First-Time Buyers

Pre-Qualification

Speak with a mortgage professional and find out how much you can afford to pay for a home. Most REALTORS® will require you to obtain your pre-qualification prior to touring any homes.

Pre-Approval

Knowing how much you can afford is the first step. Sellers are generally more receptive, even more so in a situation where multiple offers exist, when a potential buyer has been pre-approved. You will get a pre-approval after all of your information has been submitted and verified through your mortgage professional. Getting this pre-approval  relaxes sellers and lets them know that you are serious about purchasing the home. With a pre-approval, the buyer actually applies for a mortgage. Nominal fees can apply, but in most cases, the mortgage company will allow for you to pay them when your loan closes.

Create a list

I encourage you to make a list of your needs and wants. How  many bedrooms do you want/need? How many bathrooms both full and half baths? What heating source (gas, electric, heat pump, oil, etc.)? Close to public transportation or a garage? Rank those needs and desires in order of importance. Having this list will help narrow down the available homes that suits those needs.

Consider hiring a professional

Hiring a Realtor® is at no cost to you. Consider hiring someone who is working for you to ensure that your needs and best interest is protected. The home buying process can be a daunting task so it may be worth your time to interview several REALTORS® to see who you feel comfortable working with. Remember this, when you drive by a home and call the agent who has the home listed, that agent is working for the seller. We want to work for YOU!

Better Safe

Don’t be afraid to look at as many homes as possible in order to find the right home. Buying a home is an  emotional experience. Think what your head as well as your heart. Consider getting a home inspection by a professional home inspector. A couple of dollars spent in the beginning can save you a great expense in the future. Don’t be afraid to write an offer with a mortgage contingency as well as a home inspection contingency.

These are just a few suggestions to help make your home buying experience a pleasant one. For more information, please contact ”The R & E Team” at (888) 406-2955