Your home mortgage is an important investment in your future, and a mortgage refinance can be a smart move to help you manage your investments when used under the right circumstances. Here are some
First Time Home Buyers
Dated: October 10 2018
Buying Your First Home
Thinking about buying your first home? How exciting! When can I start looking at houses (so fun), when can we start shopping for furniture? (super fun as well). Wanting to make a huge leap like purchasing a home can be so exciting and come with a ton of questions, but everyone usually starts with the biggest, where do I begin? This is where this quick guide can be very helpful. It shows you not only the major steps you’ll take during the home-buying process, but also explain the relationships and experts you’ll need along the way.
Find Your Agent:
Your relationship with your real estate agent is the foundation of the home-buying process. (your agent = your rock.) He or she is the first expert you’ll meet on your journey, and the one you’ll rely on most. That’s why it’s important to interview agents and find the agent who's right for your specific needs, click on the following link to see a little bit more about myself and what I can offer you. https://joshua.sa-broker.com
Choose a Lender:
Once you’ve found your agent (AKA, your new best friend), ask him or her to recommend at least three mortgage lenders that meet your financial needs. This is another big step, as you’ll be working with your lender closely throughout the home-buying process
Pick a Loan:
Once you’ve decided on a lender (or mortgage broker), you’ll work with your loan agent to determine which mortgage is right for you. You’ll consider the percentage of your income you want to spend on your new house, and you’ll provide the lender with paperwork showing proof of income, employment status, and other important financials. If all goes well (fingers crossed) you’ll be pre-approved for a loan at a certain amount. (Sweet.)
Make a List:
Identify your list of “musts” and “wants.” This list is an inventory of priorities for your search. And there’s so much to decide: Price, housing type, neighborhood, and school district — just to name a few. If you’re planning to buy a home with a partner (in life or in real estate), make the list together. You want to be on the same page while buying a house. If you’re not, you’ll be less able to give agents or lenders the information they need to help you. And you risk wasting time viewing homes you can’t afford — or don’t even want in the first place.
Visit Open Houses & Start Shopping:
Now that you have both an agent who knows your housing preferences and a budget — and a lender to finance a house within that budget — it's time to get serious about viewing homes. Your agent will provide listings you may like based on your parameters (price range, ZIP codes, features), and will also help you determine the quality of listings you find online. Then comes the fun part: Open houses and private showings, which give you the unique opportunity to evaluate properties in a way you can’t online.
Make an Offer & Negotiate:
Making an offer can feel like an emotional precipice, almost like asking someone out on a date. Do they like me? Am I good enough? Will they say yes? It’s stressful! Some home sellers simply accept the best offer they receive, but many sellers make a counteroffer. If that happens, it’s up to you to decide whether you want your agent to negotiate with the seller or walk away. This is an area where your agent can provide real value by using their expert negotiating skills to haggle on your behalf and nab you the best deal.
Get it Inspected:
If your offer is accepted, then you’ll sign a contract. Most sales contracts include a home inspection contingency, which means you’ll hire a licensed or certified home inspector to inspect the home for needed repairs, and then ask the seller to have those repairs made. This mitigates your risk of buying a house that has major issues lurking beneath the surface, like mold or cracks in the foundation. (No one wants that.)
Closing the Deal:
The last stage of the home-buying process is settlement, or closing. This is when you sign the final ownership and insurance paperwork and make this whole thing official.
When it’s all said and done — break out the rosé. You’ll have the keys to your new home!
Guillermo has hit the ground running as a specialist in land development, investment properties and working with first time homebuyers. A native of El Paso, TX, Guillermo moved to the San Antonio area....