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Posted by John Boey on 7/30/2017

When you make the decision to buy your first home, you should be certain that youíre ready to make the leap into homeownership. Thereís many different things that you should do as a buyer to get ready before you even set out on the search of a perfect home.


Choose An Agent


You may think that one real estate agent is the same as any real estate agent that youíll find. This is far from the truth. Some agents have certain specialties. The knowledge that an agent will bring to your house hunt is often invaluable. You are making one of the biggest purchases that youíll ever make in your lifetime. While many buyers think that they can simply do an online search themselves to find a home, your realtor will have many more resources to assist you in finding exactly what youíre looking for.


Figure Out The Financial Portion Of Buying A Home


While knowing how many bedrooms you need and where you hope to live is important, understanding your finances is even more important. Youíll need to talk to a lender to get the process started. After looking at your own personal budget, you should get pre-qualified. Getting pre-qualified allows you to see a general number of how much house you can afford. That can help you start the process, however, thereís still a few more steps. 


From here, you can do what needs to be done to get your entire financial picture ready to buy a home. This includes saving for a downpayment, improving your credit score, and continuing to keep up bill payments and consistent work history. 


Next, youíll want to get pre-approved. This allows your lender to dig into your financial picture. Everything from your credit score to your income and employment history will be considered. Your lender will then give you a more definitive number of how much youíll actually be able to get for a loan when you buy a home. To get pre-approved, be prepared with 1099 forms, pay stubs, tax returns, and bank statements. Youíll then have the concrete amount that youíre approved for along with the interest rate that you qualify for. 


Once You Have Applied For A Home Loan


Once you find the realtor to assist you and secure the home of your dreams, youíre not free to head out and buy all the furniture that you need to fill up your house. The home loan must go through the underwriting process and until that is complete, your finances are essentially on lockdown. If you start opening new credit cards, decide to buy a car, or fall behind on payments, you could end up in a lot of trouble. You want to keep your credit score stable throughout the process of buying a home for smooth sailing.





Posted by John Boey on 7/16/2017

When it comes to home buying a home, thereís a ton of different information available out there. A lot of what has been presented as ďfactĒ actually is quite false. These misconceptions could keep you away from achieving the very real dream of home ownership. Below, youíll find some of the most common myths that youíll find about home buying.


If Your Credit Score Isnít Up To Par, You Canít Buy


To get good mortgage rates, having a good credit score doesnít hurt. You can still buy a home if you donít have amazing credit. A low credit score means that your mortgage rates will be higher than the average. There are loans like FHA loans, that allow for you to get a loan with a credit score as low as 580. Donít let a lower credit score discourage you from buying a home. If your credit score is low, there are plenty of things that you can do to help you fix the score in a short period of time.  


You Need 20 Percent Down To Buy A Home


This is a long-standing myth about home buying. While putting down 20 percent on a home purchase saves you the extra expense of Private Mortgage Insurance (PMI), you can still be in the running to buy a home if your down payment is less than 20 percent. There are even some home loan programs that allow buyers to put as little as 0-3 percent down for the purchase of their home.


You Have To Make A Lot Of Money To Buy A Home


Your monthly income is one of many aspects of your financial life thatís considered when youíre buying a home. Home loans can be denied to those who make a large income just as easily as to those who have lower incomes. What matters is the debt-to-income ratio, which tells lenders how much debt a buyer has compared to the amount of income the buyer makes each and every month. Keep your debt down, and youíll be in good shape to buy a home. 


You Donít Need To Be Pre-Approved To Get A House


Being pre-approved gives you an upper hand in the home buying process. Being pre-approved allows your lender and you to go through the entire process of getting a mortgage. When you find a home that you love, youíre able to breeze through the process of making an offer if youíre pre-approved. The pre-approval process is one of the most important aspects of buying a home. 


If youíre prepared with knowledge, buying a home isnít such a daunting process after all. Find a realtor you trust, understand your finances, and the rest will fall into place!




Tags: Buying a home   finances  
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Posted by John Boey on 6/25/2017

The summer real estate season provides a valuable opportunity for homebuyers across the United States. And with the right homebuying strategy, you should have no trouble securing your dream home at a price that fits your budget.

What does it take to discover a wonderful home in summer? Here are three tips to help you purchase a great home during the warmest months of the year:

1. Know What You Want from Your Dream Home

Although you may allocate substantial time and resources to browse the real estate market, your best efforts may not be enough to find your dream residence. As such, you'll want to go above and beyond the call of duty to transform your homeownership dream into a reality.

Make a checklist of must-haves for your dream residence before you browse homes that are available in summer. By doing so, you'll be able to better understand what you want from your dream house and plan accordingly.

In addition, getting pre-approved for a mortgage usually is an excellent idea. With pre-approval, you'll know exactly how much you can spend to acquire your dream house.

2. Take Advantage of Vacations and Long Weekends

For many people, summertime offers extended breaks from the hustle and bustle of day-to-day life. Meanwhile, homebuyers who take advantage of extra time may be able to commit additional resources to complete their search for the perfect house.

Summer vacations and long weekends can be a time to relax. However, if you have time to spare, feel free to browse the real estate market. By doing so, you can check out a broad array of houses and even set up home showings at your convenience.

