Buying a home is an exciting but often overwhelming experience, particularly if you are buying your first home. As your REALTOR®, I can help you through the home buying process and assure that you find the right home for you and your budget.
Every homebuyer has a number of concerns, all of which I can help you with:
Setting a Time Frame
There are a lot of variables in the home-buying process, which means the time it takes to find and buy your new home varies too. A typical home search process may take three to four months, including the mortgage approval process, comparing and evaluating properties, making an offer and the closing process. The loan process typically takes a minimum of 30-45 days.
The Lending Process
Perhaps one of the most intimidating aspects of buying a home is the mortgage approval process. I'm here to help guide you through this, but there are many ways you can prepare early to make the process smoother. Start by making sure your budget is under control--make a list of all your monthly expenses, compare it with your income, and see if adjustments need to be made. You should also try to pay off small credit card balances.
To make an offer, sellers want to see a pre-approval letter from your lender. Start gathering the documents you may need, such as W-2 forms, income tax returns for the past few years, pay stubs, records of child support or alimony, bank statements for the past several months, and your credit report. With this information, your lender can determine how much house you can afford. Also, be sure to allow for closing costs. You may want to compare results from different lenders. I work with a number of lenders who can assist you so feel free to contact me for referrals
Determining How Much You Can Afford
Click here to use this easy mortgage calculator to get an estimate of monthly payments.
Finding a Home That Meets Your Needs and Wants
Before you start looking at properties, make a list of "must-have" features along with optional features you'd like to have.
"Must-have" features may include:
- the number of bedrooms and bathrooms you'll need to accommodate your family
- location (consider commute to work, schools your children will attend, etc.)
- special requirements (central AC, access to public transportation, etc.)
Optional features may include:
- the architectural styling
Having a clear idea of what you want in a home will help me find the best property for your lifestyle. Educating yourself about the home-buying process is key to getting a home you love and can afford. As your realtor/coach, I am here to answer any questions you might have and guide you through this process.