Home ownership has been proven over the years to be a good, long-term investment. As the saying goes, rent money is gone forever, but a home - it really is where the heart is! Yes, a home is a financial asset - but it is much more than that: it's a place to live and raise children. It's a plan for the future. It's an investment in your community. Buying a home is a momentous decision; with this in mind, we have put together a special brochure titled "100 Questions & Answers About Buying A New Home." The questions and answers were selected to give you a foundation of basic knowledge of buying a home. We strongly believe a Realtor will provide you with the guidance you need to make a knowledgable decision, and we would be honored to work with you. Click here to contact us about setting up an appoinment to begin the process of assisting you in purchasing your first home.
Congratulations - you have taken the first step towards owning your first home! We know with the uncertainty in the real estate and financial markets you have many questions. Your decision to buy a home is the biggest financial decision many of us will make, and will provide you with many financial benefits, in addition to providing shelter. Whether you like beachfront properties, a cottage home with white picket fences, or a tudor-style home, the idea of owning a home is very exciting. But it can be a bit confusing, if not downright scary.
Why should you consider buying? First off, buying a house puts your money to work for you. Historically, property values rise at a rate faster than most most of us can save and, over time, beat the rate one can achieve by putting ones money in an interest-bearing savings account. This makes owning a home a great investment. Plus, rents are on the rise upward, which means your monthly expenditures can change frequently. Assuming you choose a convenentional mortgage, your mortgage payment will be consistent each month. In short, you can stabilize your monthly expenses, and put the money you pay in rent back into your own pocket.
Want to discuss your situation immediately? Email us or call 949-285-1207 to discuss buying your first home.
Have questions on the buying process? Here are the key steps to buying a home and how the Clark Group can help make the process easier.
• Step One: Pull Your Credit Report
The first thing a lender will do is pull your credit. We recommend reviewing ones credit report yearly; this will head off most surprises during the loan process. Click here for your free yearly credit report. For additional information on checking your credit report, click here.
• Step Two: Find Out How Much House You Can Afford
A basic rule of thumb when purchasing a home is that you should budget one-third of your income for your mortgage, tax and insurance payments. Click here for a mortgage calculator that will give you an idea of how much house your payments will be.
• Prepare For The Closing Costs: Plan Ahead
• Step Three: Contact A Lender
We recommend that before you begin your house hunting, you contact a lender. If you don't have a preferred lender, email me or call us at 949-285-1207 and we will put you in touch with a couple of mortgage brokers that provide excellent service and will take time to answer any questions you may have regarding the mortgage loan process.
What Lenders Look For: First thing they look at is your ability to repay the loan by reviewing your credit history, monthly gross income, and the amount of your savings to be used for the down payment, typically 10 percent to 20 percent of the purchase price. For more information on preparing for the mortgage process, please click here.
• Step Four: Contact a Realtor
Now it's time to contact a Realtor. It would be an honor to represent you in finding you your next home or investment property. Click here to make an appointment to discuss your needs, email me or call me at 949-285-1207.
• Step Five:: What Do All Those Terms Mean? Like all industries, real estate has it's own vocabulary. Words like escrow, acceleration clause, and contingency are foreign to many people. Click here for our Glossary of Terms.
• Step Six: I Still Have Questions
No problem; We would be glad to answer any questions you have. Click here for contact information or click here for our feedback form.
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