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This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)
Groves Capital, Inc. (Mitsuko Miller)
Secure in accordance with your future plans ・ We will introduce you to a mortgage loan that will satisfy your needs. Peace of Mind
When buying a home please contact a loan company first.
Most people will first contact a real estate agent when buying a house.
Then they will ask, "Do you have a Pre-approval Letter?
In the U.S., when you buy real estate, when you make an offer to the seller （ the buyer proposes the asking price and other conditions to the seller ） with this document called Pre-approval Letter.
This will allow the buyer to "go talk to the loan company and prove that he/she is able to obtain a loan".
This is because the seller has decided to accept the asking price and other conditions proposed by the buyer （ and our offer has been accepted ）, but "we went to the bank and the loan was not approved" would be a waste of the seller's time.
Therefore, before contacting a real estate agent, it is ideal to contact a loan company （ bank or broker ） to confirm the loan amount, monthly repayment amount, etc., to choose the right program for you, and to find out what price you can afford to purchase. The ideal way to find out what price you can afford is to contact a bank or broker. This will make it more efficient for the real estate agent looking for the property.
Loan Arrangement to Purchase Process
1 Talk to a loan company
Talk to a loan company and get "Pre-approval" Easy communication via email or phone We will calculate your possible loan amount.
At this point, consultation ・ Estimate is free.
2 Find Real Estate
Find Real Estate Online （ Example ： Zillow ） Now you can find your desired property online yourself.
Some properties sell quickly, so it is more convenient to search for them yourself in a timely manner.
3 Consult a real estate agent
If you wish, we can introduce you to a reliable Japanese real estate agent. 4 Purchase
When you purchase, you will have to pay for loan procedures. Documents required for "Pre-approval"
・ Salary statements （ 2 copies ）
・ Bank Statement Bank statements （ 2 months
・ Tax Return tax forms （ 2 years ）
・ W-2 Forms Withholding Tax （ 2 years ）
・ Employment History
*If you live in Japan and do not have the documents If you live in Japan and do not have the necessary documents, you can still get a loan through the program for foreigners.
Other
Divorced, child support payments, down payment by gift （, down payment by gift ）,
outstanding car loan, outstanding student loan, etc. as shown by credit report
・ Salary statements （ 2 copies ）
・ Bank Statement Bank statements （ 2 months
・ Tax Return tax forms （ 2 years ）
・ W-2 Forms Withholding Tax （ 2 years ）
・ Employment History
*If you live in Japan and do not have the documents If you live in Japan and do not have the necessary documents, you can still get a loan through the program for foreigners.
Other
Divorced, child support payments, down payment by gift （, down payment by gift ）,
outstanding car loan, outstanding student loan, etc. as shown by credit report
You can easily apply for "Pre-approval" in other states or Japan.
Apply Now ➡ ＜ Apply Now ＞
For Japanese, email ・ Call us
<10767> 206-679-3371
Apply Now ➡ ＜ Apply Now ＞
For Japanese, email ・ Call us
<10767> 206-679-3371
Introduction to loan programs
All loans are designed to be 30, 25, 20, 15 and 10 years in length.
Consider choosing a program based on your intended use, even if your future income changes, how long you will live there, etc.
① Fixed rates ： Rates are fixed and determined.
② Variable interest rate ： 30-year loan. Fixed rate for the first 10, 7, or 5 years only, after which it replaces the variable rate.
Plans with rate review once a year or every 6 months.
③ Interest ・ Only （ Interest Only ） ： A loan where you only pay interest for the first years. The monthly repayment is less than that of a regular loan.
④ Jumbo Loan ： Ordinary Loan （ Conventional Loan℠) has a fixed maximum amount you can borrow. Any loan above that amount will be a Jumbo Loan and the rate will be lower now.
⑤ Loans available to VA ： Veterans （ Veteran ）. Zero down payment.
⑥ FHA ： Loan guaranteed by the U.S. Government （ Federal Housing Administration.
⑦ Reverse Mortgage ： A loan for seniors age 62 and older. Loan but no monthly payments. Only property taxes and fire insurance paid.
＼ We recommend that you consult with an expert and compare different options ／
Buying real estate is a big purchase. Sometimes you will know what you really want as you consult with us.
I think it is best to find a professional who listens and consults well.
