Monday, June 17, 2019 / by Jason Huerkamp
- Do I need to talk to a bank before looking at homes?
YES! Before starting your home search, it is very important to talk with a lender and get pre-approved to buy a home. Talking with a lender helps you understand exactly how much you can afford, and gives you a better idea of what costs are associated with buying a home. If you are a first time home-buyer, this can be especially helpful, as a mortgage professional will go over the different loan options, first-time home buyer options, prepaid options and much more! In addition, understanding exactly how much you can afford helps you better determine the price range and communicate your needs & wants effectively with your agent.
- What is earnest money?
- How much are closing costs?
There are two options for buyers:
1. Pay closing costs directly at time of closing (this option is the most cost effective).
2. Finance closing costs into the loan (over the long run this will cost the buyer nearly 2x more money out of pocket since it's being financed over 30 years (360 payments)!
Trust the professionals! Real Estate is a popular topic, but you want to beware of taking advice from people who do not work in the industry. The best people to get advice from are licensed professionals who work in the field every day. Our team has 16 full time licensed real estate professionals and administrative staff working on the behalf of each and every one of our clients. We know what to expect and look for, and it is our goal to ensure that your home-buying process is as seamless as possible!