Seven Secrets for First-Time Homebuyers
Visit a certified housing counselor at a nonprofit organization.
Housing counselors credentialed through a nonprofit agency provide objective advice and
unbiased recommendations.
Get your finances in order.
Find out what your credit report and credit score are and correct any inaccuracies. Lenders
look at factors called the four Cs of credit: credit history (timely bill paying), capital (money
available for a down payment), capacity (income versus debt), and collateral (the value and
condition of the house).
Look for down-payment and closing-cost assistance programs. Some nonprofit organizations
and state or local government agencies can help you with down payment and closing costs
through grant money or low-interest loans.
Make sure homeownership fits with your lifestyle.
If you will be in a particular community for less than three years, if the local economy is not
doing well, if unemployment is rising, or if your future income will not provide you with enough
for mortgage payments and other financial responsibilities in owning a home, then renting
may provide the better option.
Shop around for everything related to your home purchase.
Follow the “rule of threes” by comparing at least three products, professionals or services
before making your final selections.
Get pre-approved for financing before shopping for a home.
Pre-approval is different from pre-qualification, which refers to when a lender calculates how
much mortgage you likely can afford based on unverified information. A preapproval is a
guarantee that the lender will loan you a fixed amount of money, as long as the property
appraises over the amount for which you are qualified and you buy within a certain time
period.
Carefully select a location.
Research area schools, property tax rates, insurance rates, and crime statistics. Spend time
thinking about things that may be important.
Visit a certified housing counselor at a nonprofit organization.
Housing counselors credentialed through a nonprofit agency provide objective advice and
unbiased recommendations.
Get your finances in order.
Find out what your credit report and credit score are and correct any inaccuracies. Lenders
look at factors called the four Cs of credit: credit history (timely bill paying), capital (money
available for a down payment), capacity (income versus debt), and collateral (the value and
condition of the house).
Look for down-payment and closing-cost assistance programs. Some nonprofit organizations
and state or local government agencies can help you with down payment and closing costs
through grant money or low-interest loans.
Make sure homeownership fits with your lifestyle.
If you will be in a particular community for less than three years, if the local economy is not
doing well, if unemployment is rising, or if your future income will not provide you with enough
for mortgage payments and other financial responsibilities in owning a home, then renting
may provide the better option.
Shop around for everything related to your home purchase.
Follow the “rule of threes” by comparing at least three products, professionals or services
before making your final selections.
Get pre-approved for financing before shopping for a home.
Pre-approval is different from pre-qualification, which refers to when a lender calculates how
much mortgage you likely can afford based on unverified information. A preapproval is a
guarantee that the lender will loan you a fixed amount of money, as long as the property
appraises over the amount for which you are qualified and you buy within a certain time
period.
Carefully select a location.
Research area schools, property tax rates, insurance rates, and crime statistics. Spend time
thinking about things that may be important.
Home
Utilities
Property Management
Home Values
Tips for Buyers
Tips For Sellers
Search for Rentals
Rental Application
Arizona Resources
Mortgage Application
Helpful Links
Utilities
Property Management
Home Values
Tips for Buyers
Tips For Sellers
Search for Rentals
Rental Application
Arizona Resources
Mortgage Application
Helpful Links
Buying
Selling
Renting
I can Help!
Selling
Renting
I can Help!
| (480) 544-0556 Cell (480) 907-1255 Fax Jeri@JeriWilliams.Com |
Buying
Selling
Renting
I can Help!
Selling
Renting
I can Help!
| (480) 544-0556 Cell (480) 907-1255 Fax Jeri@JeriWilliams.Com |
Referrals are the HEART of my business. Please don't keep me a secret!