Are you tired of paying someone else’s mortgage through your rent? Are you ready to own a home where you don’t have to request permission to make improvements or to add a 4-legged friend to your family?
In today’s market, many buyers are 1st time home buyers. In-fact, according to the National Association of Realtors 1st time home buyers made up 35% of home purchases in 2016, up from 33% in 2015!
Currently, there isn’t a difference in the tax credit whether this is your 1st home you purchase or your 100th. Are you looking for a loan specific for 1st time home buyers? Check around with a couple of local lenders to see if the offer programs for 1st time home buyers.
I know the thought of purchasing a home can be daunting, it doesn’t have to be. First things first, you need to find a great Mortgage professional as well as a great Realtor. Whether the mortgage professional is a local mortgage company, a credit union, or a bank, please take my advice and select someone you can walk into their office. If things start to go sideways in your transaction, you want to be able to get a hold of your lender and their team and not funnel through a phone tree. While you’re selecting your lender you should also be looking for a Realtor to work with. There are many ways to go about selecting a Realtor. You can look on Yelp, ask your friends/family for a referral, check out Realtor business Facebook pages, you can ask the lender you select for a referral.
There are many factors to consider when selecting a Realtor to work with. You will want to be sure they are active Realtors. Our industry changes very often, a Realtor that is actively selling and involved in the industry, beyond their sales, in my opinion, is the best type of Realtor to arm yourself with. They have seen a lot of hiccups in transactions and know how to handle them to keep the transaction together. If they are involved in the industry beyond the sales portion they will have a better idea of what changes or challenges are up ahead. When they share these with you, you become a better buyer.
I know the fear of rejection is what keeps many buyers from inquiring on home ownership. If you feel your situation is less than ideal for purchasing a home, I suggest still talking with a mortgage professional. They will be able to guide you in how to better prepare yourself, how to improve your credit. Once you know what to work on, you’ll know you’ll be able to purchase.
Find a lender and Realtor right away, even if you’re not thinking about buying for 6 months. This will allow you to evaluate where you are vs. where you would like to be.
This is an exciting time in your life, be sure to enjoy the process as much as you can. Lean on the professionals you choose for guidance through the process. This may be your first time through the process, but it isn’t theirs.
I have built my business on referrals. If you know someone looking for a well qualified Realtor in the Springfield, Eugene and surrounding areas in Oregon, I hope you think of me.
In need of a Realtor somewhere other than where I serve? I know many Realtors across the country. Chances are, I know someone that can be your Realtor!
Do you have questions about the housing market, upcoming legislation that will effect the housing market, or other topics you’d like to learn more about, email me: Graceb@remax.net