Why should I buy instead of rent?
You can deduct the cost of mortgage loan interest from your federal and state income taxes, as well as the property taxes you pay as a home owner. The value of your home will appreciate over time. And nothing beats the joy of having a place to call your own,
Should I use a Realtor®?
Absolutely! The detailed process of buying a home, qualifying for a mortgage and signing the papers at closing can be overwhelming for even experienced buyers. I can help you find a home to meet your needs and price range; negotiate the best price; guide you through the paperwork; and serve as a trusted advisor during the home-buying process - and beyond.
How much money do I need?
Costs will vary depending on the price of the home and type of mortgage. You can expect to pay earnest money (a good-faith deposit.....usually about 1%); a down payment (a percentage of the home and a minimum of 3-5 percent); and closing costs (the costs associated with processing the paperwork, usually 3-4 percent of the cost of your home).
Where do I get a mortgage?
Allen Tate offers a one-stop shopping approach through its Family of Companies, including Allen Tate Mortgage Services, which has access to many loan programs as well as in-house underwriting capabilities for FHA and VA loans. Allen Tate's Best Rate Guarantee program ensures you are getting the best loan package possible. You'll need comprehensive documentation to qualify for a mortgage, and the process generally takes about 3-6 weeks.
How much do I offer?
Consider the following: 1) recent comparable listing and sale prices. 2) condition of the home. 3) time the home has been on the market. 4) amount of mortgage required. 5) how much you want the home. Many sellers in today's market are highly motivated to sell to an interested buyer who makes a reasonable offer. I can help advise you on what makes sense.
