Common Questions from
1. Why should I buy, instead of rent?
Answer: There are many reasons why you should buy instead of rent, but the main reason is simply because it will eventually be yours instead of someone else’s.
2. I've heard of HUD homes. What are HUD homes, and are they a good deal?
Answer: HUD homes are typically foreclosure or bankruptcy’s homes. They can be a good deal depending on what the sales price is and what the cost of remodeling.
3. I've had bad credit, and not much for a down-payment. Can I buy a home?
Answer: Possibly, there are many programs out there to help with this issue. The best thing to do is talk to a good lender.
4. Can I afford a home by myself?
Answer: Possibly, depending on your income and what type of financing that you will be using.
5. Should I use a real estate broker? How do I find one?
Answer: Absolutely, you are making on the biggest investments that you will ever make in your life so you want a REALTOR to represent you and protect your investments. The best way to find a good agent is to ask your friends or search on the internet.
6. How much money will I have to come up with to buy a home?
Answer: Depends on what type of financing that you will be using.
7. How do I know if I can get a loan?
Answer: Get Pre-Qualified with a lender that specializes in residential mortgages.
8. How do I find a lender?
Answer: Ask your friends and family who they used, or search the internet.
9. In addition to the mortgage payment, what other costs do I need to consider?
Answer: Taxes, insurance, utilities, and any other monthly cost that it takes to keep your home looking good.
10. So what will my mortgage cover?
Answer: Your mortgage covers the principle and interest, but it could also include the taxes and insurance.
11. What do I need to take with me when I apply for a mortgage?
Answer: You’ll need:
*Past 2 years of W2’s
*Bank Account Statement
*Paycheck Stubs for 1 month
12. I know there are several types of mortgages. How do I know the best for me?
Answer: Tell the loan officer your situations and they should be able to let you know what the best avenue is for you.
13. When I find the home I want, how much should I offer?
Answer: Ask your REALTOR to pull comparable houses for that area that have recently sold.
14. What if my offer is rejected?
Answer: Consult with your REALTOR and see what would be a reasonable offer that would be win-win situations for you and the seller.
15. So what will happen at closing?
Answer: At closing you will be signing all of the documents that the bank and closing attorney require. Also, you will be bringing the necessary amount of money to close the deal.