In today’s housing market, it is more important than ever to be prepared when beginning the home buying process. This guide is full of information that is useful to know when searching for a home.
Step 1: Financing
One of the most important steps is making sure you are pre-qualified for a loan. At the beginning of your home-buying journey, meet with a lender. Lenders can check your credit score, amongst other things, and write you a preapproval letter. This letter is extremely important, as it is often the first thing any realtor will ask for when contacted by a potential buyer.
There are various ways to finance a home. One of the most common options is a conventional loan. These loans are not guaranteed by the government, however, they often only require a down payment of 3%. The next type of loan is an FHA loan. These are insured by the Federal Housing Administration and allow down payments of only 3.5%. A third type of loan is a VA loan. These loans are guaranteed by the Department of Veteran Affairs and are available to current and veteran military service members. There is usually no down payment required by VA loans. Additionally, paying in cash is a way to finance your future home. In today’s market, cash is the most competitive form of payment and is often the hardest for sellers to turn down. If you’re able to make a cash offer, it may help the deal close sooner!
Step 2: Find an Agent
Obtaining a good agent is one of the most beneficial things you can do during the home buying process. As a boutique agency, our culture is centered on customer service. We strive to provide you with a personalized experience and want to help you find your dream home! All of our agents are very skilled and are personally dedicated to helping each of their clients. Our team is here for you and wants to make your experience as enjoyable as possible!
Step 3: Prepare Your Best Offer
Once you’ve located your dream home, it’s time to make an offer! Our agents are trained to help you make the best offer possible. Our Town Realty agents use multiple resources in order to provide our clients with trustworthy advice. We will also negotiate with the seller on your behalf, and our goal is to get you the best deal!
With their expansive knowledge of both the industry and local area, our agents are ready to guide you throughout the entire home buying process and work hard to ensure your experience goes smoothly!
*Our Town Realty is not a financing authority.