Hello, this is David Limon with HIPACK Realty Group – Your Home Sold Guaranteed, or We’ll Buy It! Today I will discuss HomeBuying: 6 Things You Must Know Before You Buy.
A new report has just been released which identifies the 6 Things You Must Know Before You Buy.
Mortgage regulations have changed significantly over the last few years, making your options wider than ever.
Subtle changes in the way you approach mortgage shopping, and even small differences in the way you structure your mortgage, can save or cost you literally thousands of dollars and years of expense.
Whether you are about to buy your first home, or are planning to make a move to your next home, it is critical that you inform yourself about the factors involved before you buy. In answer to this issue, Industry Insiders have prepared a FREE special report entitled "6 Things You Must Know Before You Buy".
Here are 3 of 6 Things You Must Know Before You Buy
1. You can, and should, get preapproved for a mortgage before you go looking for a home.
Preapproval is easy, and can give you complete peace of-mind when shopping for your home. Your local lending institution can provide you with written preapproval for you at no cost and no obligation, and it can all be done quite easily over-the-phone.
More than just a verbal approval from your lending institution, a written preapproval is as good as money in the bank. It entails a completed credit application, and a certificate which guarantees you a mortgage to the specified level when you find the home you’re looking for.
2. Know your monthly payment conform level.
When you discuss mortgage preapproval with your lending institution, find out what level you qualify for, but also pre-assess for yourself with what monthly dollar amount you feel comfortable committing to. Your situation may give you a preapproval amount that is higher (or lower) than the amount of money you would want to pay out each month. By working back and forth with your lending institution to determine what the monthly payment amount is, and what value of home this translates into at today’s rates, you won’t waste time looking at homes that are not in your price range.
3. You should be thinking about your long term goals, and expected situation, to determine the type of mortgage that will best suit your needs.
There are a number of questions you should be asking yourself before you commit to a certain type of mortgage. How long do you think you will own this home? What direction are interest rates going in, and how quickly? Is your income expected to change (up or down) in the near term, impacting how much money you can afford to pay to your mortgage?
The answers to these and other questions will help you determine the most appropriate mortgage you should be seeking.
These are only 3 of 6 Things You Must Know Before You Buy. You can get the detailed report for free, just give me a call at 951-447-8381.
And, if you or anyone you know is considering buying or selling a house, or If you would like a free market evaluation to determine what your home will sell for, also get tips on what to do and most importantly not do to get the most amount of money for your house, and go over all the various closing costs you’ll incur so you’ll know how much you will have in your pocket after all expenses.
Call me now at 951-447-8381 or pass on my number!