝗲𝗰𝗲𝘀𝘀𝗮𝗿𝘆 𝗘𝘅𝗽𝗲𝗻𝘀𝗲𝘀
Take a close look at your monthly spending. Are there subscriptions or services you can pause or cancel? Small sacrifices like cooking at home instead of dining out can make a big difference when you’re working toward your goal.

𝗦𝗲𝗹𝗹 𝗨𝗻𝘂𝘀𝗲𝗱 𝗜𝘁𝗲𝗺𝘀
Turn your unused or gently used items into cash by selling them online or at a garage sale. Every bit helps when you're saving for a big goal like a down payment!

𝗧𝗮𝗸𝗲 𝗼𝗻 𝗮 𝗦𝗶𝗱𝗲 𝗛𝘂𝘀𝘁𝗹𝗲
If you have extra time, consider picking up a side hustle or freelance work to bring in additional income. You can put all your extra earnings directly into your down payment fund.

𝗨𝘀𝗲 𝗕𝗼𝗻𝘂𝘀𝗲𝘀 𝗮𝗻𝗱 𝗪𝗶𝗻𝗱𝗳𝗮𝗹𝗹𝘀
Did you get a bonus at work or a tax refund? Instead of splurging, put it toward your down payment fund.

𝗖𝘂𝘁 𝗗𝗲𝗯𝘁 & 𝗦𝗮𝘃𝗲 𝘁𝗵𝗲 𝗗𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲
If you're paying off high-interest debt, focus on paying it down aggressively. Once the debt is gone, direct those freed-up funds toward your down payment.

𝗖𝗼𝗻𝘀𝗶𝗱𝗲𝗿 𝗔𝘀𝘀𝗶𝘀𝘁𝗮𝗻𝗰𝗲 𝗣𝗿𝗼𝗴𝗿𝗮𝗺𝘀
Check if there are any local, state, or federal programs that offer down payment assistance for first-time homebuyers. This can significantly reduce the amount you need to save.

Call us today, and we’ll share even more strategies to help you buy a home this coming year. Reach us at 610-831-3787!

10/18/2024

Which of the following concerns are holding back your homeownership ambitions?

(a) I am Worried about the fluctuating economy? –> Well, Historically, real estate has been a stable investment, even during downturns.

(b) I am Concerned about higher mortgage rates? –> Current mortgage rates are around 6-7%, whereas the historical average is about 8%. In the early 80’s it was well over 18%

(c) I am Afraid of inflation reducing my purchasing power? –> Real estate often appreciates over time, potentially outpacing inflation and protecting your investment.

(d) I am Anxious about job security –> Have you Considered properties with rental income potential to offset your mortgage costs?

Thinking about buying a home soon? Smart planning starts now. Comment “GUIDE” and I’ll send you an invite to a FREE Zoom consultation where you’ll learn how to navigate the current market challenges and discover how to avoid costly mistakes!

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10/17/2024

Planning to buy a house in 2025? Here are some mistakes to avoid and what to do instead👇🏻

1️⃣ Skip the debit card—use your credit card instead and pay it off in full each month. Not only is it safer, but it shows lenders you can handle borrowing and repaying money responsibly.

2️⃣ Thinking about a new car? Wait until after you’ve closed on your home. Financing a car can mess with your debt-to-income ratio and credit score.

3️⃣ Got cash stashed away? Get it into a high-yield savings account ASAP. Lenders will check your last 2 months of bank statements, and large cash deposits won’t help.

4️⃣ If you’re more than 6 months out, feel free to browse Zillow. But when you’re serious, use the MLS for accurate info—your agent can hook you up with a free portal!

5️⃣ Hold onto your pay stubs and W2s. Lenders will need them when the time comes.

6️⃣ Don’t borrow money! If you’re receiving a gift for your down payment, make sure it’s documented as a gift, not a loan. Lenders will need to see proof of the transfer.

Looking to buy in 2025? Don’t go broke trying! Comment GUIDE and I’ll send you an invite to a free Zoom session where we’ll go over how to tackle today’s market and avoid costly mistakes!

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10/15/2024

10/14/2024

DON’T make this mistake👇

Make sure you’re considering how both of your finances affect your mortgage.

Here’s a quick example:

🏠 Donald and Kamala ( I know 🤣) are buying a house together.

Kamala:
Earns $90,000 per year, or $7,500 per month
Has $500/mo in student loan payments
Has a Credit Karma score of 710

Donald:
Earns $60,000 per year, or $5,000 per month
Has a $400/mo car payment
Has a Credit Karma score of 780

👉 Combine their incomes:
$7,500 + $5,000 = $12,500

👉 Multiply by 0.45:
$12,500 x 0.45 = $5,625

👉 Subtract their debts:
$5,625 – $500 – $400 = $4,725

👉 The maximum mortgage payment they could qualify for is $4,725**

👉 Adjust their credit scores:
Kamala: 710 – 20 = 690
Donald: 780 – 20 = 760

👉 Their estimated combined score is 690

A few things to keep in mind:

1️⃣ **This is likely what lenders will pre-approve you for—it doesn’t mean you should spend that much!

2️⃣ Credit Karma and similar sites use different scoring models than mortgage lenders, so expect some variation in your actual score.

3️⃣ Some lenders might average your scores instead of using the lower one, but not always!

Found this helpful?

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Call today (610) 831-3787

09/27/2024

First things first, ❤️ Like this post & 💾 save for future reference. Share with anyone you know who might benefit from this info.

Interest rates are dropping, and that’s good news for your wallet! Lower rates mean lower monthly payments, which can help you afford more home.

Right now, rates are hovering around 6.5%—the lowest we’ve seen in over a year—and they might keep going down!

If buying a home is on your list this year, here’s a quick look at what kind of income you might need:

✔️ At a 7.5% interest rate, you’ll need about $101,000 in household income.

✔️ At a 5.5% interest rate, you’ll need around $87,000.

I based this on:

An average home price of $420k
7% down payment
$400 in monthly debt
$5,300 / Yr in taxes and insurance
Assuming a 45% debt-to-income ratio

Keep in mind, this is a simplified example, so if any of these numbers change, what you can afford will change too!
This isn’t a suggestion on what you should spend—just a way to show how interest rates affect your buying power.

–> If you’re curious to learn more, Comment the word “GUIDE” and I’ll send you an invite to a FREE Zoom consultation where you’ll learn how to navigate the current market challenges and discover how to avoid costly mistakes!

09/09/2024

🎉🏡✨ Is it REFI Time Yet?! ✨🏡🎉

Are you constantly asking yourself, "when is the best time to refi?" Well, we have some amazing news for you! With low rates sweeping the nation, there's never been a better moment to consider refinancing your home loan. 💰💫

Imagine slashing your monthly payments and saving big over the life of your loan! 🤑 The opportunity is knocking and it’s time to answer that call. 🚪🔑

Don’t miss out on the chance to make your financial dreams come true with these incredibly low rates! Reach out today and let’s get your refi journey started. The clock is ticking, but it’s still YOUR time to shine. ⏰✨

08/30/2024

Attention newbie investors! 🌟 Ever wondered how DSCR can be your secret weapon in the investment game? It's like having a financial crystal ball, giving you the power to predict which properties will make your wallet happy. Dive into the world of smart investing with DSCR by your side! ✨💼📈