If you’re considering buying your first time, Chris and his team are here to help. Whether you’re looking at a short sale home, Bank property or are after new construction, there are several factors to consider. Chris enjoys helping first time buyers learn the process and win them as a client for life.
Chris and his team are here to help and educate you through the process to ensure your transaction goes smoothly while avoiding any issues. They will provide you with the knowledge of the market so you can make the best decision. They believe in a no pressure approach to finding you the best home.
Owning vs Renting:
The rental market and rental rates have increase dramatically due to the increase of renters who have lost their home recently. When you rent, you are throwing money away and paying for your land lord’s mortgage. When you buy, you can deduct the mortgage interest from your taxes, while building equity.
Other factors to consider:
Beyond the type of property, price and area you’re considering there are many other issues to consider. Depending on the type, condo vs townhome and single family detached you may have homeowner’s association or condo association dues. These fees go to the community association for upkeep of the complex. Determining what the HOA actually covers, how well it is funded and certain restrictions are all very important items to have your agent research.
What do I need to apply for a mortgage?
The best thing to do is prequalify for a mortgage before looking seriously at short sale houses or other potential purchases. It’s important to know your buying power. Our agents can assist you with preferred lenders that can help you in this process. Other items you will need when it comes time to apply:
- Social Security numbers for both you and your spouse
- Copies of your checking and savings account statements for the past 6 months
- Statements from all your other assets
- Recent paycheck stub detailing your earnings
- Statements from all credit card accounts
- Account numbers and balances due on outstanding loans, such as car loans
- Copies of your last 2 years’ income tax statements
- Employment Verification Documents