A Guide for People Looking to Buy Their First Home
Are you fed up with living in rented homes? Landlords increase the rent every year and you also have to move from one home to another which is a very tiring process. Buying a home in your name is a good idea as it will give you a permanent address and also serves as an investment in your future. Many individuals start their house hunt in excitement but later find that buying a home is not a cakewalk. Here is a guide to make sure your endeavor is successful and hassle free.
Know your requirements
It is a great idea to know the requirements of your family before conducting a search for homes. It is better to set your priorities right before taking a step in this direction. Are you ready to bear the burden of monthly installments for the next 25-30 years? What type of house is best suited for your family’s needs?
Find answers to these questions before looking for houses.
Save, save, save
Just because you are ready to give the rent you are paying towards your mortgage obligations does not mean you have enough to buy a house. The purchase of a home comes with a down payment as well as closing costs, and other fees.
It is good idea to have a clear estimate in your mind and save that much money before embarking on the home buying process. It is better to save more money than you think you need to buy a house. You will be surprised how much more you need than just the down payment for the purchase of a house.
Check your credit
All lenders take a decision on your mortgage application after examining your credit report. They will also evaluate your debt to income ratio. Typical lenders look for credit scores at or above a 580. Different loan programs have different requirements. Make sure that you have a decent credit score before applying for a loan to increase your chances of approval and a better rate of interest.
Shop for mortgage loan
You need not jump at the first offer of a mortgage loan from a lender. Different banks have different mortgage products. You would do well to compare these products and choose one that is best suited to your interests and work with a lender who has local knowledge and who you feel is attentive and you can connect with. It is never a bad idea to get a lender referral from a realtor, family member, or friend.
EXIT Realty Champions', Champions Gate Real Estate Office, by Reunion Resort Orlando, is a full service Real Estate Brokerage Office in Champions Gate, Davenport 33896, next to Reunion Resort in 34747. Search for homes for sale with our Realtors, local experts in Champions Gate, Reunion Resort, Kissimmee and Davenport FL. This being the main area for resort vacation homes that can be rented out to meet the Disney World Orlando>, Universal Studios and other theme park market.
Alternatively, if you are looking for a new place to live, Our Realtors can help you find the perfect home in the Orlando, Kissimmee, Davenport, Clermont area known as the Four Corners, where Osceola, Lake, Orange and Polk Counties come together, Next to Disney and the Theme Parks.
EXIT Realty Champions' Realtors in Champions Gate, have a cutting edge Digital Marketing Strategy to help you sell your home for top dollar available in today's demanding market.
Rest assured that EXIT Realty Champions will Champion your housing needs, whether buying or selling one of the biggest investments you have, your home.
In a normal housing market, whether you’re buying or selling a home,
"We were looking for a new home in the Davenport area but did not have much luck with the agents for the home builders we preferred. We stopped in at Lance's office to see if we might find an older home. Lance directed us to a gated community/new construction location nearby. Two days later we were putting a contract on a home in this same community! Lance was with us during all phases of the purchase of our home, including closing 34 days after the purchase process started. He was hands on during the entire process, helping us to deal with everything. I would highly recommend Lance to anyone interested in purchasing a home!"