First Time Home Buyers: 5 Steps to Get Started

Are you ready to buy your first home? Buying a house is one of the largest investments you will make in your lifetime and being a first time home buyer can make the whole process daunting and confusing. Here are a few steps to get you on the right track. 

Step #1 - Check Your Credit

When you begin working with a loan officer, one of the first questions they'll ask is what your credit profile is like. The bank or lender will run a credit check to assess your level of risk as a borrower including your ratio of debt to income and decide how likely you are to make your mortgage payments on time. Since this is your first time buying a home, do your own credit check first via www.AnnualCreditReport.com to make sure there are no errors. 

[NEWS] Midwest Equity Sponsors GiGi Fest

Midwest Equity Mortgage is pleased to have the opportunity to sponsor GiGi's Playhouse in their efforts to provide individuals with Down syndrome, their families and the community with more than 25 therapeutic and educational programs that advance literacy, math skills, motor skills and more; all of which are free of charge.

6 Questions to Ask Yourself Before Renting Your Home

Owning multiple properties can be a great investment. With rental properties in demand, homes and multi-family dwellings like duplexes can offer an opportunity to get your feet wet at being a landlord. But before you start posting availability and interviewing possible renters, it's important to make sure you ask yourself some important questions. You need to fully understand your rights and responsibilities as a landlord. Landlord tenant laws vary greatly depending on where you live.

Questions to Ask Yourself Before Renting Your Property

1. What are the terms of the lease? You will want your renters to sign a lease stipulating the details of their agreement to rent your property. Not only does this outline your expectations, it also specifies how you will handle issues that may arise. Make sure you have a legal professional review your lease prior to having your tenant sign.
   
2. What are tenant privacy rights? Landlords are permitted to enter a home to make repairs, show the property to prospective tenants or deal with an emergency. Generally, with the exception of an emergency, the landlord can only enter the home during normal business hours and must give a tenant notice in advance. This may be subject to change depending upon the language of your lease or the local laws that apply to it.
   

Tips to Remaining Calm During the Loan Process

Stress is a buzzword these days. It seems like each month a new study comes out confirming that stress contributes to a variety of mental and physical issues such as high blood pressure, anxiety, insomnia and premature aging. Aside from the obvious "life or death" scenarios one might encounter once in a blue moon, it's everyday situations such as job interviews, sickness, family decisions or financial hardships that really "stress" us out. 

It's a common statement that buying a home is one of the biggest investments a person will ever make so it's no surprise that it is an event that often causes a great deal of stress. Add to the fact that most people need financial help via a mortgage loan and suddenly, you are not only dealing with the stress of picking the "right" home but also qualifying for financing to make it "your"  home. And just when you think the stress is over, rates drop and your in the market to refinance and go through the loan process all over again.

[NEWS] Midwest Equity Mortgage Ranks No. 1101 on the 2015 Inc. 5000 List

For Immediate Release:

New York - Inc. magazine has ranked Midwest Equity Mortgage number 1101 on its 34th annual Inc. 5000, with a three-year sales growth of 392% and $19.7m revenue. 

Every year Inc. ranks the fastest-growing private companies in America. This recognition has been regarded as a barometer for trending growth and industry standards. Companies such as Yelp, Pandora, Timberland, Dell, LinkedIn, Zillow, and many other well-known names gained early exposure as members of the Inc. 5000.

With more than twenty years combined lending experience between the partners, the management team at Midwest Equity has the knowledge and understanding to helping clients navigate through the entire loan process from start to finish. 

"We are a perfect sized “Boutique” Mortgage Company, large enough to compete with the biggest players around - yet small enough to care. Our two managing members touch every file, and as cliché as it may sound, treat every mortgagee as if they were the first customer in 2006."

Midwest Equity Mortgage is an accredited business with an A+ rating with the Better Business Bureau. The company also belongs to the Mortgage Bankers Association and is in good standing.

"The story of this year's Inc. 5000 is the story of great leadership. In an incredibly competitive business landscape, it takes something extraordinary to take your company to the top," says Inc. President and Editor-In-Chief Eric Schurenberg. "You have to remember that the average company on the Inc. 5000 grew nearly six-fold since 2012. Business owners don't achieve that kind of success by accident." 

For more information on Inc., visit Inc.com

For more information on Midwest Equity Mortgage, visit MidwestEquity.com

Inc. 5000 is a registered trademark and is used with permission.

Midwest Equity Mortgage

855-767-3434 | MidwestEquity.com

Now more than ever, you need to work with someone you can trust. Ask us about our A+ rating from the Better Business Bureau and our incredible complaint-free record and you will know: you have found your lender! Why are you still waiting for the “big bank” to call you back? Get in touch with someone who cares-TODAY!

Midwest Equity on Google+

3 Top Risks to Co-Signing for a Loan

While most people understand what it means to be the primary borrower on a loan - not everyone knows what is involved in Co-signing on a Loan. When you co-sign for a loan, you take on additional financial responsibility for the loan and there are inherent risks. It's important to fully understand how co-signing on a loan will effect your financial profile before saying "yes" to your friend or family member.

Risk: You are Responsible for the Loan. 

If, for any reason, the primary borrower misses or can no longer make payments, the lender will expect you to pay. If you are incapable of making those additional payments - rethink co-signing.

House Hunting Tips Part III: Getting Emotionally Ready to Buy a Home

Are you thinking about buying a home? If you've done your share of house-hunting before, you know that finding that perfect house can be an exhausting endeavor financially, physically and emotionally.

In this Part III of our Home Buying checklist series - we're going to review the emotional prep work necessary to get the most out of your house hunting.