a home is an exciting but often overwhelming experience,
particularly if you are buying your first home. As
your REALTOR, I can help you through the home buying
process and assure that you find the right home for
you, at the right price for you.
are some common concerns many buyers often have:
time frame should I expect?
There are a lot of variables in the home-buying process,
which means the time it takes to find and buy your
new home varies too. A typical home search process
may take one to three months, including the mortgage
approval process, comparing and evaluating properties,
making an offer and the closing process. The loan
process typically takes 30-45 days.
should I expect during the mortgage approval process?
This is perhaps the most intimidating aspect of buying
a home. I'll be here to help guide you through this,
but there are many ways you can prepare early to make
the process smoother. Start by making sure your budget
is under control - make a list of all your monthly
expenses, compare it with your income, and see if
adjustments need to be made. You should also try to
pay off small credit card balances. Start gathering
documents you may need, such as W-2 forms, income
tax returns for the past few years, pay stubs, records
of child support or alimony, bank statements for the
past several months, and your credit report. Also,
be sure to allow for closing costs. Getting several
offers will allow you to compare loans and get the
best deal. Also See: "Why
Pre-Qualify For A Loan?"
can I determine how much I can afford?
A general guideline to consider is that most buyers
purchase a home that costs about one and a half to
two and half times their current annual income. For
example, someone earning $50,000 a year might purchase
a home for $75,000 to $125,000. Mortgage payments
should be about 26-28 percent of your gross monthly
income. Existing debt is also considered in the mortgage
process, and total debt payments (car payments, credit
cards, student loans, etc.) should not exceed 40 percent
of your gross monthly income. Be sure to check out
our free Mortgage
so many homes for sale, what can I do to find the
Before we start looking at properties, make a list
of "must-have" features along with optional
features you'd like to have. "Must-have"
features may include the number of bedrooms and bathrooms
you'll need to accommodate your family, location,
lot size and special needs (handicapped access, etc.).
Optional features may include the architectural styling,
bay windows, landscaping, etc. Having a clear idea
of what you want in a home will help in finding the
perfect property for you.
yourself about the Home-Buying
key to getting a home you will love and can afford.
As your REALTOR, I am here to answer any questions
you might have and guide you through this process.
Please feel free to contact me any time by