Caution ！ Please be careful not to be swayed by immediate benefits such as "low rates" or "they pay closing costs".
Most ordinary loans （ Conventional Loans ） are almost all the same now, and the rates are almost the same for everyone.
Also, when they say they will pay the closing costs, it is not always free and we are always expected to pay our share somewhere.
Buying real estate is a big purchase. Sometimes you will know what you really want as you consult with us.
I think it is best to find a professional who listens and consults well.
Caution ！ Please be careful not to be swayed by immediate benefits such as "low rates" or "they pay closing costs".
Most ordinary loans （ Conventional Loans ） are almost all the same now, and the rates are almost the same for everyone.
Also, when they say they will pay the closing costs, it is not always free and we are always expected to pay our share somewhere.
Difference between banks and brokers
If you go to a big bank, they only have a standardized program. If you have no credit history, it is difficult with a bank.
If you go to a broker, they offer many programs that banks do not.
*If you are self-employed, the calculation of your income is different from a paycheck, so your broker will be very helpful in showing you various methods.
If you go to a big bank, they only have a standardized program. If you have no credit history, it is difficult with a bank.
If you go to a broker, they offer many programs that banks do not.
*If you are self-employed, the calculation of your income is different from a paycheck, so your broker will be very helpful in showing you various methods.
Groves Capital, Inc. offers both bank and broker programs.
We will help you choose the best plan for you by telling you the advantages and disadvantages of each ！
Secure in Old Age ！ What is Reverse Mortgage
Loan but no monthly repayment ＆ Pay only property taxes and fire insurance Loan for seniors over 62. You can repay the loan when you sell the property, so those with low income can purchase a home. This is a great option for those who are moving from a large home to a condo or other property after their children leave the nest.
% of amount you can borrow against the value of your home depending on your age （ As of October 2017 ）
Age 62 41.0%
Age 66 43.8%
Age 70 46.5%
Age 76 49.8%
80 years old 53.4%
86 years old 60.3%
97 years old or older 74.0%
Age 62 41.0%
Age 66 43.8%
Age 70 46.5%
Age 76 49.8%
80 years old 53.4%
86 years old 60.3%
97 years old or older 74.0%
For example … 76 years old moved as follows
◆Current home $ 500,000
◆Condo you want to buy $ 300,000
＜ If you buy in cash without a loan ＞
Amount remaining in your pocket $ 500,. 000- $ 300,000= $ 200,000
＜ With reverse mortgage ＞
◎49.8% mortgage can be made Condo price （ $ 300,000 ） about half of $ 150,000 to pay for $ 500,000- $ 150,000= $ 350,000
↓
$ 150, 000 extra in hand than if you bought with cash 000 more than if you bought with cash ！
You can use the money to repair your current home or move ！
～ 3 highlights about using a reverse mortgage ～
#1
#2 Problems can arise when you suddenly need cash when you least expect it, such as when you need a large sum of money for roof repairs, medical bills, or car repairs. With a regular loan, monthly payments begin, but with a reverse mortgage, no payments occur. This program was created so that seniors can use their homeownership and not have to worry about money problems.
#3 Increase your retirement income. We live in a world of fast-paced political and economic change. Even if you think you have a retirement plan in place, you can't help but feel uneasy when you think about the future. Recently, financial planners have begun to focus on reverse mortgages. In addition to Social Security, you can also use a reverse mortgage to generate, say, ＄ 1000 extra income each month. （ Unlike in the past, the FHA rules have improved and financial planners are now comfortable recommending this mortgage. The cost is now the same as a regular loan. ）
★ The reverse mortgage can be paid back when the condo is sold, so if the property has increased in value, the money may be reversed.
★ While you live there, you only pay property taxes and fire insurance and do not have to repay any loans.
★ We recommend starting after age 70 rather than 62.
In some cases, you may not need to use a reverse mortgage. We will work with you to find the best plan for your individual budget.
Mitsuko Miller
He has worked as a loan officer since 1993. Licensed in California, Oregon and Washington.
Has clients throughout the US and can respond to inquiries from Japan.
He regularly conducts free seminars in Seattle and Portland with real estate companies.
He says he wants to deliver accurate information because there have been cases in the past where Japanese people often lost money without understanding about loans.
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