Home Buyer Starter Guide

Home Buyer Starter Guide

If you are considering the purchase of a new home, there are several steps to the process that if done properly will make your purchase experience more enjoyable and less stressful. Listed below you will find a brief description of each step in the process as you prepare to look for your dream home.

Selecting A Mortgage Lender - It is crucial that you begin the mortgage loan process well in advance of beginning your search for a new home that you would want to purchase.

(1) Loan Options - Take the time to speak with several lenders to determine what types of loans are available to you. Talking with mortgage companies, financial institutions such as banks, credit unions, and savings and loans will allow you to determine what program is best for you and the opportunity to compare rates.

(2) First Time Home Buyer - Many lenders offer programs specifically designed for first time home buyer. If you qualify, these special programs provide terms that include minimal money down, low interest rates or federal programs that provide one or both.

(3) Financial History - As with all consumer loans, home mortgage interest rates will be directly related to your credit history and debt-to-income ratio. When you have a good credit history and limited debt load, then you automatically qualify for a better rate. If you are in a less than ideal credit situation, your lender can provide advice and a plan of action to help you improve your current credit score and earn a better rate.

(4) Types Of Loans - Your trusted loan officer will review your credit file and discuss with you which loan program is best for you and how much you can borrow. He will then move forward to get you pre-approved and provide you a pre-approval letter.

(5) Pre-Approval Letter - The pre-approval letter will allow you to focus on homes that are in a price range that are realistic for you and also show potential seller's that you are a serious buyer as you begin the home buying process.

Selecting A Real Estate Agent - Just as you interviewed and spoke with several mortgage lenders, you will want to speak with several agents to be your Buyer Represenative. The agent you choose can research for homes within your price range that meet the other criteria that you have provided them. They also can preview homes for you in advance or arrange to preview the homes with you. When you find a home you want to make an offer for, they will prepare a contract to offer to the seller and assist you with any and all negotiations. Yes an agent receives a commission, but that fee is paid by the seller and not you. Besides, an experienced agent will be a valuable asset with their knowledge of local communities, the real estate market current trends, schools, etc.

Buying a home should be an exciting time and if you will follow the simple steps within the process, you may find the experience more enjoyable and less intimidating. Source: Old Republic Title

Steve Lester is a REALTOR living in Allen, Texas.
[email protected]
http://stevelesterhomes.net/



Seana Taylor Headshot
Author:
Phone: 940-337-1821
Dated: January 7th 2014
Views: 1,857
About Seana: Seana is a native Texan and has lived all over the Lone Star State. She & her family now call Frisco...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Kids Activities In Ellis County The Week Of 6-17-18! - Check out this weeks kids
Jafar's Mediterranean Grill in Van Alstyne - If you haven’t dined at&
Kids Activities in Ellis County the week of 6-10-18 - Live in Ellis County? Looking for
What Do Home Inspectors Look For? - Whether buying or selling a home,

Our Bloggers

Alan Oliver - 7
Allen M. Solhjoo - 4
Amber Johnson Oputa - 13
Amy Jo Saenz - 3
Ana Cantu - 1
Andrea Trimble - 55
Angela Taylor - 1
Angela Cotten - 102
Ann Kessel - 4
Ann-Marie Pope - 2
Annette Bruen - 47
Ashley Lambert - 1
Audra Young - 1
Belinda Duff - 5
Beth Herr - 1
Beverly Bryant - 24
Blake Marion - 3
Bob Cardillo - 4
Brittany Duey - 1
Bryce Smith - 5
Candace Mozingo - 1
Candie Hernandez - 10
Cara Balderas - 73
Chad Gabriel - 58
Christina Gonzalez - 5
Christine Shannon - 30
Christine McGinnis - 1
Christopher Evans - 1
Chuck May - 1
Clint White - 2
Comprar Casa DFW * - 4
Dakota Joyner - 10
David Darty - 1
Debbie Zurita - 17
Debbie Viverito - 132
Derek Taylor - 5
Diane Velez - 18
Drew Spears - 8
Edwin Liddie - 1
Erica Taylor - 54
Eunice Pettaway - 1
Eva Duffy - 8
Felicia Johnson - 79
Gary Hutchings - 20
Go 2 Girls Realty - 173
Greg Cunningham - 2
Gregory Cornett - 2
Heather Feragotti - 8
Holli Paddio - 3
Hunter Howard - 1
Jamie Brannagan - 2
Jason Todd - 24
Jemi Khan - 26
Jenna Stanley - 9
Jennifer Flynn - 9
Jennifer Boyd - 2
Jessica Boozer - 18
Jill Elliott - 99
Jimmy Hanks - 1
John Priestash - 60
Judy Tapscott - 2
Julian Taylor - 17
Julian Dozier - 4
Julie Nicholson - 10
Julie Cash - 2
Justin Blackburn - 1
Karla Terrell - 2
Kaysone Orlando - 1
Keisha York - 30
Kelley Stubbs - 3
Kelly Rumney - 9
Kevin Taylor - 16
Keyatta Johnson - 2
Kristen Henderson - 18
Kristine Edens - 3
Laneal Ernest - 9
Larry Frassinelli - 6
Leah Ecob - 15
Leigh Klotz - 5
Linda Scardis - 4
Lisa Carroll - 3
Lisa Cardillo - 53
Lucina Cervantes - 11
Marcos Garza - 1
Maria Lopez-Jones - 1
Mark Mulch - 19
Mark Fischer - 2
Marla Johnson - 1
Martina Worley - 2
Mary Taylor - 15
Melodie Sulgrove - 1
Michael Chatman - 2
Michele Thompson - 6
Mimi Rader - 1
Missie Craig - 12
Moira Brunken - 18
Monica Solkhon - 1
Naddia Morales - 10
Nick Walton - 79
Nikki Okpuzor - 5
Olivia Borowski - 1
Rachel Walsh - 2
Ramon Bermudez - 4
Rene Sinclair - 27
Rhonda Borgne - 1
Richard Mikus - 1
Rodrigo Sotomayor - 16
Rosalia Tejeda - 1
Roxann Hailey - 4
Sandy Setliff - 226
Sarah Dieter - 9
Sean Moniri - 21
Seana Taylor - 217
Shalee Garza - 10
Shelby Smith - 3
Shelia Randolph - 33
Spring Weeks - 9
Stacy Lynn Massar - 27
Steve Murray - 1
Susan Florsch - 12
Tami Bennett - 45
Tammy Gill - 1
Teneka Ray - 1
The Doyle Team * - 5
Tim Stoll - 52
Timothy Taylor - 1
Timothy Gilliam - 2
Trenton Johnson - 15
William Hurd - 3
William Graves - 5
Wilma Goodwin - 2

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

JP And Associates REALTORS
6136 Frisco Sq Blvd, #200
Frisco, TX
972-375-9448
0