Ready to become a home owner?

Are you tired of rent increases and paying so much of your income to Uncle Sam?

Did you know that many people in this area have found that buying a home can cost less than paying rent?

Wouldn’t it be nice to get a big tax refund next April?

Owning a home is the American Dream. It’s also the largest investment most of us will ever make, so it’s important to know what’s required.

Start by talking with a mortgage lender

Unless you have saved enough money to pay cash for your home you will need to get a mortgage. Most Realtors won’t show property unless you are pre-approved.  And when it’s time to make an offer, this step will make your offer stronger.  So the first thing to do is speak with a lender, a professional who can ask a few questions and tell you if you qualify, how much home you can afford, how much your monthly payments will be and other things that will help you make smart decisions.

How much money will you need to buy?

Your monthly payment will include principal, interest, taxes and insurance. A big down payment will lower your monthly payments and help you avoid private mortgage insurance, but it is possible to buy a home for almost nothing down. Buying a home also requires closing costs. Examples include the costs of a home inspection and appraisal. Your mortgage lender can explain all of this and answer your questions.

A decent credit record.

If you have a lot of late payments, have declared bankruptcy or left old debts unpaid, it’s harder to get a mortgage.  And if you do get one, your bad credit record will make you pay a much higher interest rate.  One of the first things your lender will do is run your credit report.  It’s free and doesn’t take much time. You will have a better idea of where you stand.

Shopping for your next home

Once you are pre-approved and committed to moving forward, it’s time to meet with your Realtor to share your “must-haves.”  Location is often the most important consideration. Choose the city or neighborhood that meets your needs for commute time, schools, shopping and quality of life.  Next, settle on the style of home that you need.  One story, two stories, number of bedrooms, size of garage, back yard, fenced?

Your Realtor will show you the homes that match your criteria. Before you know it you’ll be ready to make an offer.

Call today!  We’re here to help.