Buying a home, whether it is your first or fiftieth, induces an array of emotions. Realty by Dale Thomas understands it is an exciting time but naturally comes with some anxiety. It is understandable that you may question whether you can afford the mortgage payment, if the home will well accommodate your growing family, if the value will appreciate, if you paid the right price, etc. This is where the expertise of our agents comes center stage. RBDT agents will guide you through the process and work diligently to alleviate any apprehension. Our goal is to work as a team to find Your Dream Home.
A great place to start is by pulling your credit and reviewing the report and score. Exam for accuracy. Dispute any erroneous charges. Your credit score will help determine if you are eligible for a mortgage and the corresponding interest rate. The better the score, the better the rate which will save you significantly over the life of the loan. A good resource is Annual Credit Report which provides a FREE copy of your credit report from each of the three bureaus once a year. However, they do not provide a credit score.
Time to start filling the piggy bank and saving towards your down payment and closing costs. Lenders offer a variety of programs with varying down payment requirements. Realty by Dale Thomas is happy to recommend trusted, local lenders if you do not have one that you prefer. Need help with the down payment? Several programs are available in our area that offer up to $7,500 in assistance. Please click on the Down Payment Money is Available icon to determine eligibility.
Now you must decide how much you can afford. A good rule of thumb is the purchase price should not be greater than 2-3 times your annual income. The mortgage calculator below can aid in this determination.
Owning a home is a great investment and it is key to plan your mortgage payments ahead of time. Calculate your monthly mortgage using our free calculator below.
DISCLAIMER: The information found in these calculators are to be used as a guide and is deemed reliable but not guaranteed. Please schedule an appointment today to find out more information about your loan.
The final step before the physical home search begins is to obtain a pre-approval from your trusted Lender. You are now armed with how much home you can afford. If the you start the search before this critical step, you may be looking at homes that are well above your price range and end up feeling disappointed if you have to set your sights lower.
Now comes the part we love most at Realty by Dale Thomas….finding your family the home that best suits their needs and wants. Finding Your Dream Home. We are just as excited as you when we know you found the right fit. We will work steadfast to negotiate and secure the best price and terms for you. Every Buyer that signs to work exclusively with a Realty by Dale Thomas agent, receives a free home warranty at closing with a purchase price greater than $150,000. This provides peace of mind during your first year of ownership. For additional details, please click on the Free Home Warranty icon.