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