Frequently Asked Questions
Am I Ready to Be a Homeowner?
Buying a house is such a good feeling. If you work hard everyday and have a credit score of a 640 or higher. You deserve to be a home owner. Paying rent is no fun as you Never see any of that money back, As you do when paying a mortgage. Buying a house is investing in yourself and your future financially.
Is Renting or Buying Better?
Everyone has their own opinion. With my experience I believe if you can afford to buy a house it makes much more sense to do so. When you buy a house every month you make your monthly Mortgage payment. You pay a portion of your mortgage off. When renting every month you go to make your rent payment. You’re pay off a portion of your Landlords mortgage. Buying is a better decision.
What Is the Lender's Formula?
Lenders are looking for a strong candidate to give a loan to. Therefore, that is why they look at your credit. Your credit will reflect your interest rate the lender will charge you. If you have 750+ credit the lenders will offer a lower interest rate because they see you are less of a risk of not making a payment. If your credit score is lower the rate will go higher because you show more of a risk that you may not always pay. Lenders also look at your debit to Income. If you want more info please inquire.
What Do I Look for in Homes?
When looking for a home you must ask yourself what do I need? Do I need a 2 bedroom or 3-bedroom house? Everyone has their own wants and needs. It depends on what you want and need.
Do I Need a Home Warranty?
As far as buying a home warranty I would say it depends on the house. Every house is like a fingerprint. They are not all the same. If the house is a new house with new appliances, I would say no you don’t need one. If the house was built 30+ years ago and nothing has been replaced. A home warranty would be a good idea. Either way it’s not a bad idea to buy one just for peace of mind.
What Should I Expect at Closing?
When you get to the closing table, you’re at the finish line. All you need is a copy of your license and make sure the money needed as been sent to a Title company. Once you get to the title company, you’ll sign documents, and the keys will be handed to you.
What Is Pre-approval?
A pre-approval is when you reach out to a bank and request to be pre-approved for a home loan. You would fill out an application and let the bank look at your credit. Once they’ve done their due diligence on you. They’ll tell you what you’re approved for and how much money you’d need to buy a house.
What is an approval?
An approval is when the lender reviews all your info and asks you for documents to confirm what you said is true. They ask for the last two years of your tax returns, Last two months of paystubs and the last two months of bank statements. This helps the bank review your financials to make sure you can afford to buy a house.
can i ask you for advice?
As a Real estate agent my Job is to guide you in the right direction. A client should always feel free to ask for advice or ask questions. Being a real estate agent, I understand the business and as a client we know that you don’t do this every day. So, we take you step by step. By the time you get done buying or selling a home with You First Realty. You should have the knowledge to be a real estate agent. That’s how much information we like to give our clients.
Lets find you a place you deserve!
You work hard every day you deserve a nice house. You tell me what you want and where you want to live, and I’ll make it happen. With the connection You First Realty has acquired over the years. Gives us an advantage over so other realtors. That may not have made a relationship with the listing agent on a house a client may want or have to have.
Let's Find You Together the Place You Deserve
Give Us a Call and we can meet and talk about your needs and dreams!