We all know that there is always a multitude of concerns for anyone in the process of buying a home, but today we’re going to touch on the 10 most common ones and give you some answers:
- What is the first step in the home buying process? First and foremost, get pre-approved. Talking with a lender before looking at homes can help you understand what you can afford and what costs to expect.
- How long does it take to buy a house? Typically, it takes around 30-45 calendar days.
- What does a Realtor really do? To be honest, pretty much everything. We’re your most valuable asset when buying a home. If you need a detailed list, please contact us and we’d be happy to go over it with you.
- How much do I have to pay for a buyer’s agent? Nothing! The seller pays the commission, so buying a home is free.
- What’s the best advice for first-time home buyers? Trust a professional. Keep in mind that not all Realtors are the same. You need one that will be up to date on anything and everything that could affect your deal.
- What kind of credit score do you need? You need to have a score higher than 580, but preferably 620 and above. Again, you should speak with a lender to find out what products are available.
- Are there any special loan programs you should know about? Absolutely. Did you know that there are programs available that can get you into a house with no money down? A lender can help you learn what options are available.
- How much is needed for a down payment? It depends on your loan type and credit score, but usually, it’s 5% to 20% down.
- Are there any other fees besides a down payment? There are mainly just loan origination and closing costs.
- When do I get the keys? At closing. Once the loan has been funded and the title is recorded, you get the keys and the home is all yours.
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We’re your most valuable asset when buying a home.
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