Looking to find your dream home.
The way real estate is bought has changed, and what worked yesterday may not work today. Paul Haley offers forward-thinking marketing and stays ahead of the trends. His experience provides a level of representation and expert negotiation that matches the innovative marketing he has become known for.
what to expect when buying a home…
Why is Pre-approval important?
Why Pre-Approval is Important in Real Estate
Shows Seriousness: Demonstrates to sellers that you're a qualified buyer.
Defines Budget: Helps you know exactly how much you can afford.
Speeds Up Closing: Streamlines the process once you find a home.
Strengthens Negotiation: Gives you leverage in negotiations.
Early Issue Detection: Identifies potential credit or financial issues early.
Interest Rate Lock: Allows you to lock in your interest rate.
Boosts Confidence: Gives you confidence to shop and make offers.
Getting pre-approved can make a significant difference in your home buying experience.Getting pre-approved can make a significant difference in your home buying experience. It's always important to talk to a loan officer for professional advice on financing. We have in-house loan officers who can help you with the pre-approval process, making it easier and more convenient for you.
If you are paying cash for your home, you can bypass the financing process, which can lead to a quicker and simpler transaction. However, you will still need to provide proof of funds to demonstrate to the seller that you have the necessary cash available. Additionally, it's beneficial to consult with a financial advisor to ensure you're making the best investment decision.
PAYING
CASH?
FInancing Do’s and Do NOt’s
Do
- Get prequalified before you go see homes.
- Send all the documents requested by the lender.
- Make sure the earnest and down payment can be sourced.
- Set aside money for inspection and appraisal.
- Do everything the lender requires.
- Respond to emails and calls as quickly as possible.
Do Not
- Do not change jobs, become self-employed, or quit your job.
- Do not buy a car, truck, or van (or you may be living in it).
- Do not use charge cards excessively or let your accounts fall behind.
- Do not spend money you have set aside for closing.
- Do not omit debts or liabilities from your loan application.
- Do not buy furniture.
- Do not originate any inquiries into your credit.
- Do not make large deposits without first checking with your loan officer.
- Do not change bank accounts.
- Do not co-sign on a loan or lease for anyone.
FAQ’S
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The first step in the home buying process is to get pre-qualified for a mortgage. This involves meeting with a lender to discuss your financial situation and determining how much you can afford to spend on a home. Pre-qualification gives you a clear idea of your budget and shows sellers that you are a serious buyer.
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The amount needed for a down payment can vary depending on the type of loan you choose. Generally, conventional loans require a down payment of 5% to 20% of the home's purchase price. FHA loans may require as little as 3.5% down. There are also programs available for first-time homebuyers that offer down payment assistance.
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Closing costs are fees associated with the purchase of a home and typically range from 2% to 5% of the loan amount. These costs can include appraisal fees, title insurance, lender fees, and recording fees. It's important to review the Loan Estimate provided by your lender, which outlines all the expected closing costs. Depending on the market closing cost can be negotiated.
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The time it takes to close on a home can vary, but it typically takes between 30 to 45 days from the time your offer is accepted. The timeline can be influenced by factors such as the complexity of the transaction, the efficiency of the mortgage process, and the completion of necessary inspections and appraisals.
Contact me for any further questions