Information For Buyers
Get Pre-Approved
- Pay off or pay down credit card bills.
- Buy the house first - then the car.
Car payments will deduct from your ability to purchase a home.
- Interview several REALTORS®.
Work with an experienced professional. A home purchase is an important decision that could affect your future financial position. Make sure the agent you select is familiar with your areas of interest and will be there for you in the future, when it is time for you to move on. There are approximately 7000 agents in the area and 70% will not make it through the first year. Make sure the agent you select has experience in the areas you are considering.
- Get fully pre-approved for a loan.
"Pre-approved" means your documents have been submitted to an underwriter and they have made a commitment to give you a loan, in writing. This approval is based on credit scores, salaries, length of employment, debt & housing ratios. There are some very creative loans available today. Low down payments & 100% financing are available. There are thousands of new loan agents in the business without experience. Ask your REALTOR® for referrals. Check with your bank or credit union. Shop and compare fees and rates.
- Research the neighborhoods that interest you.
Narrow down your choices. Have your agent provide comparable sales in the area so you can make an offer based on fair-market value. Current market conditions are bringing offers on all fairly priced homes. An experienced and highly respected REALTOR® has a better chance of obtaining an accepted offer than a new agent.
- Remember: Location, Location, Location!
Everything else about the house can be changed.
