Buying A Home: People You Come Across And Ought To Know
When you are making the decision in buying a home, there perhaps may be lots of questions running through your mind. “Who’s going to help me find the home I’m looking for?” “When will I get approved?” “Can I get help from someone?” are just come of these questions.
Don’t fret. There are many people whom you’ll come across during the home buying process. If you get to know them well, they might even help you out.
Here they are.
Your Real Estate Agent
This is probably the most important person to help you with your journey in buying a home. Even the seller has one. Real estate agents have different expertise so make sure that you get the professional who suits your needs. When you start your home search online, the right real estate agents give you updated information about listings.
They also keep you posted about changes or corrections in those listings. They are there to address your most pressing concerns. You just have to be open about them. They have a direct obligation to you and not the seller. You can ask them about the price of neighboring houses, their time on the market (listing) among other questions.
All this helps you find a house that fits your needs and your budget.
Loan Officer, A.K.A The Lender
The lender or loan officer is another important individual you’ll come across in the process. They help you get educated about the requirements of getting a loan and how to go about it. Before you meet the lender, it’s a good idea to get a mortgage estimate using a loan calculator.
The payment has home buyers’ insurance, property taxes and private mortgage insurance if you give less than 20% down payment. When you have a budget and living expenses calculated, you can ask for a more realistic pre-approval letter. This is better than the bank (lender) just giving you an estimate of what they think you can afford.
They just know your gross income but not your budget or expenses. A realistic pre-approval letter that accounts for that information will show that you’re a serious home buyer to the seller.
To know more about buying a home, call Loyal Partner Homes at (952) 607-5245.