| Purchasing your first home is a big step that | | | | |
| comes with some serious decisions. When you | | | | Consult a Real Estate Professional ASAP |
| rent, instead of own, you are just buying the | | | | |
| home for your landlord. Buying a home today | | | | The most important person in this transaction |
| is so easy there is no reason to wait, | | | | is the Realtor that you use. Be selective on |
| especially since home prices have come down. | | | | how to choose your Realtor. Look on the web |
| But, hurry! They are beginning to increase | | | | to find some possibilities. Do not just use |
| due to buyers rushing to get into the market | | | | the first one you come into contact with. |
| at the lowest prices. Mortgage rates are | | | | Talk to a few and meet in person with a |
| also good, so the time is now. Here are some | | | | couple of agents before you look at homes. |
| tips to get you started. | | | | Make sure your agent sold at least 50 homes |
| | | | in the last year. Anything less than that |
| Before You Begin, Ask Yourself . . . | | | | means you are working with a new agent or one |
| | | | that does not have the experience that will |
| Will you live in the home for at least 3 | | | | best serve you. This agent represents you, |
| years? If the answer is yes, then buy now. | | | | so the agent you choose needs to know the |
| You can break even selling after 2 years the | | | | area, have a lot of experience negotiating, |
| way that homes appreciate in this area, so | | | | and be committed to finding the best home and |
| moving anytime after 2 years is profitable | | | | neighborhood that will meet your needs. |
| for you. Considering tax advantages, you | | | | |
| will more than break even; and, you can write | | | | Make a list of "Must Haves" & "Wants" |
| off real estate taxes and the mortgage | | | | |
| interest. Rent payments are generally the | | | | It's very important your Realtor know your |
| same as your mortgage payment, so it really | | | | criteria in order to find homes that meet |
| doesn't cost you. | | | | your needs. You can go to to view homes |
| | | | that fit your specifications. This will give |
| No Down Payment! | | | | you an idea as to what is possible in your |
| | | | price range and in the location you want. |
| Did you know you can buy a home with no money | | | | Once again, select your Realtor right away so |
| down? Mortgage companies are eager to loan | | | | if you become interested in new construction |
| you money if you have good credit and your | | | | your agent can negotiate for you. You do not |
| salary justifies the loan payment. Don't | | | | want to not be represented by a Realtor when |
| believe it if you are told you need a big | | | | you are purchasing your first home. This is |
| down payment to buy a home . . . that is | | | | very risky because this is a complicated |
| yesterday's thinking. | | | | purchase and no representation puts you at a |
| | | | major disadvantage. |
| Get Pre-Qualified | | | | |
| | | | Make a Decision |
| This is an easy process. Just call a | | | | |
| mortgage company and discuss your situation. | | | | Once you find the best home that meets your |
| You can call your present bank or a mortgage | | | | needs, take action. Homebuyers often |
| Broker. Ask friends or family for a personal | | | | hesitate and this could mean you miss the |
| referral. Use someone with a good | | | | best home that meets your needs. If you have |
| reputation. Interviewing lenders can be done | | | | chosen a good mortgage broker and a good |
| over the phone, so interview a couple to find | | | | Realtor, you should have the facts to make |
| the right one for you. Besides asking the | | | | the right decision. |
| current rate, ask about closing costs. Once | | | | |
| you select your lender, meet with them | | | | The time is right to buy your first home, so |
| personally and get a pre-qualification letter | | | | do not wait. If you have the right team of |
| that spells out what you can invest, interest | | | | professionals assisting you, it is an easy, |
| rate and closing cost. You will now use this | | | | wise and exciting process! |
| letter to shop for a home. | | | | |