Get Pre-Approved

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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

NOTE: We are not mortgage lenders or a bank. Please check with the professionals in this field to ask lending questions. For informational use only and is intended to be an overview and may not be up to date or accurate as of this posting.