• HOME BUYERS •
One of the first-steps in beginning a successful search for a new home is taking a hard, objective look at finances. Determining how much money you can dedicate to the purchase of your new home affects every aspect of the home buying process including: which mortgage programs you will qulalify for, how we write the offer and which homes are truly in your price range.
We often get asked, "When is the right time to buy?"
Our answer, "When your finances are in order and you are thinking about it." If you wait for property values to drop, you risk acquiring higher interest rates. If you wait for interest rates to drop, you risk encountering higher property values... basics of supply and demand.
Other Things To Consider:
Get "Pre-Approved," not "Pre-Qualified," there is a difference!
This step is crucial after assessing your finances before starting your home search. This process helps you avoid buying less home than you can afford or being disappointed if you don't qualify for as much as you had hoped for. Also, it puts you in the best negotiating position possible with the seller.
Direct Lenders vs. Mortgage Brokers
Buyers may not be aware that when shopping around for a loan, hiring an experienced Mortgage Broker may be your best bet! The reason being, direct lenders (such as: Bank of America, Wells Fargo, Credit Unions, etc.) can only offer you the interest rates available at their establishments. Whereas, a Mortgage Broker can shop around with MANY lender establishments and give you more options. Also, because direct lenders want to maintain relationships with Mortgage Brokers for their business, they give brokers "Wholesale" interest rates ... that can then be passed on to you!
Although there are instances when dual representation (when agreed upon by both parties) are viable, your own representation is ALWAYS Best! It makes no sense not to have your own representation when purchasing a home - ESPECIALLY when the agent's commission is paid for by the seller. It costs you nothing to have someone looking out for your best interests and yours alone.
There are MANY other things to consider when buying a home...
We are here to help Guide and Educate you on the process.