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By Clip Syndicate
FIVE CHATTANOOGA 02-01-18 Thu, 01 Feb 2018 11:49:03 +0000 FIVE CHATTANOOGA 02-01-18 FIVE CHATTANOOGA 02-01-18 WDEF CBS Chattanooga, TN back to wdef in this thursday morning's edition of house chat we have a new guest with us today this is clarence hawthorne from platinum financial platinum financial specializes in home mortgages they're out off gunbarrel road and first glance uh what is your forecast for the 2018 no we're entering a new year what's your forecast for the housing market well fortunately it's good you know especially here in the chattanooga area you'll see in a lot of new construction going on lots of home sales that are happening right now but the biggest problem we're dealing with is inventory right now there's more people who want to buy houses and there's houses available at the market right now good problem for builders that's good we were talking earlier before the segment about myths and in the mortgage industry and i know you had a few you learn to hit them let's first start with a down payment well i think there's a lot of people that feel that you have to have a large down payment 10 15 20 % but we've got a lot of programs that you can get in with no down payment and then there's some programs with 3% or maybe 5% so if you don't have a lot of cash that's not a problem which still can get you into a home and what about the folks out there that maybe don't have the best credit score well that's another myth you know people feel like you've got to have super high credit score but we have programs that go down to as low as 620 and the credit score if you've had past dings you know bad things happen to good people sometimes people have had bankruptcy those types of things so we can even work with those people as well all right and if they've had foreclosures in the past or bankruptcies talk through i guess a little more specific how you can help those folks well if you've had a bankruptcy for example you've got to be outside of that bankruptcy for two years okay a lot of people think it's five six seven years but just two years outside of the bankruptcy and you've reestablish credit we can get you going that way for foreclosure it's it's three years so again it's really not that long you get yourself reestablished after that bad event which could happen for any reason then we're able to get you back into the home buying market and what about special programs like for veteran or first-time buyers well veterans is one of the things we really like to target obviously the service served our country well and we have a ba program that zero money down okay so you can get in the house with no money out of your pocket we also have some first-time homebuyer programs where there are grants available to help with the down payment assistant we've got one program it's called th da that will give you the buy or first-time homebuyer up to $15,000 and down payment assistance that's great well now if any of these viewers out here fish their first time and they fit near these categories and they come to you guys what's the process and how long does it take well the process is that we want to sit down we want to do what we call a pre-qualification interview and we're just going to get your basic information like your job history your credit and those types of things and then we can assess what program is best for you okay whether it'll be a first-time homebuyer program whether it's somebody who's looking to move up or somebody who's looking to buy that you know that dream home on the lake we can deal with all those situations and i know it's hard to save it typically that timeframe until they can close on the homes home you know i would say it's usually 30 days or less okay okay if you're approved we can get you your loan done in 30 days or less we average about 20 to 23 days great well if the viewers out there will get a hold of you how do they do it for 2 3 5 8 0 7 2 1 4 1913 gunbarrel road c hawthorne dot platinum financial funding com perfect clearance thanks really guests on house chat you viewers you know how to find clearance you can find me at house chat that's with two t's dot-com like us on social media or wdef com have a great thursday. now from the epb weather center, your storm team

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