The most important part of buying a home is the relationship between the Realtor® and the buyer. Buying a home is the largest investment most people will make in their lifetime, and letting me know your wants, needs and desires will enable me to help you in the most efficient and meaningful manner.

These 7 Super Strategies For Home Buyers are designed to help you understand the step-by-step process of purchasing a home.

7 Super Strategies For Home Buyers!

1. Determine your price range by contacting a Mortgage Broker to define your affordability so you can be pre-approved prior to making an offer on a property. A professional and trusted Mortgage Broker will guide you to the different loan options that would work to you.

2. Finding a Mortgage Broker is easy. Call your Realtor® for a recommendation or ask a friend who recently purchased a home for the name of their Mortgage Broker. Bea Newhall can help with this.

3. Down payment can be as little as 3%. But remember that if you put down less than 20% the lender will require PMI (Private Mortgage Insurance). You may qualify for a 100% loan, depending on your income and credit scores. Ask your mortgage professional to discuss options with you.

4. Closing costs include various fees and expenses payable at time of Close of Escrow. You can expect to pay 2 to 3% of the purchase price in closing costs. These costs can be incorporated with your down payment or paid separately depending on your type of loan. Discuss this with your Mortgage Broker.

5. Making a written offer is the first of many steps in a real estate purchase contract. Here you will state financial terms, inspection terms, close of escrow date and determine a realistic offering price for that property. With the guidance of your agent all of these terms are negotiable at the time
of presentation. Bea Newhall shines here!

6. Time is of the essence the minute the contract is ratified. The clock starts ticking and your time to perform according to the terms of the Purchase Contract starts now. Your agent will get the contract to your Mortgage Broker and a Home Inspector to begin the process.

7. Loan process begins the moment the contract has been accepted. The Mortgage Broker contacts an appraiser and several lenders who have the best rate and type of loan best for you. You will want to be in constant communications with your Mortgage Broker from this moment on.