Posts with tag 'First-time Buyers'

Buying a house is a major investment, and as a homebuyer, it's important to do everything you can to protect the investment you make in your property. Homeowners insurance is one of the biggest keys to protecting your investment, and most lenders require you to purchase insurance if you have a mortgage. Even without a mortgage, insurance is important for every homeowner. Our REALTORS® are here to help you protect your home, with our guide to making sense of homeowners insurance.

Home Insurance 101

• Why Mortgage Lenders Require Homeowners Insurance
  Whether you're shopping for Beavercreek homes for sale or homes in another location, your mortgage lender is likely to require you to purchase homeowners insurance. Lenders require insurance because it protects their investment in your home. If something goes wrong with the property, the lender wants to know any costs will be covered. With the right insurance policy, you'll be able to cover repairs of the most common issues that can damage your home. In addition to covering damage to the home itself, many home insurance policies provide coverage to repair or replace personal belongings in the home.

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Your credit score is the magic key that opens the door to the best interest rates and loan options. It's a number you'll want to raise as high as possible before you start looking at Beavercreek homes for sale. It takes time to raise your score into the right range and the following five steps you can move your score going in the right direction.

1. Dispute Errors
   Errors are exceedingly common on credit reports. Approximately 25% of credit reports in America contain errors including missed payments, incorrect addresses, open accounts that are in reality closed, and debts that are incorrectly recorded. You should always dispute errors and ensure that any incorrect information is removed from your report. The prevalence of errors on credit reports highlights the importance of keeping your financial records organized. You will need these records to dispute any errors you discover. Once your dispute is submitted, it can take around 30 days for an error to be removed from your credit report and slightly longer for it to improve your credit score.

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Applying for a mortgage means your financial situation is under close scrutiny and that applies even more so when you're self-employed. But that certainly doesn't mean that you can't get a mortgage or that you'll never be able to buy Beavercreek homes for sale. Many self-employed people successfully buy houses every year. But you may encounter a few more stumbling blocks along the way. So what can you do to make the process go as smoothly as possible? These tips can help.

1. Keep good records and have the right documentation available. Lenders need to assess your ability to pay back the loan before you get approved. It can be a little more difficult to prove you have that ability when you're self-employed. You don't have the paper trail of pay stubs and W-2s other borrowers can rely on. You will need to produce more verification of your consistent income. In general, lenders will want at least two years of tax returns, a 1099 form, and a profit and loss statement if you are a business owner. You will also need monthly or quarterly statements from your bank and investment accounts.

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All the excitement of buying the perfect home after a long and hectic search can be one of the best feelings in the world. In the excitement of the final steps, however, things can be forgotten. We make a point of reminding those about to close on a Beavercreek home for sale to make sure and schedule a final walkthrough about a week before the closing.

This final step helps to ensure that the house you're getting is exactly as promised. This includes making sure agreed-upon items are left behind, such as appliances, and checking that all required repairs have been made. You'll also have a final chance to check for things like infestations and water damage, which may not have been apparent if the previous owners were still living in the house when you toured it. Seven things you will want to examine are:

1. Exterior. Make sure all the gutters are in good condition, and there isn't any damage from bad weather since originally inspected. Look for missing flowers, trees, and shrubs. Some people actually take these things with them.

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After viewing many great Beavercreek homes for sale, you've finally found the one that is perfect for your family. Now that you're ready to make an offer, our REALTORS® want to help make this process as easy and successful as possible for you. Buying a home is a huge milestone, and while we share in your excitement, we also want our buyers to be prepared for potential hurdles that may slow the process — particularly an obstacle that many home buyers refer to as a "bidding war."

Contrary to the phrase, competition between buyers is actually a civil event that often occurs when a property's features, location, and price appeals to a large number of potential buyers. Thankfully, our agents have successfully represented many homeowners during the springtime when buyer competition is often higher. We've gathered five effective strategies that you can use when bidding on a home in Beavercreek this spring.

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