Three of the Five Simple Things You Need To Know To Make The Home Buying Process Easier
In reality, there are only five things you need to know and do to make your home buying experience as simple as possible.
1. Get pre-approved for your loan.
If possible, get “pre-approved” for a loan in the amount you’re willing to borrow.
With this pre-approval, you’re in a stronger position to buy a home when you’re ready – rather than finding your dream home, only to lose it to another buyer because you were waiting on the approval.
2. Find a great real estate consultant.
Once you’ve decided to buy a home, find a great real estate consultant. What you’re looking for is a Buyer’s Agent.
This means that the consultant represents YOU as the buyer, rather than the person selling the home.
They will have YOUR best interests at heart. Really good consultants know their markets, and will help you find the best match for your needs and wants.
They can also recommend mortgage brokers with whom they’ve worked in the past.
3. Look before you leap.
Drive around the neighborhood at different times of day. Get out and walk around and chat with neighbors. Some people like friendly neighbors, others think of them as nosy.
Drive to the local grocery store, laundry, anywhere that you frequent.
Visit nearby schools and see for yourself how the kids behave and how the grounds look. The point is to see if this is really the type of neighborhood you want to live in BEFORE you make an offer. (continued)
Secret Tips For Smart Buyers :
Two of Four Important Questions To Ask Your Mortgage Lender Before You Sign Any Of Their Documents...
1. Do you have a variety of loan programs to fit my cash flow and expected length of ownership needs?
If you’re going to live in your new home for less than five years, you may want to consider an adjustable rate mortgage or “ARM.”
With an ARM your payments will be lower, but they will go up according to the terms of the loan.
If you’re going to live in your new home for over five years, a traditional fixed-rate mortgage may be a better plan.
2. Do you offer written mortgage pre-approvals, not just pre-qualifications?
A “pre-qualification” is usually a Lender’s opinion of your eligibility for a loan. (continued)
