Frequently asked questions
Where to get started?
Your first step in buying a home is to fully get an idea of what your finances are. Buying a home requires that you get a firm handle on your finances, gathering supporting documents and answering a handful of questions
1. What is your gross income?
2. How much do you have in savings?
3. What is your credit score?
4. How much is your current expenses?
Understanding what you can afford?
Now that you have determined your overall income and finances. It is highly recommended that you now search for your lender/loan officer to get a loan estimate on how much you can afford when finding the right home.
Lenders look closely at your credit score, total savings, gross income, and monthly expenses to give you the funds for your mortgage.
What loan programs are available to me?
Lenders offer many loan programs to homebuyers. Based on your overall finances. Lenders can offer the best loan program that fits your specific needs.
Talk with a few lenders to get the best loan program that fits you..
My offer got accepted?
Now, that you made an offer on a home, and the seller accepted your offer! Then the process with your mortgage lender begins, be prepared to resubmit documents to receive the final approval for your home loan form the lender.
How to find the right team?
As you set yourself to find the right home for your family. It is imperative to select trusted, well-informed professionals who will help you make educated decisions and avoid pitfalls such as finding a real estate agent, lenders, attorneys, inspectors, title representative.
How do you find reputable, experienced team members? Start by asking your colleagues, family and friends for referrals.
When can I look at homes?
Once a potential homebuyer has connected with a lender/bank to understand what their budget is, you can then begin to work with a real estate agent to look at home and rely on their knowledge to guide you the way.
I found the right home, now what?
You found the perfect home that suits you and your family, you will want to discuss with your real estate agent, the price that you would like to buy the home and making sure the price that is offered matches with the “comps” of that area.
