Purchasing a home is one of the biggest investments you can make. Most people purchasing a home for the first time have a rough idea, but often they are confused about certain details or just don't know where to begin. Some buyers feel they don't have adequate credit. Other buyers feel they don't have adequate income and still others are unsure what type of down-payment they need.
Purchasing a home is a big step. One of the biggest decisions in your life. Our purpose is to guide you through the process and help you over any bumps that may be in your path along the way.
- Down-payment and Finances – Unless you are a cash buyer you will need to have a source of income. It must be stable. You will also need cash for a down-payment. If it is a cash purchase there are certain requirements related to the source of the cash. There are some excellent first time home buyer programs that may dramatically reduce the cash required to purchase a home at the time of this posting. Contact us to get you in touch with our mortgage broker for a free analysis of your situation.
- What is Your Credit Score? – Our financing specialist will review your debt, credit score and credit limit FREE OF CHARGE! Do you have a credit history? Not having any credit can actually be detrimental to purchasing a home. Having established credit is important to show a lender a history of responsible credit use. Depending on the lender and program you can purchase a home with a credit score in the 600's. Contact us to get a free analysis.
- Special Programs – You need to find someone to lend you money. Are you looking at rural homes? Are you a firefighter, teacher, police officer? Are you a doctor? First time home buyer? These and other programs are available for you! New programs are being created on a regular basis.
- Obtaining Pre-approval - You need to know how much home you can afford BEFORE you start to seriously look for a home. On a regular basis clients will start looking in the $300,000 plus range and after finding their dream home they discover they can only afford $250k. You can still find a beautiful home, but what a disappointment. Pre-approval is FREE! You may also be able to comfortably afford a home that is larger or in better condition than you had thought you could purchase. Let's arrange a meeting with our lender!
- Find a Real Estate Agent – Working with a real estate agent you can trust is very important. You need an agent that can help you evaluate all of the information that is out there. The most effective method of searching for a home is to have someone pre-screen homes for you. Then tour homes that meet your criteria. Arrange several days to view multiple homes so that you can compare the pros and cons of each property. You need someone to negotiate your purchase and complete all of the paperwork. Your agent should help with arranging inspections, finding a lender, working with the title company, writing the Purchase Agreement and all other related paperwork. Let us tie up those loose ends so they don't come back to bite you.
Are you ready to start the process? It's never too early to get an initial evaluation of your finances and credit. This creates a baseline for you to work from. You can also have us set-up your initial search directly from the Multiple listing service in your area. We are members of two MLS covering all of Northern Ohio. Start with a general search and then gradually narrow the criteria until you are viewing property that matches your "Dream" list of "Needs and Wants".
Contact me today for an initial consultation. My team can help you achieve your dreams!
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