As everyone will soon be telling you, this is the biggest financial move of your life, and we know finding that first home will only be as satisfying as the process to gain the mortgage that supports it.
Here are some of the areas in which we help first-timers:
HOW MUCH HOME WILL YOUR INCOME SUPPORT
Every aspect of your income, expenses, and taxes will be seriously examined by a lender, which must by law make sure you have an ongoing ability to repay a loan. Your income will be compared to your overall debt to arrive at a debt-to-income (DTI) ratio. In general, your DTI will be agreeable to a lender if it is 43% or less of your income.
Establishing the amount of a home loan for which you are qualified does two things for you: it shows the sellers of homes you are ready to make a solid deal, and it spells out for you just home much home you can purchase. I am very familiar with mortgage loans and can assist you in examining your credit record for any errors.
THE COSTS INVOLVED WITH PURCHASE
Beyond the price you agree to pay for the home you chose, there are two major cost factors involved in a home transaction; the cost of the mortgage loan and the expenses involved in closing the deal. There will be fees for the creation of the loan, and possibly those needed if you elect to lock in a lower interest rate.
WHAT DO YOU WANT (AND WHERE DO YOU WANT IT)?
For some, these questions will be reversed: where do you want to live and what will you accept that's already there? The point is there are scores of factors you can use, from number of bedrooms to age of the water heater, to create the criteria against which you will compare a number of homes. Other criteria will come from the questions that arise when you relocate, such as how much of a commute to work do you want to endure? How important are nearby schools? Will you need a garage?
READY TO SEARCH
Once you have a solid concept of what would be the best home for you, described by the criteria you have developed, and a price range backed by prequalification, it's time to make ready for fieldwork. Be prepared to spend time visiting the neighborhoods of the homes you find online, before you try to individually visit all the homes on your initial prospect list. I will help you take advantage of any open house hours established for any of the homes in which you take interest. I will also arrange the personal tours you'll need to select a home to buy from the final two or three prospects at which you arrive.
ENGAGE YOUR BROKER
For over 30 years, I have advised and assisted hundreds of clients with their home selling and buying needs. My wide experience enables our clients to achieve a level of trust and confidence that comes from knowing a single source is always ready to provide answers to any aspect of their unique home selling and purchase concerns. My proven winning game plan is simple: provide the information clients need to make decisions required to purchase a home. The plan starts with learning your background and your criteria in a target home. Your understanding of the strengths and any weaknesses in your situation is paramount, so I take the time to assist you in grasping all the factors involved. Integra helps map the path to the selection of your future home.
I strive to invest in our relationship with a client as one would with family, to provide a superior level of service and accountability. I invest 100% of my time serving your real estate needs. My goal is to have clients as delighted with my service as they are with their new home.
CONTACT ME anytime to learn more about buying your first home.