What's the best way to start searching for a home?
The first step to kick off your home search is to find yourself a real estate agent. Your agent can help narrow down your search for a home but they can also walk you through your specific situation, your options and connect you with industry experts that you’ll likely need along the way – such as a lender, home inspector, and attorney.
Before you start clicking through new home listings on the Internet, it’s advisable to save yourself time up front. Make sure you’ve pre-approved by a reputable lender that knows our local market.
What does a Realtor® actually do?
You may be wondering why you need a Realtor® if you have an attorney. Let’s look at the differences.
- Your agent will walk you through your specific situation, your options and what has worked for other buyers like you.
- They are well connected and can connect you with their team of professionals, such as a lender, home inspector, attorney, title and escrow companies, home insurance companies, stagers, photographers, painters, electricians, cleaners, movers, the list goes on and on…
- Your agent will have inside knowledge of what’s coming soon on the market – things you won’t know just by looking at homes online.
- Your agent will show you homes and offer you insight into what’s happening in the community.
- Your agent will run comparables on the home of your choice, negotiate on your behalf and ensure the transaction goes smoothly from start to finish.
- Your agent will do the final walk through with you and attend the closing.
- Above all, your agent will be representing you, and you alone.
Why get preapproved?
A Mortgage Pre-Approval identifies your “Buying Power”
In order to determine how much house you can afford, your interest rate, and your monthly payment, a lender will look at your assets, debts, income, and credit.
Your credit score is a key factor in obtaining a mortgage loan. Understanding how it is calculated and ways to improve it can secure your dream home. I know lenders who can offer some great tips on how to improve your score before you actually purchase a home, so it’s really important to connect with the right lender – someone who will hand hold you through the entire loan process, regardless of whether you end up getting a loan through them or not.
Types of mortgages you may come across
Fixed-rate mortgages have a set interest rate for the entire term of the loan.
Adjustable-rate mortgages have an interest rate that may change over time.
Government-backed loan are insured by the government, making them less risky for lenders and potentially easier to qualify for.
Not sure how to get started?
Not sure who to call? Let me help. I work with lenders every day and can share my experience.
As your local Westchester County agent, I’m here to answer your questions – whether you’re just thinking about buying a new home or are ready to take the leap. Please send me an email to [email protected] or give me a call at 914.826.5200.
