Buying a home can be both exciting and overwhelming. From all the paperwork and negotiations, to the costs and timeline of events - there are a lot of considerations that come with buying a house. Oftentimes, new homeowners have many misconceptions about the mortgage process and general home ownership, but by doing a little homework ahead of time, you can insure that you’re on the right track to becoming a homeowner.

1. Are you prequalified?

When one is prequalified to buy a home, it means you have the financial backing for the purchase. This typically means you have acquired approval from a mortgage company up to a specific amount - this is your budget. Pre-qualification will also give you time to handle any potential credit issues that come up during this process before you're making an offer on a home. If you are prequalified, the process of buying a home can go much more quickly when you find the home you want to make your own. The amount you’re approved for can help your realtor better understand what you can actually afford. It usually only takes a few hours or even minutes to get prequalified.

2. How much do you know about the process of finding and buying a home?

Many of my first time home buyers are unfamiliar with all the steps it takes to become a homeowner. To help avoid any confusion down the road, I like to walk my clients through the buying process. I let my clients know how I can help them as an agent, I educate them on the lender's role, and I walk them through the state of the current market to set expectations. If you are unfamiliar with the process, be sure to find a realtor who will work with you to educate and explain - the right realtor will make your life much easier.

3. Are you prepared to pay the extra fees and costs to finalize the process?

closing costs, homeowners insurance, mortgage insurance and property taxes

Many home buyers are surprised to learn the true cost of becoming a homeowner. In addition to the down payment, there are many other costs associated with purchasing a home and finalizing the transaction. Each home purchase also brings about closing costs, mortgage insurance (if a full 20% is not put down), property taxes, and maybe other costs as negotiated with the sellers. I make sure my clients know about these items ahead of time and as they come up in the home buying process. Through HUNT, your entire mortgage processes will be handled in-house, which means you will be very closely connected with all the tiny financial pieces involved with the purchase. Our team of mortgage professionals will expertly guide you through the entire process, ensuring a quick, easy and simplified transaction. And, of course, I am always available to make muddy waters clear!

Ready to buy your dream home and need a little help? Contact me today! I would love to meet with you and answer any questions you have about the process.