Posts with tag 'First-time Buyers'

Buying a first home is a momentous occasion. But as you're probably aware, the buying process is not just about trawling through the real estate listings and scheduling tours of homes. Before you ever set foot in a home you might like to buy, you need to think about financing. That's right: It's the unglamorous but essential part of buying a home. In simple terms, how are you going to pay for it?

Far too many prospective home buyers march forth in Lalaland, convincing themselves that they'll slap down a minimal down payment and figure out the financials later down the line. Those who take this tack can be in for some unpleasant surprises. We strongly suggest you square away how you will pay for that house you love among Beavercreek homes for sale before you even start shopping.

Here's some valuable information on down payments, and more, compiled by our REALTORS®.

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A fast and easy path to closing is the dream scenario for buyers and sellers alike. Our REALTORS® can help you avoid oversights that lead to delays when you're looking at Beavercreek homes for sale. Sometimes, though, transaction delays can occur through no fault of your own. A lot happens behind the scenes during the buying process, and wires can get crossed even when you do everything right.

When the unexpected strikes, there are often steps you can take to get things back on track. Other times, you may need to roll with the punches and assess how your plans are affected by an ambiguous situation. Whatever the case, your real estate agent is your strongest ally. Your agent's job is to be there for you every step of the way and advocate for your interests, so you can get the best deal on the home you want.

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A new home is filled with potential. There's potential for a bright and financially rewarding future, but there's also potential to find yourself stuck in a money pit. When you are househunting in Beavercreek, there are five red flags that our REALTORS® tell prospective homebuyers to keep their eyes open for when looking for a home.

1. A Glut of "For Sale" Signs in the Neighborhood
   If you see numerous homes for sale in the same neighborhood, it's often a sign that there are problems brewing. A new landfill could be under construction. Or, there could be any number of reasons that everyone is eager to move out of the neighborhood. A few homes for sale is a sign of a healthy community; too many homes is a sign that a community is dying, and it's best to stay away.

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If you're getting ready to become a homeowner, you've probably already discovered that there are a lot of important steps along the way. Getting pre-approval for a home loan is one of the most important steps, and if you're thinking about buying a home in 2020, our REALTORS® are here to help. 

One of the most common questions we get asked is, "When should I get pre-approved?" There are a few factors to consider when answering that question, but one thing is for sure: Before you start looking at Beavercreek homes for sale, it's important to have a pre-approval letter in hand. 

What is Pre-Approval?

Pre-approval is an important step before buying a home because it essentially proves that you have the financial means to do so. When you obtain pre-approval it says to homebuyers that you're ready and able to buy. It also lets you know just how much home you can afford, which makes it easier to find the right house for you.

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For many Americans, saving 20% for a down payment on a home, much less a down payment at all, can be a struggle. Fortunately, as an active or former member of the United States military, you have certain privileges when it comes to getting a home loan. The U.S. Department of Veterans Affairs sponsors one of the most coveted mortgage products for military members in the form of the VA loan.  

Our REALTORS® have worked with countless active military members, veterans, and their families to help find solutions for them to realize the dream of homeownership.  Here's everything you need to know about VA loans.

• No Down Payment
  Probably one of the most attractive attributes of VA loans is the fact that no down payment is required. Most conventional loans require a 5% down payment with 20% needed to avoid private mortgage insurance (PMI). Most Americans have a hard enough time cobbling together 5% down, and many won't reach the 20% threshold until they've paid as much in equity. Fortunately for veterans, there is no down payment required for a VA loan, meaning you can finance 100% of the purchase price of your home.

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