Your Guide to Buying a Home
Preparing to Buy a House
Ready to buy but not sure how? We’ve got you covered. Here’s a preview of how you should prepare and what you can expect.
Getting pre-approved will kickstart your home buying process. It will give you a better idea of how much you can borrow, your estimated monthly mortgage costs, and what interest rates you can expect on your loans. When sellers see you’ve been pre-approved, they know to take your offer seriously.
When it comes to making a down payment, it isn’t twenty percent or bust. Granted, lenders view a twenty percent down payment as less risky and therefore won’t require you to purchase private mortgage insurance (PMI), but if a lump sum payment of that size isn’t in the cards for you, you’re not out of luck. Learn about how private mortgage insurance (PMI) and other alternative financing options can create a path to homeownership.
When searching for your next home, the status of the listing will determine you and your agent’s approach to making an offer. Knowing the difference between pending, under contract, and contingent will inform your discussions with your agent.
Is now a good time to buy based on market conditions?
Find out what’s happening in your area and the factors that might impact the purchase of your next home. Read Windermere Chief Economist Matthew Gardner’s latest economic and housing update in his quarterly GARDNER REPORT.
Already have an agent?