Question and Answers

Buyer’s Questions

How can I get pre-qualified?

The process is very easy, provided you have gathered documents necessary to prove claims you make on the application.

The lender will ask for information about your job tenure, employment stability, income, your assets (property, cars, bank accounts and investments) and your liabilities (auto loans, installment loans, mortgages, credit-card debt, household expenses and others).

Check off the following items to be sure you can answer questions necessary to pre-qualify you:

      Past 2 years W-2’s
      Past 2 years Complete Federal Tax Returns
      1 Month Most Current Paycheck Stubs
      Name and Address of Landlords for past 2 years (if applicable)
      Current Mortgage Statements
      Most Current 2 months Bank Statements for ALL deposit accounts (checking, savings, money market, CD’s etc.)
      Most Current Statements for ALL Stock, Mutual Fund, 401K, Retirement Accounts
      Copy of the Accepted Offer to Purchase signed by all parties
      Copy of Earnest Money Check / Receipt
      Statements of Revolving Debt to be paid off
      Name and Phone Numbers for Homeowner’s Agent
      Divorce Decree, Child Support Agreement, Bankruptcy Discharge with appropriate schedules etc. if applicable.

Ideal Financial Services is a company that was founded on the principle of providing the best customer service in the marketplace and a wide array of lending solutions that will meet the home mortgage needs of any borrower. With it’s solid track record for success and outstanding customer service, Ideal Financial Services has become the only mortgage company to win the Wisconsin Association of Mortgage Brokers (WAMB) Broker of the Year Award two times in 2000 and 2002.

Ideal Financial Services Corp. is currently authorized to do business in the following 12 states: Arkansas, Colorado, Illinois, Indiana, Iowa, Michigan, Minnesota, Mississippi, Missouri, Montana, Wisconsin and Wyoming.

Since its early beginnings, Ideal Financial Services Corp. has been a full spectrum lender with a complete line of lending solutions including conforming, non-conforming, FHA/VA, construction and home equity products. With a portfolio of over 70 major investors, Ideal Financial Services Corp. is able to provide a lending solution to virtually any borrower.

Ideal Financial Services Corp. has a unique understanding of the competition that exists in the mortgage industry. Our business plan includes a diverse marketing strategy with an emphasis on 1) the very best service to our growing network of customers and 2) a consistent pursuit of new markets and under served markets.  Click on the Ideal Financial Services Logo to see all of the programs offered by Ideal Financial Services.

Why do I need a Real Estate agent?

Buying and selling real estate is a complex matter. At first it might seem that by checking local magazines, newspapers or online sites you could quickly find the right home at the right price.

But a basic rule in real estate is that all properties are unique. No two properties, even two identical models on the same street are precisely or exactly alike. Homes differ and so do contract terms, financing options, inspection requirements and closing costs. Also, no two transactions are alike.

In this maze of forms, financing, inspections, marketing, pricing and negotiating, it makes sense to work with professionals who know the community and much more. Those professionals are the local Realtors who serve your area.  Click on the  Legacy Logo for more information on the many ways to contact Legacy Realty.

Why do I need Title Insurance?

Title Insurance provides a guarantee of ownership of your home.  It informs you of the nature of any other outstanding interests in the property (liens and encumbrances) and protects you against unknown claims of ownership to or interest in your property.  Before a transaction involving a loan or sale of property is completed a Title Company will go through several procedures.  Click on the Reliance Title Logo to see all of the services that Reliance Title Services provides.

Seller’s Questions

Realtor vs. For Sale By Owner (FSBO)

What a Realtor can do for you.

• The Realtor you work with could be one of your most valuable resources. Unlike many real estate agents who are simply licensed by their state to do business, Realtors have taken additional steps to become members of the local board of Realtors and have agreed to act under and adhere to a strict Code of Ethics. Plus...
• A Realtor can help you determine how much home you can afford. Often a Realtor can suggest ways to accrue the down payment and explain alternative financing methods.
• A Realtor, in addition to knowing the local money market, also can tell you what personal and financial data to bring with you when you apply for a loan.
• A Realtor is already familiar with current real estate values, taxes, utility costs, municipal services and facilities, and may be aware of local zoning changes that could affect your decision to buy.
• A Realtor can usually research your housing needs in advance through a Multiple Listing Service--even if you are relocating from another city.
• A Realtor can show you only those homes best suited to your needs--size, style, features, location, accessibility to schools, transportation, shopping and other personal preferences.
• A Realtor often can suggest simple, imaginative changes that make a home more suitable for you and improve its utility and value.
• A Realtor is sensitive to the importance you place on this major commitment you are about to make.  Click on the  Legacy Logo for more information on the many ways to contact Legacy Realty.

Why try a For Sale By Owner (FSBO)?

The biggest reason to try selling your home on your own is to avoid the commission fee that a Realtor will charge. Many people will opt to try selling their homes on their own so they can keep that extra money in their pockets.

If trying to sell your home on your own, Reliance Title Services (For Sale By Owner) can provide the information you need to get the job done. If the prospect of trying to sell your home on your own seems too overwhelming, please allow Legacy Realty to provide the services you require. Click on the Reliance Title Logo to see all of the services that Reliance Title provides.

Real Estate and Mortgage Terms
Click above for a comprehensive list of Real Estate an Mortgage Terminology.

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