FIRST TIME HOME BUYERS GUIDE TO MORTGAGE

Dated: 02/21/2018

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Trying to buy your first home can be a very overwhelming and stressful process, I mean you have never done this before, and as a first-time buyer, you would want to get the best home possible. This is an enormous step in your life which you do not want to take very lightly, and at the same time, you do not want to have sleepless nights wondering if you would find the right home for the right price and also, would you still love this home after a year or two? These are all valid questions, but in order not to stress yourself, here are six steps to buying a home.

A.    Preparing yourself and the documents you would need; most, if not all real estate agents would not work with a client who has not been pre-approved for a mortgage with proof of funds. This is a major key in wanting to buy a home, as this enables you to know how much you can afford to purchase a house and this is also an excellent way to know your credit score, as it would be taken into great consideration before you get approved for a mortgage.Image title

B.    Finding the right agent; while most people think having a real estate agent is not very important when buying a home. There are very many significant advantages to having one, especially a real estate agent such as myself who is in your community. Real estate agents do the work for you and the best is that you don’t have to pay for the commission, seller part is the one who covers that; unless some rare exceptions. For buyers, there is a no-brainer, since you will have a real estate professional representing and look after you as the buyer. Your agent will handle negotiations with the selling agent, who knows the business and will look for the best interest of the one who contracts them, and that is seller part.  A real estate professional has their trusted and proved service suppliers to meet in a particular community to get information and the needed services usually at a better rate; that includes home inspectors, attorneys, title companies, appraisers, contractors, handyman, cleaning services, locksmiths, and many others. Never underestimate the need for a real estate agent.  

C.    Financing Service; as most contracts in the real estate market include a mortgage contingency; time is a major factor here as you want to get the loan before the deadline to secure the loan. Not securing the loan can mean you would not be able to buy a home, so try a much as possible to follow your agent recommendations on time, please your lender and get the loan as soon as possible.

D.    Find your perfect home; after getting both a real estate agent and the loan you desire, tell your agent exactly the type of home you need, give them the details clearly and vividly and also take your budget into consideration. If you, however, find a home or wish to buy a particular house you have seen before, give all the details to your agent and they would set up a showing for you and look for historic, market and tax information related that pImage titleroperty. You can even visit open houses with your agent to see different homes and the one which suits you best. Take the appropriate time you need to select a home; there is no rush. Image title

E.    Make an offer, when you find exactly what you are looking for, it would be time to make an offer. However, talk things over first with your agent as a good agent would check market statistics in that area or region and this can get you to save a lot of money especially if houses in that area are not being sold for top dollar. Evidently, the price would not be the same price the seller would want, so expect some counteroffers before both of you hopefully settle on an agreeable price. 

F.    Closing; Set a date maybe three to four weeks away, after coming to an agreement on the price, which would be the closing day for the transaction. On the closing day, in particular, visit the home one last time for the called walk through and check it out for yourself that everything is as it was supposed. If all is well then that is perfect, finalize the deal by signing all the contracts with the title company and as simple as that you have your home.

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Hope this information is valuable for you to understand better the process. I help people to achieve their dreams. I provide high tech & high touch real estate service to people looking to sell or buy homes. I understand what people need since I have been a seller and a buyer as well. I do more than just being a facilitator, I am a coach, a mentor and a friend. This has been my career and passion since 1999.

I have been awarded as Realtor of the year in 2009, have been broker-owner of real estate company that successfully sold new developments, commercial and residential real estate for over 10 years, have been director of Realtor board and president of Realtors board committees. I have the Graduate Realtor Institute Designation (Is like a Master in Real Estate). I have formal education postgraduate degree in Master in Business Administration and Bachelor in Psychology. I am a professional businesswoman, mother, and wife. I am also bilingual English/Español. Contact me anytime with your questions or to set up appointments 786-498-6917 /  rachel@arveloherreraproperties.com

At your service!

Rachel Arvelo-Herrera

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Rachel Arvelo-Herrera

I help people to achieve their dreams. I provide high tech & high touch real estate service to people looking to sell or buy homes. I understand what people need since I have been a seller and a buyer....

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