BUYING A HOME
Buying a home is such an exciting point in anyone's life. It is a milestone that symbolize's maturity, growth, stability, security, and family. If your seriously considering a home purchase, here is some helpful information to get started.
First thing's first, you need to get pre-approved by the Lender of your choice. That gives you an idea of what you can afford. If you don't quite meet the requirements, then at that point the Lender can provide you with the proper steps to take to qualify in the future. Once you obtain your pre-approval letter, call the REALTOR® of your choosing and they will help you get started on your home search!
**If you do not have a Mortgage Lender in mind that you would prefer to use, then contact your preferred REALTOR® who can guide you to the right Lender that fits your specific needs.
APPLICATION FOR PRE-APPROVAL WILL REQUIRE THE FOLLOWING:
W-2's from the past 2 years
Tax Returns from the past 2 years
Last 2 months bank statements
Last 2 paycheck stubs or direct deposit slip provided by your employer
Depending on several factors the Lender may require further documentation throughout the process.
COSTS INCURRED IN A HOME PURCHASE - SOME COSTS CAN BE NEGOTIATED, BUT BEING PREPARED IS BETTER THAN BEING SURPRISED.
These prices and percentages are subject to change by size of the property being purchased, credit score, and other special circumstances.
Home Inspection: $360
Termite Inspection: $125
Appraisal - $500
Pre-Paid Expenses (Insurance & Taxes)
Closing Costs (2%-3% of Loan Amount)
Escrow Deposit (if required by the Seller)
VA 0% (if applicable)
Rural Development 0% (if applicable)