Recommend first steps for buying a home

Before looking at houses for sale, be sure you do some “research.” Here are some of the questions you’ll need answers:

Check out interest rates
What are current interest rates for 15 year and 30 year fixed rate mortgages? Also, for 1 to 3 year and 5 year adjustable rate mortgages?

Shop for the best loan
Which form of loan is best for you? Will you be in the house several years and benefit most from a long-term fixed rate, or do you want a lower, short-term rate because you plan to move soon or expect your income to increase significantly over the next few years?

Determine how much house you can afford
How much of a mortgage can you qualify for? The loan amount plus your down payment tells you how much house you can afford.

Investigate neighborhood prices
How much are the other homes in the neighborhood selling for?

Separate needs from wants
What priorities do you have for your next home? Are public transportation, community facilities, on-street parking, lot size, and privacy important? How many bedrooms and baths will you need? Will you need a home office space? How are the neighborhood schools?
You’ll be able to answer some of these questions on your own, but you may need some assistance with the others. If you do, please contact us. We can make sure you have the important home buyer’s information you need.