Whether this is your first home purchase, or you’ve bought several properties, I’m here to help you navigate every step on the journey to your new home.
There are many moving parts and deadlines during the home buying process. It’s important to stay diligent to avoid any disappointments. I take pride in helping my clients through the necessary steps to ensure their dreams come true. I’ll be here to help you find the right home, negotiate the best deal, and follow each step to the closing table.
It’s a GREAT time to buy!
Owning a Home is Now More Affordable
30-year mortgage interest rates are lower than they have been in decades. Homebuyers today now have more purchasing power than in years past. In addition to increased purchasing power, homeowners today save thousands on interest payments. Borrowers with a 2.9% interest rate on a 30-year fixed-rate mortgage of $300,000 will pay $1,248.69 per month in principal and interest (taxes and fees not included). The total interest paid over the life of the loan will be $149,528.38. That same mortgage taken out a year ago would cost an additional $43,919.28 in interest over the life of the loan.
Receive a free download of my 22-page in-depth guide to the home buying process. Whether you are a first-time buyer or you have purchased several properties, this guide will help you navigate the many moving parts to the home buying process.
A list of some of the most common terms used in the home buying process that you’ll want to know.
Appraisal– A professional analysis of a property used to estimate the value. A necessary step in validating a home’s worth to you and your lender as you secure financing.
Closing Costs – The fees required to complete the real estate transaction. Paid at closing, they include points, taxes, title insurance, financing costs, and items that must be prepaid or escrowed. Ask your lender for a complete list of closing cost items.
Covenants & Restrictions – Rules and regulations placed on real property by a homeowner’s association (HOA), a neighborhood association, a builder or developer. They establish requirements and limitations on what a homeowner is allowed to do with the property and may include fees or special assessments.
Down Payment – Typically, 3-20% of the purchase price of the home. Some 0% down programs are also available. Ask your lender for more information.
Earnest Money Deposit – Sometimes referred to as a “good faith deposit,” the earnest money deposit (EMD) is the initial funds a buyer puts down once a seller accepts the buyer’s offer. The amount of the EMD may vary between 1 to 5 percent of the sales price.
Loan Contingency – A clause in the contract that allows the buyer out of the deal with their deposit if they cannot secure a mortgage with specified terms during a set period of time, typically 30 days.
Mortgage Pre-Approval Letter – A letter from a lender indicating you qualify for a mortgage of a specific amount.
Seller’s Disclosure – A disclosure by the seller of information about the property to the best of the seller’s knowledge. A seller must also indicate items such as knowledge of significant construction projects, property line or use disputes, military base/ airport related noises or activities, association-related assessments
or legal issues.