First Time Home Buyers

Posted by on Friday, December 19th, 2014 at 9:43am.    1693 Views

Buying a Home; First Time Buyer Information:

So, you are a first time home buyer and have some questions about the home buying process. Perhaps this information will be beneficial to you. In addition to the information below, our site contains a lot of very valuable information about the home buying process, etc. CLICK HERE.

first time home buying, first time buyer, buying a homeWhen embarking on one of the most expensive journeys of your life, you should take the time to do some research first. The internet has a plethora of available websites offering information about the home buying process. I realize that it can be very time consuming as well as complex, so, I will try and make things very simple and easy to understand.

Do you know where your credit stands? This is by far one of the most important things to consider when you plan to purchase a home. Perhaps there are some blemishes on your credit report, some that you might not even be aware of.

Mortgages are mostly credit score driven; the better your credit, the better your chances of buying a home are. Also, the better your credit score, the better your interest rate and/or mortgage program may be.

There are numerous down payment assistance programs available as well as city or county grants. In most cases, you will need to have at least a 640 average minimum score in order to qualify for one of these programs. In many cases, you might even qualify to purchase a home with no money down. (no down payment)

Lenders have been loosening their minimum credit score requirements lately. Some lenders are now offering a mortgage to consumers that have an average credit score in the mid to higher 500 range. However, keep in mind, the lower your score, the more hoops and hurdles you will have to overcome. Also, most likely, your interest rate will be higher than a person that has a much higher score.

Most home sellers will not even consider your offer on their home unless it is accompanied by a lender’s pre-approval letter. The seller needs to know that you have the financial ability to complete the purchase of their home before they agree to accept your offer. So, getting a lender pre-approval letter is a must before you even begin shopping for a home.

Finding a Professional Buyer's Agent

Now that you have taken the necessary steps to be prepared with a mortgage pre-approval letter, it is time to find a professional Realtor to assist you. It would be in your best interest to read some of the previous client reviews about your Realtor before making a final decision to work with them or not.

There are many sites that afford you with the ability to see some reviews of agents. For example; if you are looking for a home in Monroe, try searching on Zillow or Trulia and looking for an agent that has the most and best consumer reviews. Understand, it can be difficult for an agent to accumulate a lot of reviews as many consumers simply do not take the time to submit one.

I work the entire SW Ohio region and would be glad to assist you with your next home.

If you would like to see some of my reviews, check out my Zillow profile or perhaps my Trulia profile. I sell between 30-50 homes each year, but you’ll see that not all of my clients have submitted a review of my services. You will also notice there are not any negative reviews. If a client had a bad experience with me, they would have surely taken the time to submit a bad review. I’d like to think that all of my clients have had a very positive experience when working with me.

How much does it cost you for my professional services, protection and representation? Nothing, nada, zilch! The seller is responsible for paying all of my brokerage commissions. It doesn’t cost you anything at all if you decide to work with me.

I can even help you should you decide to pursue a “for sale by owner” home. IF the FSBO refuses to co-operate with a Realtor, perhaps they have something to hide?

I will continue to post helpful tips and information on my blog forum, so feel free to subscribe to my blog via the RSS Feeder located at the top of my blog page. If you are not able to find it, simply let me know. You may also check out all of my previous blog articles by simply clicking on my name located near the top of this post as well.

Have a wonderful Holiday Season and I will be back again soon. If you need my assistance with anything, simply let me know!

4 Responses to "First Time Home Buyers"

Greg Hancock wrote: Hey Marty, excellent post and points.

A lot first time buyers for 2015 are still in the information gathering stages. After reading your post, I decided maybe it was time to post some information about the upcoming changes for 2015 lending practices, credit score requirements and rate projections for next year.

Too true about working with a professional buyers' agent. Why on earth a buyer would want to contact the listing agent is beyond me, especially when the listing agent promised to net as much as possible from the sale of the property for the seller.

Posted on Saturday, December 27th, 2014 at 11:35am.

Marty Snyder wrote: Thanks, Greg. Your blog roll contains a lot of very informative and useful posts to help home buyers and sellers alike.

As far as a buyer working with a listing agent on the purchase of a home; some people think they can get a "better deal" by going straight to the listing agent. In almost all cases, this is simply not true! I work mostly with buyers and the sellers are responsible for all of the brokerage commissions, so in my opinion, there is no valid reason that a listing agent can score a better price for a buyer than I can!

Posted on Saturday, December 27th, 2014 at 1:34pm.

Derrick wrote: This was very useful for me. I set about buying a home last year, but didn't follow through. I was calling listing agents, and they were nice and professional but never dawned on me they were representing the seller, duh. This year if it all works out right, I'm going to remember this and find a buyers agent in my area. Do you help people buy homes around Piqua?

Posted on Saturday, January 3rd, 2015 at 12:58pm.

Marty Snyder wrote: Thanks for your comment Derrick. There is a plethora of information to be learned when buying a home. As a professional buyer's agent, I take the time to make sure that my clients are a professional home buyer by the time we get to the closing table. I'll be glad to help you when the time is right. And, yes, I can assist you in Piqua.

Posted on Saturday, January 3rd, 2015 at 1:33pm.

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