I Listen to What You Need, Then Find Exactly What You Want!
While your home-buying experience can be challenging, it should be exciting, not intimidating or tedious. That’s why I work hard to simplify the process while making every step transparent and understandable. As your professional advisor, I listen closely to your needs, prepare you carefully so you understand the process and constantly communicate with you so that you have the information you need to make the tough decisions when needed. There are no surprises along the way.
I will search tirelessly to find you the home that you want. Once found, I use my superior & winning negotiation skills to get you the best deal. I’m highly skilled in transaction management to ensure all the numerous details during your escrow are smooth and successful.
HOME BUYING PROCESS
How do I know if I’m ready to buy a home?
• Do you have a steady source of income (usually a job)?
• Have you been employed on a regular basis for the last 2-3 years?
• Is your current income reliable?
• Do you have a good record of paying your bills?
• Do you have few outstanding long-term debts, like car payments?
• Do you have money saved for a down payment?
How large does my down payment need to be?
When considering the size of your down payment, consider that you’ll also need money for closing costs, moving expenses, and – possibly -repairs and decorating. There are mortgage options now available that only require a down payment of 5% or less of the purchase price.
The larger the down payment, the less you have to borrow, and the more equity you’ll have. Mortgages with less than a 20% down payment generally require a mortgage insurance policy to secure the loan.
How much money will I have to come up with to buy a home?
This expense depends on a number of factors, not just the cost of the house and the type of mortgage you would like. You should plan to come up with enough money to cover three costs: earnest money – the deposit you make on the home when you submit your offer (to prove to the seller that you are serious about wanting to buy the house), the down payment (a percentage of the cost of the home that you must pay when you go to settlement), and closing costs (the costs associated with processing the paperwork to buy a house.)
You will pay the closing costs at settlement. This amount averages 3-4% of the price of your home. These costs cover various fees and processing expenses. When you apply for your loan, we will give you an estimate of the closing costs, so you won’t be caught by surprise.
What is an escrow account? Do I need one?
Established by your lender, an escrow account is a place to set aside a portion of your monthly mortgage payment to cover annual charges for home owner’s insurance, mortgage insurance (if applicable), and property taxes. Escrow accounts are a good idea because they assure money will always be available for these payments. If you use an escrow account to pay property tax or homeowner’s insurance, make sure you are not penalized for late payments since it is the lender’s responsibility to make those payments.