Buying process simplified

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I. Introduction

- Welcome to the home buying process

- Our expert agents are here to guide you through each step of the process

II. Preparing to Buy

- Determine your budget and get pre-qualified for a mortgage

- Outline the need for proof of funds if paying with cash

III. Finding the Right Home

- Work with your agent to create a list of must-haves and deal-breakers

- Search for homes online and attend open houses

- Schedule showings and take notes

IV. Making an Offer

- Work with your agent to determine the right offer price

- Consider including contingencies and offer strategies to make your offer more appealing

- Submit your offer and wait for a response

V. Negotiation and Closing

- Work with your agent to negotiate any counteroffers or contingencies

- Schedule a home inspection and appraisal

- Close on your new home and celebrate!

VI. Conclusion

- Buying a home can be a complex process, but with the right agent by your side, it can also be a rewarding one.

- Contact us today to get started on your home buying journey.

Loan Types

I. Conventional Loans

- Offered by private lenders

- Not backed by the government

- Require a higher credit score and a larger down payment than other types of loans

- Offer a variety of terms and interest rates, including fixed-rate and adjustable-rate options

II. FHA Loans

- Backed by the Federal Housing Administration

- Designed to help first-time homebuyers and those with lower credit scores

- Require a smaller down payment and have more lenient credit requirements than conventional loans

- Offer both fixed-rate and adjustable-rate options

III. VA Loans

- Designed for veterans and active-duty military members

- Backed by the Department of Veterans Affairs

- Require no down payment and have more lenient credit requirements than conventional loans

- Offer both fixed-rate and adjustable-rate options

IV. USDA Loans

- Designed for low- to moderate-income borrowers in rural areas

- Backed by the United States Department of Agriculture

- Require no down payment and have more lenient credit requirements than conventional loans

- Offer both fixed-rate and adjustable-rate options

V. Jumbo Loans

- Designed for borrowers who need to borrow more than the conforming loan limit (currently $548,250)

- Offered by private lenders

- Typically require a higher credit score and a larger down payment than other types of loans

- Offer both fixed-rate and adjustable-rate options

VI. Fixed-Rate Loans

- Offer a fixed interest rate for the life of the loan

- Monthly payments remain the same for the life of the loan

- Typically have higher interest rates than adjustable-rate loans

VII. Adjustable-Rate Loans

- Offer an interest rate that can change over time

- Monthly payments can increase or decrease depending on the interest rate

- Typically have lower interest rates than fixed-rate loans

VIII. Interest-Only Loans

- Offer a lower monthly payment during the first few years of the loan

- Borrowers only pay interest during this time and do not pay down the principal

- Monthly payments increase after the interest-only period ends

IX. Balloon Loans

- Offer a lower monthly payment during the first few years of the loan

- Borrowers make smaller payments during this time and then make a larger payment (the "balloon payment") at the end of the loan term

- Typically require a large down payment

X. Bridge Loans

- Designed for borrowers who need to buy new home before selling their current home

- Offer a short-term loan to cover the down payment on the new home

- Typically have higher interest rates and fees than other types of loans

- Paid off when the borrower sells their current home