Question: Do I need at least 3% down payment to purchase
Answer: You can purchase a home with no money down; however,
more down payment you can put down, your chance of getting
better financing increases.
Question: Do I need great credit & income to
purchase a home
Answer: Financing is available to all income & credit
Question: Why do I need a Realtor® to help me find
a home with all of the technology and advertising available?
The Internet and newspaper ads are good places to start
researching the current housing market. You can also find
information to help answer many of your financing questions.
Once you have looked at what's available to you, it's time
to get a professional involved. You might spend hours scanning
newspaper ads and home magazines, driving through neighborhoods
looking for "for sale" signs, phoning on individual
listings, and still miss the opportunity to see some of the
best homes available. A professional Realtor® will save you
time, money and make a wealth of information resources available.
Question: What should I consider when I start to look for
First, you should put together a list of features and benefits
you want in a home. Think of such things as pricing, location,
size, and amenities. If you can't get a home at the price
you want with all the features you are looking for, figure
out what features are most important to you and rank them
in priority so you know what you're willing to sacrifice.
Would you rather have a large kitchen and smaller bedrooms?
Question: How can I lower my monthly payment?
Answer: You should try to get the best loan available to
you. Determine how long you will be owning the property then
decide if fixed loan, ARM or interest only loan would best
suit your need. Also, if you have extra bedrooms, you can
rent them out to reduce your monthly payment.