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Consumer Question & Answers
Find a new home but
before starting, you will need to ask yourself a few questions:
What type of home
do you want?
Options include single-family homes, condominiums, co-ops and townhouses,
depending on your price range and your need for space and property.
What are your needs in a home?
How many bedrooms will you need? Will you need a garage or basement?
What are the Association guidelines, (if apply). What kind of schools are
in the area? What are the crime statistics. You should consider all of these
things and more before looking for a house.
Do you prefer a newly built home?
You may want the warranties and efficient construction of a newly
built home, as well as your ability to customize things. On the other hand,
you may find a good deal on a resale home, which may need to hire a handyman/contractor.
Will you use a real estate agent?
Many home buyers choose to work with a real estate agent to help
find a home. The agent should have knowledge of the real estate market,
price trends and neighborhood conditions in your area. The agent will help
you shop for your home, tour properties and be your negotiator when negotiating
How's your credit history?
Check your credit history before you apply for a mortgage and clear
up any delinquencies and errors. Having a good credit history will help
you save on your down payment, closing costs and most importantly the approval
What types of
documentation will you need?
Gather the necessary documentation and paperwork ahead of time.
This will save you a lot of stress and running back and forth. For a list
of paperwork see "Preparations".
What will you need from a bank or mortgage loan company?
Before you go looking for a home, you may want to consider getting
pre-qualified to reassure yourself that you will be financially able to
obtain a mortgage. Getting pre-qualified can give you a significant advantage
while youre shopping for a home. Pre-qualifying gives you the maximum
loan amount you can borrow and let's everyone know your a serious buyer!
When should you apply for a mortgage?
You can get a pre-qualified loan or when you have a firm agreement
with the seller to purchase a specific property. The pre-qualified loan
is the best way to go, you'll know just how much home you can afford before
you start looking. And finally, at the latest, 60-90 days prior to the date
you would like to move in. Lenders
from across the country are waiting to compete for your business! So apply
today and a mortgage professional in your state will contact you directly
to give you their best home mortgage loan quote offer! Stop searching from
bank to bank in search of the product that fits your needs or credit situation!
We can help you obtain your dream home!