greene county realtor

Angela Mauriello
Licensed Salesperson
Member of the Columbia-Greene MLS

Century 21 New West Properties
74 Maple Avenue
Catskill, NY 12414
(518)708-7917

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Buying a home, whether it's your first or fifteenth is a huge deal, and should never be entered into lightly. You should be sure to choose the right realtor to represent you. Angela Mauriello of Century 21 New West Properties in Catskill, NY is sensitive to the fact that homeownershipis one of the biggest commitments of your life and she will treat each step in the buying process as if it is her own.

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A licensed salesperson, working out of one of the busiest greene county real estate offices in the area provides exposure to many listings in Greene and Columbia counties. If you are looking to buy, or sell you will have an edge over your competition in the greene county marketplace. In these times, and in such a competitive market, this is something you can't afford to ignore. Additionally, your property will be accessable to people all over the state, country, and world for that matter.

Century 21 New West Properties has operated under the management of Broker Wayne West for many years, and each member of the office works hard to provide clients with the type of service that is unmatched by other offices. Listing your home with this office ensures that you will have the best virtual tours, lots of web exposure, and will be backed a fully staffed full-time real estate office.


 
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Greene County is located in southeast central New York State, just west of the Hudson River and South of Albany. The county has a total area of 658 square miles and consists of 41 towns. These are: Acra, Ashland, Athens, Cairo, Catskill, Climax, Cornwallville, Coxsackie, Durham, Earlton, East Durham, East Jewett, Elka Park, Freehold, Greene, Greenport, Greenville, Haines Falls, Halcott, Halcott Center, Hanacroix, Hensonville, Hunter, Jewett, Lainesville, Leeds, Lexington, Maplecrest, New Baltimore, Oak Hill, Palenville, Prattsville, Purling, Round Top, South Cairo, South Westerlo, Surprise, Tannersville, West Coxsackie, West Kill, and Windham.

greene county realtor

Because of Greene County's long, rich history, there are many different types of homes built at many different times. You'll find there are stunning Victorian and Georgian homes, beautiful Tudors, Traditional style family homes, Cozy New England Cape Cods, towering mountain top Chalets, Craftsman Bungalows, and of course there are many old Farmhouses. This region of New York State offers such diversity, not only in the architecture of the homes but also in the scenery. From the romantic Hudson River that has been forever frozen in time by various artists, to the lively mountain villages that attract visiters at all times of the year and everywhere in between, Greene County provides the perfect backdrop for your life.

greene county realtor
Greene County Properties

Many people, especially first time homebuyers find the process of obtaining a mortgage to be long, difficult and confusing. Getting prequalified for a mortgage allows you to begin shopping for a home with a rough idea of how much money a bank may be willing to lend. It also gives you an advantage when bidding on a house over those without prequalification.

People should educate themselves on the mortgage process before they begin their home search. People often confuse the terms prequalification and preapproval.

While prequalification gives both the buyer and realtor a clue as to the likelihood of a monetary amount, it is merely a professional opinion and not a guarantee. Preapproval is much more precise. It involves a credit check, verification of income, and weighs debt to income and arrives at an exact number that the bank would be willing to lend.

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Once you have decided that you are serious about buying a home, prequalification is your next step. Almost any bank or broker will do it for you, and most are free of charge.

The process is normally fairly quick, and in no way are you bound to borrowing from that particular institution. It is however recommended that you prequalify with a lender that you are considering for your mortgage.

It is simply easier for everyone involved, including yourself so that you don't have to repeat steps unnecessarily.

 

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Mortgage debt to income ratios are calculations used in determining whether or not a borrower can qualify for a mortgage. Debt to income ratios are the deciding factor in figuring if you have the ability to repay your mortgage.

Below is a list of things to consider when calculating your payments.

Mortgage Payments

Include principle, which is the amount you are borrowing, interest paid on borrowed money, taxes you will be paying, and insurance (Referred to as PITI).

Co-signed Loans

These must be included unless you are able to show twelve months of cancelled checks from the person that is paying the loan, and the loan can not have any late payments

Revolving Accounts/ Credit Cards

You must apply the minimum payment amount on all open accounts.

Installment Accounts

You do not have to count installment loans that have less than 10 months remaining, unless you are applying for a Freddie Mac loan.

Loans from a Previous Marriage

These have to be counted if you are getting a conventional conforming loan. If your divorce papers clearly divide up the liabilities, however, FHA and non-conforming loans may not count them.

Child Support

Must always be included no matter what.

Below is a list of things to consider when calculating your income.

Commission Income

Normally, commission requires no less than a two-year history in order for it to be considered. those making a change from a salaried job to a commission-based job have hard times attaining a mortgage loan until the time they can show two years in that job. There are, however what would be called no-income verification loans out there, with slightly higher rates for those paid by commission.

Overtime Income

Overtime may not be counted unless you have received it consistently for two or more years and your employer is willing to say it is likely to continue.

Bonus Income

This follows all the same rules as overtime income.

Child support

Child support may be used if you are able to prove that you will continue to receive it for an additional three years and you can prove that it has been paid consistently for the past year.

Self-Employed Income

You must be self-employed for at least two years. Usable income is the bottom line on your federal tax return after all deductions.There are things you can credit back such as depreciation but most self employed people have a difficult time achieving the required monthly gross income as a result of having so many tax write-offs.

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Different lenders have different guidelines when it comes to the debt to ratio requirements.The "front ratio" measures your mortgage expense (principal, interest, taxes and insurance, or PITI) as a percentage of your gross monthly income. The "back ratio" includes mortgage expense plus other contractual loan payments. (student loans, vehicle loans, credit card payments) Like the front ratio, it is a percentage of your gross monthly income - not net income.

Conventional Loan Debt To Income

Fannie Mae and Freddie Mac prefer a maximum of 28% for the front ratio and 36% for the back ratio.

Non-Conventional Debt To Income

FHA allows 31% for front and 43% for back. VA only uses the back ratio of 41%.

Non-Conforming Loan Debt To Income

This term refers to those that don't conform to the same strict guidelines of conventional loans. These loans usually only use the back ratio and go to a much higher percent in many cases.
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A mortgage broker is a good person to have on your team when you are in the process of buying a home. They have access to many loan sources, contacts in all areas of the lending arena, and are equipped with the knowlege to get you the best deal at the best rate.

Many people become concerned with how the mortgage broker will be paid. Contrary to what many people believe, the mortgage broker is actually paid by the bank, not the borrower. If you have found a broker that is charging you a fee up front, it is recommended that you find a different person to do your business with.

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The mortgage broker is very helpful in all situations, especially when searching for a specialized product such as for bad credit loans, or for smaller down payments. They are well aware of the market, and will do all of the frustrating work for you. They will help you to avoid multiple rejections, and know how to get you the best loan for your specific needs.

When working with a mortgage broker, you will not be subject to filling out endless amounts of loan applications. You will only need to fill out one set of paperwork for the one specific mortgage product they have selected for you.

browse greene county homes for sale

Contact your local Greene County Realtor today.

The best place to start when you are feeling overwhelmed is by calling your real estate agent and asking any questions you may have. They are very knowlegable when it comes to all aspects of the home buying process, and have the experience needed to guide you along the way.


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