Determining how much home you can afford is the first step to buying a home. We can help, by giving you the names of reputable lenders, if you do not have one. Ask your friends and associates if they were happy with their lender. It is important that you interview several mortgage lenders. We want you to look at homes that you will be comfortable in – emotionally and financially.
• Is your credit in order?
Obtain a copy of your credit report.
• Determine if you have enough saved to cover your down payment and closing costs.
Call us, we can explain what closing costs are and help you determine the best loan.
• Develop a wish list of what you would like in your home.
Then prioritize the features on your list and we will find your dream home. Remember,
no house is absolutely perfect. Focus on the things that are most important to you and
let the minor ones go.
• Drive around!
Select three or four neighborhoods you would like to live in. Consider items such as
schools, recreational facilities, area expansion plans, nearby shopping, and other
matters that are important to you.
• Get Pre-qualified.
Determine how large a mortgage you can qualify for. Explore different loans options and
decide what is best for you. Presenting an offer contingent on unresolved issues will
make your offer on a home to purchase much less attractive to sellers.
• Organize and gather the documentation a lender will need to pre-approve you for a
loan.
• Factor in maintenance and repair costs in your post-home buying budget.
Even if you buy a new home, there will be some costs. Don’t leave yourself short and let
your home deteriorate.
• Choose a home because you love it; then think about appreciation.
While U.S. homes prices appreciated an average of 5.4 percent annually from 1998 to
2002, a home’s most important role is as a comfortable place to live.
• Try not to second-guess the interest rates or the housing market by waiting to buy.
Changes don’t usually occur fast enough to make that much difference in price and a
good home will not stay on the market long.
• Mortgage payments let you build equity ownership interest in your home and building
equity in your home is a ready-made savings plan.
• Freedom! The home is yours.
You can decorate any way you want and be able to benefit from your investment for as
long as you own the home.
• Call us, experienced REALTORS who can help you through the process.
