Buying Your New Home
Looking for a new home can be an exciting and challenging experience. Having a real estate professional that takes the time to understand your needs and lifestyle is important. Sign up to be matched with a knowledgeable, professional, local expert.
Check Your Credit
The three main credit-reporting agencies are Equifax, Experian, and TransUnion; each is required by law to provide you with a free credit report once every twelve months. Check your credit report before you apply for a loan. Information contained in credit reports can affect your ability to become a homeowner.
Compare mortgage rates at local banks and credit unions, where you are more likely to get personal service, and choose one to get pre-approval. While you'll still have to formally apply for a mortgage, pre-approval tells the seller that you're ready to buy a house.
Pull Your Paperwork Together
When you apply for a loan, you'll need a financial statement showing your assets and debts, two years of tax returns, three months of bank and brokerage statements, recent paycheck stubs and maybe a letter from your boss confirming your employment.
Make Smart Choices
When you start shopping for a house, you will want the right price, the right neighborhood and the right space. Chances are, however, you'll be able to swing only two of the three, at least for your first home. So decide which ones matter most.
Negotiate From Your Strengths
You have a down payment, a pre-approved loan and a thorough knowledge of the market. Start with a low price, with the aim of getting 30% or more below the bubble-era price.
Work With A Professional
An eXp Realty agent is educated on the local market, knowledgable about the home buying process, and readily available to provide a full service experience. Having an eXp Realty agent on your side will assure you that you are able to maximize your time, energy, and ultimately your buying power.