(EMAILWIRE.COM, August 16, 2009 ) Albion, MI – Mark Goedert, owner of Goedert Real Estate, spoke to first-time home buyers at a recent workshop in Albion, Michigan. He presented a first-time homebuyer guide to show who to assess their financial situation to determine their home buying power. “Lenders will look at more than just income when considering you for a loan and determining the size of a loan you can qualify for,” said Goedert. “You may find some creative financing options that help boost your purchasing power.”

Mark explained the pre-qualification process, “This is a quick process that will give you an idea as to the amount of mortgage you can afford. This is helpful when you are house hunting because the asking price is a very important criteria item. When you are serious about buying a home then you will want to go through a more in-depth process called pre-approval. Pre-approval is a more formal process where a lender verifies all data and agrees that you are qualified for a certain amount. A pre-approval document is much better than a pre-qualification when demonstrating your strength as a homebuyer.”

The new home buyers learned about the items a lender looks at when considering them for a mortgage including gross monthly income, credit history, debt and savings. “There are two important ratios lenders look at when they gather your financial data; debt-to-income ratio is your total monthly debt compared to your total gross income. Housing expense ratio is the amount of your mortgage payment compared to your gross monthly income.”

Mark also explained how one can be creative in their financing, choosing long-term financing and negotiating closing costs. He also covered some of the government loan programs with special terms to help first-time home buyers qualify. “A good real estate agent should be able to provide information on various loan programs available to you,” said Goedert.

Mark Goedert of Goedert Real Estate specializes in working with first-time homebuyers. He assists his clients in choosing the right home and the financing that works best for them. Home buyers who work with a Goedert agent are well prepared to make great decisions based on advice from an experienced real estate professional. Visit http://www.under100000realestate.com/ to learn more.

Contact:

Mark Goedert
1324 N. Main
Adrian, MI 49221
517-403-1603
markgoedert@goedertrealestate.com


This press release was submitted by Right Now Marketing Group, LLC

Contact Information:
Goedert Real Estate
Mark Goedert
Tel: 517-403-1603
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