Q: WHAT ARE THE FIRST STEPS OF THE HOME BUYING PROCESS?
A: The offer & The Mortgage Pre-Approval.
Q: HOW LONG DOES IT TAKE TO BUY A HOME?
A: Typically from 45 to 60 days
Q: WHAT DOES A REAL ESTATE AGENT DO?
A: A Real Estate Agent is your most valuable asset when buying a home.
They will walk you through every part of the home buying process.
Q: WHAT’S YOUR BEST ADVICE FOR FIRST-TIME HOMEBUYERS?
A: Trust the Professionals. Beware of advice from people who do not work in the industry.
Real estate is a popular topic and almost everyone feels like they have some great insight to offer.
Q: WHAT KIND OF CREDIT SCORE DO I NEED TO BUY A HOME?
A: A 620 credit score, or higher, is recommended. As you are probably aware, a higher credit score offers better lending terms.
Q: ARE THERE SPECIAL HOME BUYING PROGRAMS THAT I SHOULD KNOW ABOUT?
A: There are some great home buying programs to research. The main ones would be VA loans, USDA loans, and FHA loans & more.
Q: HOW MUCH MONEY DO I NEED FOR A DOWNPAYMENT?
A: It depends on your loan type. Usually a minimum of 3% to 5% down.
Q: WHAT OTHER FEES ARE THERE, BESIDES THE DOWNPAYMENT?
A: Mainly loan origination and closing costs. Constult with closing agent for final numbers.
Q: WHEN DO I GET THE KEYS?
A: Under normal circumstances, you will get the keys at the closing. A closing typically takes about an hour. In some cases,
the lender will need time to fund the loan and you will need to pick up the keys after the loan has been funded.
Q: CAN I BUY A HOME AND SELL MY CURRENT AT THE SAME TIME?
A: Yes you can, however it is not recomended due to time frames and closing dates.
Q: SHOULD I GET A HOME INSPECTION BEFORE BUYING?
A: While buyers often wonder if a home inspection is truly necessary, most Real Estate Agents unequivocally say yes, yes, and yes.
You don't want to buy a house just to later find out it has mold, do you?