Buying A New Home
Congratulations!
There are many steps to purchasing a new home and as your
Coldwell Banker® Sales Associate, I am ready to guide you along the
way.
Steps to Get Started
1. Determine your budget and how much you can afford.
2. Get pre-approved for a mortgage.
•When applying, you’ll most likely need to furnish:
Two most recent pay stubs.
W-2 forms for the past two years.
Federal tax returns for the past two years.
Last two months bank statements.
Long-term debt information such as credit cards, auto loans etc.
Getting Approved
A lender will check your credit to see if you’re a good candidate
for a loan.
If your credit rating is poor, there are things you can do to improve
it.
• Make sure the report is correct. If not, call to fix it.
• Begin to pay your bills on time.
• Use two to four credit cards so you can keep track of them.
• Keep a separate checking and savings account.
• Keep the same job for a few years.
Pre-Approved vs. Pre-Qualified
Pre-Approved: confirmation the lender
will give you a commitment to support your purchase.
Pre-Qualified: an estimate of what you
can afford.
Being pre-approved makes you a more attractive
candidate to the seller when making an offer.
Deciding On A Mortgage
Fixed Rate Mortgage: the interest rate
stays the same for the entire term of the loan.
Adjustable Rate Mortgage: the interest
rate is linked to a financial index and may fluctuate with market conditions.
As such, payments may vary over the life of the loan.
Calculating Your Budget
To estimate your budget, add up your total financial worth and then
subtract all the cost in the purchase.
Some expenses you may carry:
Down payment
Mortgage
Insurance
Taxes
Points
Attorney’s fees
The Fun Begins
Before you search for your dream home, some things you should consider:
Size of property
Type of neighborhood you desire
Quality of school system
Nearby public transportation
Urban or suburban
Multiple Listings
Open Houses & Special Features
As your Coldwell Banker® Sales Associate, I can show you every home
available on the market that meets your specific needs.
Online Access
coldwellbanker.com provides access to over 200,000 properties.
A few unique features include …
My Coldwell Banker: your personalized resource
center.
Personal Retriever®: alerts you when
the right property becomes available.
Information Center: helpful articles, tips
and tools.
Interest Rate Watch: features the latest
mortgage rates.
Neighborhood Information: useful neighborhood
details.
Writing the Offer
Once you’ve found the perfect home, I will write up the offer and
ensure all paperwork and activities are completed so you can close on
your property.
The Closing
This is the meeting where the transaction is finalized. I will guide
you through all closing procedures to make your home officially yours.
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