BUYING A HOME 

Whether you are a first time homebuyer or an experienced buyer, our Realtors® take finding you a home seriously.  They listen to your real estate needs and find you a home based on:        

• Price range preferred
•  Area of your choice
•  Existing home or new construction
•  Style of home you want
•  Extras you would like
•  Down payment and monthly payment preferred

Our Realtors® will also:  

•  Get you in touch with a mortgage lender      
•   Show you houses that are available within your guideline
•    Explain your rights
•    Help you determine a fair offer
•   Explain the benefits of working with an experienced Realtor®
•  Explain “pre-approved” and “pre-qualified”

PRE-QUALIFIED VERSUS PRE-APPROVAL

Pre-qualification is a simple verbal application that the lender has not verified.  Things  like judgments, alimony payment and glitches in the credit report can show up between getting pre-qualified and getting pre-approved.

Pre-approval is a letter stating approval for a mortgage. Your lender will provide you

with a pre-approval letter after verifying the income and account information you

provided.

PRE-APPROVAL offers you:

• Peace of mind knowing your mortgage approval amount
• Pre-approval greatly increases your negotiating position with a seller, especially in a “sellers’ market”, where the number of homes available is limited.
• A pre-approval letter lets the seller know you are a serious buyer
• Motivated sellers like a pre-approved buyer because they can close on a property quicker

HOW DO I FIND A LENDER?

Realtors® can provide you with a list of names of lenders from several mortgage companies. It’s ok to interview a lender.  Ask questions like how long have they have been in the business of providing loans, how long have they been with the present company, how many loans have they closed, how long does it take to process a loan, what loans do you have available AND how much will it cost me to get a loan (closing costs). You should be able to tell from your telephone conversations if that person is someone you want to meet and talk further with about a home loan for you.

HOW DO I APPLY FOR A MORTGAGE?      

After you have chosen a lender you feel comfortable working with, you will need to provide information regarding your income, expenses and obligations. Our office or your lender can provide you with a full list of items you will need to have available. If you do have blemishes on your credit, some lenders will work with you to find a solution.

KNOW YOUR RIGHTS

It is very important you understand all the details of your real estate contract.  They are legally binding documents and should be reviewed carefully with your agent. TAKE THE TIME TO READ THROUGH THEM.