Home buying is probably the biggest financial commitment you’ll ever make. Buying a home is not just a dollars-and-cents investment; it’s an investment in your life. It will create a sense of stability and identity for you and your family. Regardless of how times change, owning a home remains the cornerstone of the American dream.
With every rent check you write, you’re helping to build equity in your landlord’s property. That money could be going towards building equity in a home of your own. Today’s rates are low enough that your house payment could be lower than your rent payment!
Most people start on the road to financial independence through home ownership. Your principal and interest payments remain the same for the full term of your mortgage while your rent usually goes up as the cost of living increases.
Before you go out looking for a home, you can get an idea of what you can afford by using our mortgage calculator.
One thing to consider is your down payment amount,. Think you can’t buy a house without a 10% or 20% down payment? Thanks to FHA loan products, many people can now get into a house for as little as 3% down. There are even some special programs for first-time buyers that help with closing costs.
If you are looking at condominiums, you can check to see if the community qualifies for FHA loans here.
Pre-qualification is just a guesstimate of how much you could afford. But with a pre-approval, it’s just that: getting your mortgage approved prior to going out and looking for a new home.
Your loan officer will show you which items you should bring to apply so neither of you will need to wait for various written income, asset and liability information. So you could get a loan decision in just days. And when you apply online, you can get your approval quickly!
Sure, you can do your home search by yourself and probably already have to some extent. Buy, why should you? With an experienced Trusted Realty Group professional at your side, finding the perfect home is easier, faster, and a lot more fun. A good Realtor® can show you more suitable properties, offer valuable advice, and coach you through the entire home buying process. And you’ll save time. Yet many buyers still spend endless hours poring through classified ads, driving all over town, and viewing dozens of unsuitable properties – simply because they haven’t connected with a Realtor®.
Some people think that if they have several agents looking for homes on their behalf, they’ll find a house more quickly. Like most relationships, the buyer-agent relationship thrives on communication, loyalty and trust. By working exclusively with one agent, you’ll improve both the process and the results.
The best part of all, as a buyer, you don’t pay a penny for our services!
Time for nervous anticipation. You’ve found the home you want, and your Trusted Realty Group Sales Professional says you need to act fast. Yet you want to be as calm and objective as possible. The expertise a Trusted Realty Group Sales Professional can give you at negotiating time is priceless.