There are hundreds of elements to consider throughout the home buying process. This resource will give you the information you need to make an educated and informed decision about what the next steps are in your search for a home.
This page contains links to many valuable articles that were provided specifically for first-time home buyers with an emphasis on teaching you the ins and outs of the complicated home buying process.
Most of the time, a successful experiences is based upon your trust in our knowledge of the real estate market and the transaction process. If you have specific questions to be answered, we are always just a phone call away.
It can be confusing, but it’s important that you know who owns your home when you secure financing against it, what a mortgage is, and what your options are when searching for the right mortgage.
Mortgage Approval Process
Your income, employment status, down payment amount and credit rating are all factors that lenders take into account when you apply for mortgage loan approval.
The loan officer that you choose to handle your lending needs will ask you some very important questions and will pre-qualify you prior to providing you with a pre-approval letter, which will come into play when you’ve found a house that you would like to purchase.
Preparedness is key to success. You will need to have all of the proper documents required by your lender ready to go at a moment’s notice. If you are prepared, the time you spend with your loan officer will be much more productive and will reduce the amount of turbulence that can be experienced throughout the process.
Understanding Your Credit
Your history of borrowing and paying back money will determine your credit score and thus your eligibility for specific products offered by lenders. Knowing your credit score in advance will help you prepare.
The total amount that you pay every month for housing is not always made up of only your principle and interest to the lender. You will have insurance, taxes, home warranties, HOA Dues in some cases, and other various fees that may apply depending on the community in which you choose to live.
When you calculate how much you can afford every month, you need to work these numbers into your calculation to help determine affordability.
Mortgage rates fluctuate throughout the day, every day, and are influenced by forces beyond the loan officer’s control. Whether or not you’re getting the best deal lies heavily on your level of trust of the lender you’ve chosen.