Every Monday Morning at 8:15am, join me on my Facebook page as I sit down with a local lender, and do a live interview and talk about a Mortgage Tip that may help YOU with your next Real Estate Purchase. 

This morning I sat down with Barb Adelaine from BankStar. Today, she explained the different options home buyers have with low down payment loans.  You can reach Barb at 605.696.8562 or barb.adelaine@bankstar.com.  Her office is located at 1301 6th St., Brookings SD 57006 or on the web at www.ebankstar.com 




- Good morning everybody, Shane here from The Brookings Home Team, powered by Century 21, and we have connection today so two weeks in a row now we have connection, that's good. It is 8:15 Monday morning, which means it's Monday Morning Mortgage Tip, and I got Barb here from Bank Star. And we're just gonna jump right on in. Well I'm sorry, before we start that, as you're poppin' on here guys please let us know when you jump on, give us a heart, give us a like, comment, that way we know you're in here and if you have any questions let us know. All right Barb, take 'er away.

- Hey it's Spring, it might not look like it this morning, but we've had a couple of nice days and as soon as things get nice everybody started looking at houses, like I'm sure you must be too. So what we're seeing is that all of a sudden somebody calls the bank and they're in a panic because they found a house they like and they wanna make an offer and they're not ready. So even though you've heard it a million times before, this is a great time to go get pre-approved with your lender. Grab the taxes you just did last month, a recent pay stub and a bank statement to show you got a little money for your down payment and closing costs, and go list with your lender. Visit a couple if you want and make some comparisons. They'll be able to pull your credit, balance your budget, figure out what price range is gonna work best for you. And once you're pre-approved write you a letter so that your realtor can put that with your offer and they know that you're ready to go when they're comparing offers with other people, that's always helpful. So again, just grab a few things, call your lender and get ready to go.

- You mention credit, do you always have to pull credit? I get that asked quite a bit. Do they have to pull credit or can you do it without a credit pull?

- There's a while bunch of things about that credit report that you might not know. There can be some wrong information on there. There could be an old something that you thought was taken care of years ago but it isn't, things that would be stumbling blocks for you. And once you have a contract you're constricted in a timezone where you need to hurry up and fix that while you're gettin' ready to buy your house. If you do it now, you know if there is anything, you have a little bit more time to get it taken care of so that everything is nice and shiny when you go to make your offer.

- Okay. And it does make a little tick on their credit score, right?

- There's a couple different ways that lenders can pull your credit. And there's smoothness called a soft pull that doesn't show that tick on your credit. We pull from only one credit bureau when we do that so there could be something on the other two but usually not.

- Okay. Okay, good information. Thanks Barb. That is this week's Monday Morning Mortgage Tip. We'll be back next Monday. And as always, if you have a question for myself or Barb or anybody here, please let us know. Instant message us or whatever it takes. I'll have Barb's information on the top, on the bottom, on the sides, wherever your device allows you to see that. And as always please share or tag anybody else in this video or for this video that you think would benefit from it as well. We're here to help you guys. Have a great Monday, and we'll see ya next week.

- Bye.




Thinking of selling and/or moving to Brookings, Volga, or any surrounding areas? Got questions? I’m here to help! Visit BrookingsHomeTeam.com for more details! 

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