When Buying Your Home:
The process of searching for the right home, negotiating the contract, financing, closing and moving can be very complex and stressful - especially the first time around. Having an experienced On The HomeFront (OTHF) agent can certainly ease the task.
In an initial consultation, he or she can help you determine the price range, size, style, features, location and age of a home that best suits your needs. With expertise we will answer questions you may have about loan qualification, closing costs and other issues.
Next, your agent will gather a list of all homes meeting your criteria, using the area's Multiple Listing Service, and arrange to show you the homes you wish to see.
When you are ready to make a purchase offer, your agent will present this to the sellers through their agent and help negotiate the final contract.
Finally, your agent will walk you through all the steps needed to complete the transaction, and you'll receive the keys to your new home!
Many of our agents say they take special delight in helping first-time buyers achieve their dream of home ownership. A number of our associates also are Accredited Buyers Representatives (ABR) - agents who have completed advanced courses and certification to assist buyers with their unique needs. Contact us for a list of OTHF agents who have earned the ABR designation.
Loan Qualification:
It is always a good idea to pre-qualify for a loan, but it's especially helpful for first-time home buyers. An initial consultation with a lender can help you determine the maximum mortgage and monthly payment for which you qualify, based upon the following factors:
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Gross annual income
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Amount of down payment
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Savings and investments
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Monthly debt
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Credit history
A Few Mortgage Basics:
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Average home payment is 30% of monthly income.
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The most common form of financing is a 30-year fixed-rate conventional loan.
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Minimum down payments vary from 0 - 20%, depending upon borrower's
qualifications and type of financing desired.
Your OTHF agent can assist you in finding a lender and loan to meet your needs.
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