HOME BUYING 1-2-3

1.  Get Lender Pre-Approval

The reason you want lender pre-approval is because you will know what your home searching flexibility will be. There are many new loans designed for today's market. It used to be that a 30-year fixed load was the best option for the majority of homeowners. Now, things have changed to allow for the changing market and home affordability. Here are a couple examples:

•  If you are planning to move within five years, you can get an "interest-only" loan (ARM). Your house payments will be lower, and you will use the equity in your home to assist you in your next purchase.

•  If you are a new Home buyer, you can now go with a 40-year loan. This will reduce your overall payments as your home gains equity.

2.  Find a Professional Realtor

The best part for the buyer is that the seller pays the Real Estate Agent Commissions for you, the buyer. So, in addition to not having to pay the Realtor, there are three major reasons you need a professional to assist you - Protection and Expertise.

•  With the laws constantly changing, there are a multitude of disclosure forms that are required. Most of these are a result of some lawsuit. Disclosures include items such as mold, lead-based paint, wood destroying pests, just to name a few.

•  Professional agents know the area and can help you find the best possible value. Click here for more information on "How to choose your Realtor"

3.  Complete the Paperwork on Time and Move In!

•  Once you find a home, there are many time-sensitive items that occur during the paperwork portion (escrow) of the transaction. Having an agent can save you time, money, and headaches because they can be on top of the deadlines.

•  Move in and enjoy your new home!