There are many things that can hold potential buyers back from buying a home. Many young people today have expensive student loan payments or damaged credit scores. Some don't have the money for a down payment and others are not ready to settle down in one place. No matter the obstacle you may face, we have some helpful tips and solutions to walk you through the process.
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Getting pre-approved is one of the most important steps in buying a home for a variety of reasons. By going through the mortgage process up-front, you will know exactly how much house you can afford. Getting pre-approved makes you "ready to buy" and will allow you to write a confident offer on a listing when you find one you want to purchase. It also prevents you from falling in love with a home you can't afford and can even give you leverage should you enter a multiple offer situation where you will compete with other buyers for the same home.
It's important to find the right REALTOR® at the beginning of the process. After all, you wouldn't go to court without a lawyer! Your REALTOR® will be there to walk you through every step of the way. They will work to find the right home for YOU and will negotiate on your behalf. Oh, and did we mention the paperwork? You will find that buying a home comes with loads of it and your REALTOR® will help you fill it out correctly. The best part is, as a buyer, it doesn't cost you anything. REALTORS® work on commission and will get paid out of the fees the seller pays to sell their home.
Find a REALTOR® right here.
This is undoubtedly the most fun part of the process, but at times it can be a little overwhelming and even a bit frustrating. Writing down a list of priorities in a home before you start looking can keep you focused during the search.
Find ideal first homes right here.
Once you have found "the house," you will want to write an offer quickly (this is another reason why it's important to be pre-approved!) Your REALTOR® will help you with all the details.
It is recommend you hire an inspector to point out any current (or future!) problems with the home. This can save you a lot of money and headaches later on. Certain loans may even require you to get an inspection.
Step 7: Closing
Once the closing is finalized, you will officially be a home-owner.
See more information at http://www.ownyourdream.me/