When it comes to purchasing real estate, it pays to be in the know. There are plenty of important questions to ask before you start the home-buying process. Here are a few of the most popular questions our customers ask:
1. What are the basic steps to buying a house?
The process of buying a home is not a simple one. Yet, while it can be complicated and confusing, many people also find it exciting. After all, you're getting ready for your future! There are five basic steps to home ownership:
- Figure how much you can afford to spend on a home.
- Choose the right professionals to assist you in finding and financing your new home.
- Go house hunting with your investment team - knowing what you want and what you can afford.
- Negotiate the terms of the purchase.
- Close the transaction, and move in!
Have more questions? Don't be shy.
^top
2. How will my credit score affect my ability to invest?
There are three major credit bureaus in the United States. These bureaus collect and store your credit history, issue you a "risk score" and then provide that information to potential lenders when you go shopping for your home loan. Banks and lending institutions will use this information to assess whether you're someone to whom they want to loan money, and determine the rate at which you will have to pay back that loan. Because your risk score so important, your first step is to find out what it is, and find out if and how you might need to improve it.
You can check your risk score online at each bureau:
We can help! Part of using BuyaHouse.com services include finding your credit score and assisting you with managing that score. Whether your score is perfect or not-so-perfect, put our expertise to work for you. We can help you to buy a home as soon as possible.
^top
3. I have limited income - can I still afford to buy real estate?
Lenders have found that good credit is far more important than verifiable income in determining qualification for home loans.
There are many solutions available, but first, you need to assess your current financial situation. You'll need to be sure you can afford the payments on your new home. Check our
affordability chart to see what you can comfortably afford. And be aware that while buyers often qualify for a home far beyond their means, it is essential to find the right price for you. Our counselors can help determine the optimal price range for you based on your special circumstances.
Specialized solutions cater to the different needs of our customers: From flexible programs for people with good credit, to loans that don't require the presentation of income documentation, to single-spouse purchase programs. Let us find the right solution for
you.
^top
4. I don't have enough cash saved up for a down payment- what should I do?
Today there are many loan programs that require no money down. These zero down loan programs are offered by numerous reputable, well-known banks that require no up-front payment - some will even allow the borrower to finance their closing costs in their new loan. Thinking creatively, such as borrowing against a retirement account, another property, or seller financing are additional ways to get you in with less cash than a traditional mortgage. Our counselors can guide
you.
^top
5. I have great credit, a good job and have bought a home before. What can you do for me?
- Help you build wealth. Our team of professionals are the best in the industry - and we are dedicated to helping you achieve your goals. Over the years, many of our clients have acquired over a million dollars in real estate equity - and you can too. It takes patience, discipline and a plan. We can help you put together that plan.
- Great network of affiliates. The affiliates we refer are among the top in their fields. They have to be, because if we receive complaints, we no longer refer them. You can assure yourself smooth dealings and complete satisfaction using members of our network.
- Answering questions - No matter how "perfect" or "prepared" you are, there are always questions. We are here to help. Put our experience work for you.
^top
Have a question we didn't answer?
Ask it here.
|
