Buying a Home
Buying a home is probably the biggest investment you will make, with long-term financial ramifications. It calls for many informed decisions and for good advice from a real estate professional. When buying a home, you can learn from the knowledge and skill of RE/MAX Professionals.
As the key to your real estate needs, here’s how I will help you find the right home:
- With access to the MLS and insight on properties about to hit the market, I will make sure you're considering all of the homes in your market that fit your criteria.
- I will do the browsing so you only visit the homes that best fit your needs and price range.
- As professional negotiator with years of experience, I will create, present and negotiate the best offer.
- I know the neighborhood and can give you the scoop about local developments and changes that don't always pop up in a Google search.
I'm a first-time home buyer, what should I do first?
Before looking for a home, determine your price range, down payment amount, and estimated settlement charges. Lenders use different variables including income, debt load and credit scores to determine how much a potential buyer can take out as a mortgage knowing what you can afford makes finding the right home easier.
Check out these Top 10 Tips to Successful Home Buying.
How do mortgages work?
The modern mortgage market offers a variety of mortgage loans catering to the needs of homebuyers. The titles and details of these plans can become confusing, especially as new types are introduced continuously. You can make sense of these loan types, however, if you understand the basic principles that govern all mortgage loans. Again, you can look to your real estate professional for assistance.
Basic Principles of all Mortgage Loans
- The home is used as security to back up the loan. A lender can force sale of the home if the borrower defaults by failing to make scheduled payments.
- The larger the loan compared to the value of the home, the more risky for the lender and, often, the more expensive the loan will be.
- Interest earned by the lender always is equal to the periodic interest rate times the outstanding principle balance of the loan. The periodic interest rate is the annual interest rate divided by the number of payments in the year (usually one per month).
- The required payment usually is a bit larger than the interest due so that some of the loan principal is repaid with each payment. This process is called Amortization and is why most mortgage loans can be retired when all the monthly payments have been made.
All mortgage loans have one of the following features:
- Fixed payment and fixed interest rate - fixed rate mortgages
- Fixed rate but variable payment - graduated payment mortgages
- Variable rate and variable payment - adjustable rate mortgages
For more information about mortgages and to get pre-qualified, visit Lawton's Veterans United Home Loans
Selling a Home?
Thinking of selling your home on your own? Online listing sites may lure you into thinking that the process is simple. Take a few photos, buy a "For Sale" sign and wait for buyers, right? But the process is much more complicated than that. If you're considering selling, let me be the key to helping you achieve your real estate goals.
- I will calculate the right price for your home. I will use the most current local and national market factors, as well as comparable sold homes in your neighborhood to calculate the right price.
- With this sale being the one of the biggest financial transactions of your life, it is my job to help you make the most money.
- I know which features and design styles are selling now in your area, the details of competing homes in your neighborhood and the relative value of different renovation projects.
- I know the best way to show off your homes’ features whether through de-cluttering or furniture rearranging.