Profile picture for nilu2

buying home

HOW TO BUY A HOME
  • December 16 2008 - Atlanta
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Answers (8)

First of all find out how much you qualify for by getting yourself pre-qualified for a mortgage amount. That's the place to start. Then call an agent in your area to find something in that price range with your preferences.
  • December 17 2008
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I am a Realtor in California and what I tell my clients that they should go to there bank that they bank with and get pre-approved for how much home they can purchase.  Once you have that value you can purchase the full amount or lower then what you are approve for.
  • December 17 2008
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I am a Realtor in New Jersey.  "HOW-TO" questions can be specific to  "State" mandates and rules and regulations.  Sitting down with a professional in the local you want to purchase in should be your first step!  A true professional will be able to guide you through the entire process, which (for many) starts with introducting yourself to a real estate professional and getting pre-qualified for a mortgage.

For more inforation on Home buying in New Jersey visit my website:  www.SouthJerseyHomesForSale.com or contact me directly.
  • December 17 2008
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FIND REALATOR-
TALK W/REALTOR ABOUT YOUR NEEDS AND DESIRES-
FIND AND TALK WITH AN EXPERIENCED HOME LENDER- (If you are a first time home buyer, you should consider FHA 1st.)
LENDER THEN PRE-QUALIFIES YOU FOR THE AMOUNT YOU CAN BORRROW-
LENDER AND REALTOR DISCUS YOUR OPTIONS-
REALTOR WILL SHOW HOMES-
YOU DECIDE ON A HOME-
PROVIDE ALL INFORMATION NEEDED TO GET LOAN FROM LENDER-
GET APPROVED-
SIGN AND FUND-
NOW YOU HAVE A NEW HOME.

This is pretty much how its done.  If I could be of any service to you.  Please don't hesitate to ask.
  • December 17 2008
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Hey there,

First of all you want to make sure you can get pre-qualified for a loan (unless you're planning to pay for the home in cash). Once you get pre-qualified, make sure to find a Realtor in your area that will assist you in finding the right home at the right price. If you are buying a home it does not cost you a thing to have a Realtor. Once you find a home of your desire, the agent SHOULD know what to do at that point to finalize the sale. There are great deals on HUD homes currently even when it comes to obtaining a loan. I am based in Georgia myself, if you'd like more information on the buying process, please don't hesitate to contact me. Good luck!!!
  • December 18 2008
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Profile picture for hankbailey
Get a lot of education on the subject.  Take time researching properties.  Find a trusted adviser who can walk you through each step of the process, and make sure that person is your representative.  Don't assume a listing agent is representing you as a buyer. Talk to a Realtor, I know gaudy self-promotion, about the process.  Get references to that Realtor to make sure it is someone that has a reputation of being of good assistance to others you know.  This is no guarantee, but it will make your education more profitable if the Realtor has been qualified by others whom you trust.
  • April 01 2009
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Profile picture for coffeejolts
The first step in buying a home is to get your loan lined up. Research everything, compare lenders, triple check every line item until you are happy. The lenders here might tell you otherwise, but do not, under any circumstances, get an adjustable rate loan or an interest only loan. Get a fixed, simple interest mortgage, or keep renting. Interest rates are at all time lows. There is only one way for the rates to go, and that is UP.

Once that is done, you need to decide how much you can afford to spend on the monthly payment. The loan amount from the lender gives you a ceiling price, but that may still be more than you wish to spend. Use a loan calculator to translate from the monthly payment to the loan amount, but don't forget to include things like property tax and insurance, and leave room for maintenance costs. Once this is done, you can be comfortable knowing exactly what you wish to spend on a home.

Once you have the money issue out of the way, you'll need to reseach neighborhoods. If you have kids, school district should be your number one criteria. If you wish, get a real estate agent to help you. Take your time. There will always be another house. There is no rush.
  • April 16 2009
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Profile picture for Hotlantan
Using online real estate tools is a great way to launch your housing search.  This is a really quick read on my own personal experience:
http://clickscape.com/real-estate/house-hunting-online-for-the-first-time-buyer 

Hopefully you'll find it helpful in starting your own search.

  • April 22 2009
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