What are some of the benefits of owning a home?

• Owning a home will help you establish financial credibility.
• Owning your own home provides you with independence and more privacy than renting. You are free to paint walls, keep pets and much more.
• As you make more payments on your home, you add to its investment value. Improvements you make, also add to your homes value.
• Interest on your mortgage loan is deductible on your yearly personal income tax return. Many of the closing costs associated with purchasing your home are deductible, as are your property taxes.

Buyer Agent's services are free to prospective buyers! There are no hidden charges or obligations. We are here to help you find the home of your dreams. We’ll do the work, so you can enjoy the experience.

Why should I use a Buyer Agent?

We are knowledgeable in your area of interest. We can provide you with valuable information regarding new homes as well as information on your community of interest. We work directly with you to ensure you have a pleasant buying experience.

What is the difference between "pre-qualified" and "pre-approved"?

If you are "pre-qualified" you have determined, with a loan officer, what price you can afford based on the down payment, your debts and the amount the mortgage company will approve for your mortgage. Being "pre-qualified" is only a determination of your probable credit. If you are "pre-approved", your credit, employment and funds have been approved by the lender.

What are closing costs?

Closing costs are an accumulation of charges paid to different entities associated with the buying and selling of real estate. For buyers, they are usually about 4-6% of the total sales price of a property. Some of the closing costs you might encounter are: application fees, appraisal fee, county taxes, credit report, discount points, documentation fee, escrow fees, homeowners' association fees, loan fees, mortgage insurance, origination fees, tax registration and title insurance premium.

What is a point?

One point is equal to 1% of the new loan amount. Whenever government regulation, state usury laws and/or competitive practices prohibit the lender from charging a rate of interest that would make the real estate loan competitive with other fields of investments, the lender must seek some method of increasing the yield for the investors. By charging "points", the lender can bring the real estate loan up to those other investments.

What is earnest money?

When you make an offer, you will need to put up an earnest money deposit as a sign of good faith that you are seriously interested in buying a home. That deposit becomes a part of the purchase price and is held in a trust account until there is full acceptance of the offer. Typically, an earnest money is 3-5% of the offer amount.

What is title insurance?

Title insurance protects the named insured against loss because of defects, liens, encumbrances, adverse claims or other matters not shown or disclosed to the new owner that attach before date of policy.

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