home buyer guidebook presentation
Post on 13-Jun-2015
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DESCRIPTIONThis is a presenation that is very helpful for first time home buyers.
2. Buying A New Home Congratulations!
- There are many steps to purchasing a new home and as yourColdwell Banker Sales Associate, I amready to guide you along the way.
3. Steps to Get Started
- Determine your budget and how much you can afford.
- Get pre-approved for a mortgage.
- When applying, youll 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.
4. Getting Approved
- A lender will check your credit to see if youre 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.
5. 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.
- Beingpre-approvedmakes you a more attractive candidate to the seller when making an offer.
6. 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.
7. 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
- Attorneys fees
8. 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
9. Multiple Listings Open Houses & Special Features
- As yourColdwell Banker Sales Associate, I can show you every home available on the market that meets your specific needs.
10. Online Access
- coldwellbanker.comprovides access to over 250,000 properties.
- A few unique features include
11. Online Access
- 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.
12. Writing the Offer
- Once youve 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.
13. 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.