READY TO BUY YOUR NEXT HOME?
Buying a House Doesn’t Have to Be SCARY! Purchasing a house is a big commitment and can seem very intimidating especially to first time homebuyers.
TYPES OF LOANS
Adjustable Rate
Mortgage Adjustable rate mortgages have an interest rate that is adjusted at certain intervals based on a specific index during the life of the loan.Balloon Payment Loan
A fixed rate loan that is amortized over 30 years but becomes due and payable at the end of a certain term. May be extendible or may roll-over into another type of loan.Conventional Loan
Conventional loans are sometimes more lenient with the appraisal and condition of the property. When you are buying a “fixer upper” you may need to use a conventional loan. Homes purchased above the FHA loan limit are usually financed with conventional loans.FHA Loans
FHA loans are insured by the Federal Housing Administration under H.U.D. They offer a low down payment and are easier to qualify for than conventional loans.Fixed Rate Loan
A fixed rate loan has one interest rate that remains constant throughout the life of the loan.VA Loan
VA loans are guaranteed by the Veterans Administration. A veteran must have served 180 days active service.Ready to Buy Your Next Home? Free Consultation.
FAQ
Selling or Buying Your HOME
Selling or Buying your home without a plan will end up costing you emotionally and financially. Therefore, find a Realtor you can trust. They are responsible for aggressively marketing your home, equipping you with the knowledge you need to make informed decisions, negotiating your deal, and guarding your interests.What the first step of the home buying process?
Can you get qualified. Talk to the mortgage lender. If you don’t know anyone, talk to the Realtor or real estate agent. The professional real estate agent has more connection and will recommend you to the great lender.
What is a seller's market?
A seller’s market arises when demand exceeds supply. In other words, there are many interested buyers, but the inventory is low. Since there are fewer homes available, sellers are at an advantage. Homes sell faster, and buyers must compete with each other in order to get a property.
What is a First Time Buyer Program?
There are many first-time homebuyer programs and grants available to help you afford your first real estate purchase, generally assisting with the down payment and closing costs.
How long does it take to buy a home?
On average, a homebuyer can spend a few days to go through the initial pre-approval process, anywhere from a few weeks to a few months shopping for the right home, and 30 to 45 days to close the deal.
What is a buyer's market?
A buyer’s market refers to a situation in which supply exceeds demand, giving purchasers an advantage over sellers in price negotiations.
What kind of credit score do I need to buy a home?
The minimum credit score you need to qualify for a mortgage depends on the type of mortgage you’re trying to obtain. Reach out to your lender. If you don’t know anyone, talk to the Realtor or real estate agent. The professional real estate agent has more connection and will recommend you to the great lender.
This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. All information contained herein is only for purposes of information, and should be independently verified by the user.