FAQ for First Time Homebuyers
1. Why should I buy instead of rent?
A rental is not an investment. Every month you write a check to pay someone else’s mortgage, and the only return for that money is a roof over your head. When you own a home you can deduct your mortgage from federal income taxes, you’ll have equity in your home, and most importantly, you’ll have an investment.
2. I have bad credit and do not have much for a down payment, can I still buy?
Absolutely. The best way to find out what you can afford with your financial situation is to get pre-qualified. The sooner the better. When you work with a lender they will work with you to find the best loan option for your circumstances.
3. How do I find a lender?
We have an amazing list of vendors that we recommend to all of our clients. If you’re interested in learning more, give us a call.
4. What if my offer is rejected?
This is okay, and should never scare you away from the buying process. This just means it is time for some negotiating, which your agent will handle. The seller may be expecting more money or not agree to certain terms in your offer. Negotiations can go back and forth several times, but soon enough each party will agree to a common ground, and the deal will be made!