Great Job Fortis Team !!!

We had our BEST MONTH EVER at Fortis Residential Realty with 26 Closed transaction sides.

  We helped 13 homebuyers and 13 homesellers, including successfully negotiating and closing 13 short sales.

  We also helped 21 families lease homes, and we now manage over 240 properties for our investors.

  We continue to grow and help people navigate through real estate deals in spite of the challenges in the market.

 

If you would like to be a part of the Fortis Team or would like help leasing, buying or selling a home, please call 702-982-8968 for more information.

436 Flores Cr Sold As Short Sale For $149,000!

Brittany Ippolito sold 436 Flores Cr as a short sale for $149,000. This home is approximately 2,177 sq ft and boasts four huge bedrooms and 3 bathrooms, and is located in Rancho Las Palmas Community. Gorgeous hardwood floors throughout downstairs. Large master bedroom with huge walk-in closet. A Family room located upstairs makes a great second living room or a game room. Gorgeous home and definitely a great sale!

 

Call Fortis Residential Realty at (702)982-8968 for information on how YOU can sell or buy a home!

How much Home can you afford?

House and Dollar Sign on ScaleA potential homebuyer should take a close look at income and expenses.  Lenders consider these two main items, as your maximum monthly mortgage payment should not exceed 28% of your gross (pre-tax) income, and your maximum debt load, including your mortgage payment should not exceed 36% of your gross income.  These ratios are very typical of those required to get a conventional mortgage.  There are several types of mortgages including FHA, VA, and other financing.  These vary in terms of interest rates, terms, and down payment requirements.

 

To figure out your monthly pretax income, add all of the money that you receive for the year.  These may include salary/wages, dividends, child support, alimony, rents, pensions, or retirement plans.  Then, divide by 12 for monthly pretax income.  Add all of your debt payments for each month.  These may include car payment, student loan, insurance, child support/alimony, and credit cards.

 

Multiply your pretax income by .28, and you will have the total that your monthly mortgage payment should not exceed.   Your maximum debt, with the mortgage payment, should be no more than 36% your expenses with the mortgage payment.

 

Credit will also determine the type of loan and interest rate that will be available.  A Lender that will process your mortgage application will verify your credit history.  So, it is a good idea to check your own credit rating at the beginning of your home search.  There may be issues in your credit history that you don’t know about.  Resolving any credit problems to improve your credit rating will provide benefits, such as better rates from lenders.  Getting your credit report is simple.

 

  • The Fair Credit Reporting Act allows consumers to get 1 free credit report from each of the 3 major reporting bureaus every 12 months.  Go to www.annualcreditreport.com – the only authorized source for consumers to access their annual credit report online for free.
 
  • The 3 major credit bureaus are:

Equifax                            Experian                                Trans Union Corporation

www.equifax.com           www.experian.com               www.transunion.com