When it comes to checking out homes in summer, don't forget to enjoy the beautiful weather, either. For example, if you spend an afternoon viewing homes, you may want to reward yourself with a trip to the amusement park in the evening. Or, if you're checking out a home that is located near a beach, feel free to plan a beach trip after the home showing is finished.

3. Hire an Experienced Real Estate Agent

Navigating the real estate market may seem impossible at times, particularly during summer. Fortunately, hiring an experienced real estate agent ensures that you can streamline the process of securing your dream residence.

An experienced real estate agent understands the ins and outs of the housing market and will do whatever he or she can to help you find a terrific home. This real estate professional can offer information about home listings in your area and set up times to view houses. Plus, your real estate agent will be able to respond to your homebuying concerns or questions at any time.

Employ an experienced real estate agent to take the guesswork out of acquiring a home in summer Ė you'll be happy you did. With support from an experienced real estate agent, you can explore a vast array of houses and find one that suits you perfectly.




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Posted by John Boey on 6/18/2017

Purchasing a residence can be quick and simple, particularly for those who know the ins and outs of the housing market.

At first, navigating the real estate market may seem impossible. Fortunately, homebuyers who consider the right questions before they browse residences can streamline the process of acquiring a house.

There are many key questions for homebuyers to consider prior to entering the housing market, including:

1. Where Do I Want to Live?

When it comes to the real estate market, it is all about location. Thus, you'll want to consider where you want to live and plan accordingly.

For example, if you enjoy the city life, you may want to purchase a house in a major metropolitan area. Or, if you prefer quiet country living, you might pursue houses in small towns.

Consider your current and future living situations as well. If you want to work in a particular city or town, you may want to purchase a nearby home. Or, if you plan to have children in the future, you may want to consider properties near schools.

2. How Much Can I Afford?

Unfortunately, bad credit may hinder your chances of securing your ideal residence. But if you know your credit score, you can work to improve it prior to searching for a house.

You are entitled to a free copy of your credit report annually from each of the three reporting agencies (Experian, TransUnion and Equifax). Request a free copy of your credit report, and you can learn your credit score and find out how it may affect your ability to buy a home.

Also, getting pre-approved for a mortgage may make it easy for you to secure a house that matches your budget. With a mortgage in hand, you'll be able to browse homes within a set price range and find one that you can enjoy for years to come.

3. How Do I Get Started?

Let's face it Ė the real estate market can be complex, but there are many ways to simplify the process of obtaining the perfect residence.

First, create a list of must-haves for your residence. This list will help you narrow your search and determine exactly what you'd like to find in a dream home.

Don't forget to work with an experienced real estate agent, either. This real estate professional can offer support in many areas and ensure that you can explore a wide range of houses at your convenience.

Your real estate agent will help you set up home showings, submit offers on houses and handle negotiations with home sellers. Plus, if you ever have homebuying concerns or questions, your real estate agent will be ready to respond to your queries immediately.

Employing a real estate agent enables you to get your home search started on the right foot. With a real estate agent at your disposal, you can learn about all aspects of the homebuying process. And as a result, you can streamline the homebuying process and find your dream home quickly and effortlessly.




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Posted by John Boey on 5/7/2017

Launching a search for your next home can be a daunting prospect -- especially if you're a first-time home buyer. It's not only a life-changing decision that will have "ripple effects" for years to come, but it's also one of the largest financial commitments you'll every make. So there is a little "pressure" associated with this choice!

The good news is that once you're approved for a mortgage and you know what you want (and can afford) in your next home, then the actual searching part should be a "piece of cake!" Well, as you can imagine, things can and sometimes DO go wrong along the way, but there are effective strategies for simplifying the process and increasing the probability that you'll be delighted with the house you finally close on.

Identify Your Priorities

Knowing what your priorities are and being familiar with all the different features you'll need to evaluate are the first steps to a successful house-hunting campaign. Your real estate agent can be enormously helpful in asking you the right questions, pinpointing your preferences, and guiding you toward the house that will offer the best combination of features, qualities, and characteristics.

Rarely will you find the property that is absolutely perfect in every imaginable way, but when you're clear about the important things you're not willing to compromise on, your final choice is bound to be one that fulfills your requirements and makes you happy! Also keep in mind that once you're the owner, you can customize, decorate, and landscape that home to become whatever you want it to be. Perhaps the only two things that are set in stone are the location and the proximity of the house to neighbors.

I don't know whether this saying has been attributed to any particular person, but it contains a lot of truth about achieving goals, attaining happiness, and finding the home of your dreams: "If you don't know exactly what you want, it's highly unlikely you're going to find it!" That holds true whether you're looking for the ideal job, home, or life partner.

So the question is "How can you zero in on what you need, want, and would find the most satisfying in a house?" Your real estate agent can help you create a priority list or provide you with a boilerplate list that you can work from. If you haven't chosen an agent yet, there is a free home-buying checklist available from U.S. Department of Housing and Urban Development.

There are literally dozens of items you'll factor into your home-buying decision, including the square footage, the quality of the neighborhood, the number of bathrooms and bedrooms, the condition of the roof, electrical, and mechanical systems, the size of the backyard, proximity to neighbors, and whether it's conveniently located near supermarkets, medical offices, parks, recreation, good schools, transportation, highways, entertainment, shopping, and much more. The bottom line is this: When you're organized, focused, and clear about what you're looking for in a new home, you're well positioned for a successful outcome!




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