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17 First-Time Homebuyer Mistakes to Consider and How to Avoid Them

Redfin

Mortgage pre-approval serves several purposes: Determines how much you can afford to borrow Signals to agents and sellers that you’re more reliable Expedites the mortgage application process Locks in an interest rate for that specific period Here’s what to do instead: Take the time to get pre-approved by a lender before starting your home search.

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What to Know About Buying a Home For The First Time

Rochester Real Estate

Hiring a Real Estate Agent When buying a property, the right buyer’s agent will save you time and, perhaps more importantly, money. Before you hire a real estate agent, meet with them to discuss your requirements before you choose. (585) 704-7095 Contact Now Search Homes Home Fair Housing S.O.P.

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23 Common First-Time Homebuyer Questions: Your Questions Answered

Redfin

Speak with a real estate agent to help determine if you’re in a good position to begin the homebuying process. >>See: Lower your debt-to-income ratio: Paying down existing debt can improve your financial profile, helping you qualify for lower interest rates. Do I need a real estate agent?

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The Best Mortgage Blogs From 2017 | Advice For Home Financing

Rochester Real Estate

Advice On Home Financing | The Best Mortgage Blogs From 2017 Potential FHA Mortgage Quirks Anita Clark, a Real Estate agent in Bonaire GA who has been serving the residential real estate needs of consumers in middle GA for the past decade, provides some informative thoughts on potential FHA mortgage quirks.

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Cash Deposits When Buying a Home: What to Know

Point2Homes

So, while cash may be king with home sellers and their real estate agents, the same is not true with financial institutions. Therefore, when purchasing a home — especially for the first time — buyers should have a strong grasp of how lenders treat deposits. Verifying Cash Deposits. Simplified Cash Deposits.

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How To Buy A Home For Your Disabled Adult Child

Realty Biz

If a parent or parents currently have a home mortgage and other debt, it would seem a bit of financial stress to take on a 2 nd mortgage on a separate mortgage. For the Family Opportunity Loan, the guidelines state that the debt to income ratio can be as high as 50%. Should you hire a real estate agent?

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How to Buy a House in 15 Steps: The Ultimate Guide

Redfin

Debt-to-income ratio (DTI) Another major factor that a lender will consider when approving your mortgage loan is your debt-to-income ratio (DTI). DTI is calculated by dividing total monthly debts by gross monthly income. Don’t forget to pick your agent’s brain and ask for their input.