Frequently Asked Questions
Am I Ready to Be a Homeowner?
Only you can determine if you’re ready to be a homeowner. Consider factors such as your financial stability, job security, and personal goals.
Is Renting or Buying Better?
Renting and buying both have their advantages and disadvantages. Consider your personal situation and goals before making a decision.
What Is the Lender's Formula?
The lender’s formula takes into account your income, debt-to-income ratio, credit score, and other financial factors to determine how much you can borrow for a mortgage.
What Do I Look for in Homes?
When looking for a home, consider factors such as location, size, amenities, and price. It’s important to prioritize your needs and wants.
Do I Need a Home Warranty?
A home warranty can provide additional protection for your home’s major systems and appliances. Consider your personal situation and the age of the home before deciding if a home warranty is right for you.
What Should I Expect at Closing?
Closing is the final step in the homebuying process, where you sign all the necessary paperwork and officially take ownership of the property. You can expect to review and sign several documents, pay closing costs and fees, and receive the keys to your new home. It’s important to be prepared and ask questions if you don’t understand something during this process.
What Is Pre-approval?
Pre-approval is a process where a lender reviews your financial information, credit history, and other factors to determine how much money they’re willing to lend you for a mortgage. It’s an important step in the homebuying process, as it helps you understand your budget and gives sellers confidence that you’re a serious buyer.
Am I Ready to Rent?
To determine if you’re ready to rent, consider your financial stability, job security, and personal goals. You’ll also need to find a suitable rental property.
What Should I Offer?
When making an offer on a home, consider the seller’s asking price, the home’s condition, and comparable home prices in the area.
Can I Ask You for Advice?
As a real estate agent, I’m here to provide advice and guidance throughout the buying or selling process. Don’t hesitate to reach out if you have any questions or concerns.