Your real estate agent will assist you in making an offer, which will include the following information: Complete legal description of the property Amount of earnest money Down payment and financing details Proposed move-in date Price you are offering Proposed closing date Length of time the offer is valid Details of the deal Remember that […]
Pre-qualification is an informal way to see how much you maybe able to borrow. You can be ‘pre-qualified’ over the phone with no paperwork by telling a lender your income, your long-term debts, and how large a down payment you can afford. Without any obligation, this helps you arrive at a ballpark figure of the
4B/2B — four bedrooms and two bathrooms. “Bedroom” usually means a sleeping area with a window and a closet, but the definition varies in different places. A “full bathroom” is a room with a toilet, a sink and a bathtub. A “three-quarter bathroom” has a toilet, a sink and a shower. A “half bathroom” or
Creating a Wish List on paper will help you decide which home you should buy! There are many things to consider when thinking of your new home and making a wish list. You can create check boxes to help you weed out the less than satisfactory homes. Be sure to prioritize your list so that
Using a real estate agent is a very good idea. All the details involved in home buying, particularly the financial ones, can be mind-boggling. A good real estate professional can guide you through the entire process and make the experience much easier. A real estate broker will be well-acquainted with all the important things you’ll
Start by thinking about your situation. Are you ready to buy a home? How much can you afford in a monthly mortgage payment (see Question 4 for help)? How much space do you need? What areas of town do you like? After you answer these questions, make a “To Do” list and start doing casual
Know Your Rights as a Homebuyer Before you start, there are many laws that protect you from scams, unnecessary expenses, and discrimination in the process of homebuying. Know your rights! Find out How Much Mortgage Can You Afford You can save yourself a lot of wheel-spinning if you take a minute to figure out how
Buying your first home can be scary, but if you follow these tips, you will do just fine! Look at as many homes as possible to get a better feel for ones available in your price range. Keep track of what you like and dislike about each home that you visit by printing and using
If you have ever applied for a charge card, student loan, or other kinds of credit, you probably have a credit report (or credit profile). Credit reporting agencies collect and organize information about you and your repayment history, and make it available to those who are considering granting you credit. Landlords, employers, government licensing agencies,
Home loans can be available from several types of lenders–thrift institutions, mortgage companies, commercial banks, and credit unions. Various lenders may quote you different prices, so you should contact several lenders to make sure you’re getting the best price. You can also get a home loan through a mortgage broker. Brokers set up transactions rather
