7 Steps to Buying Your First Home

1. Find Your Real Estate Agent - Interview 2 to 3 Buyer Agents pick the one you are most comfortable with. Make sure they can give you the service you need. Real estate agents who can send you daily emails of homes that fit your criteria will get you into your new home faster and save you money at the same time.

2. Complete Mortgage Pre-Approval - Stop! Don't pass go until you complete this step. The process takes 20 to 30 minutes over the phone, on line, or in person. This step determines whether or not you can buy a house and how much home you can afford. This step sets up the entire process all the way through closing.

3. Pick The Setting For Your Family To Grow - Rural, Suburban, In Town, City, On the Beach, In the Mountains, Subdivision or Acreage. The place your family settles depends a lot on where you grew up and your childhood experiences.

4. Determine What Type House Fits You - 2 stories, Rancher, Basement, no basement, Split Level, Cape Cod, Bungalow, Log Home, High Rise Condo, or Townhouse. The home style choices are not endless but after seeing a dozen homes they all start to blend together.

5. Select What Amenities You Want or Need - Eat in Kitchen, Formal Dining Room, Fireplace, Air Conditioning, Jacuzzi, 2 baths, 3 baths, 3 car garage, Patio, Deck, Screened Porch, Wooded Lot, Level Lot. The choices are limited only by your imagination and wallet.

6. What Schools Do You Want For Your Children - Public School, Private School, Parochial or Religious, How about Home School? In neighborhood walk to school, bussing OK? Mom and Dad drop off. Involve the kids as much as you can, this should also be their choice.

7. Don't Forget Your Transportation Needs - travel to work do you use public transportation, How about travel time 20 minutes 45 minutes or more to work OK? Special needs do you require access to medical facilities. Shopping and recreation some areas it's a 25 minute ride to get a gallon of milk.

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A Helpful Home-Buying Checklist for First-Time Home Buyers

For most people, buying a home represents the largest and most significant investment they will ever make. So it only makes sense to prepare for that process.

Here are seven things you can do to prepare for the home buying process, before you even begin shopping for a home.

1. Learn the home buying steps in advance.
When you understand the basic steps to buying a home, you will make better decisions along the way. This will help ensure a smoother real estate transaction. Mortgage and home buying lingo is a big part of this, so be sure to read through a few real estate glossaries before you get deep into the home buying process. The last thing you want is to sign a document that uses terminology you don't understand!

2. Review your debt-to-income ratio.
This ratio represents your amount of monthly payments (bills) compared to your average monthly income. Debt-to-income ratio is one of the things mortgage lenders will look at when qualifying you for a loan. Most lenders will prefer your debt not to exceed 20% of your net monthly income. If your debt is more than 20% of your income, it's time to pay down some of those bills. You'll have a much easier time qualifying for a loan if you do.

3. Set your home buying budget.
By using a mortgage calculator, you can get a pretty good idea of how much mortgage you can afford to pay each month. This directly corresponds to the amount of home you can afford to buy. Once you have an approximate budget in mind, you'll be able to limit your home search to those homes that fall within your budget range. This will save you a lot of time and hassle, while keeping your home search financially feasible.

4. Start saving your cash.
Unless you've just won the lottery, there's a very good chance you'll need some cash reserves during the home buying process. For one thing, mortgage lenders like to see that you've got some money saved for your settlement / closing costs. Secondly, the additional cash will come in handy for moving expenses, furniture purchases, home insurance, and all the other compiling costs that go along with buying a home.

5. Review your credit report.
Order a copy of your credit report and look it over for errors, inaccuracies, or anything that just seems odd. This is one of the first things a mortgage lender will do when considering you for a loan, so it makes sense to conduct your own review first. The easiest way to obtain copies of all three reports at once (from Experian, TransUnion and Equifax) is to visit www.AnnualCreditReport.com.

6. Fix credit errors quickly.
If you review your credit report and find something that doesn't seem right, go to the company's website who produced the report (TransUnion, Equifax or Experian) to submit a correction request. These companies are required by law to examine any reported errors on credit reports, and to correct them if necessary. But the process can take time, so you want to stay on top of it to resolve it quickly.

7. Get pre-approved for a loan.
During pre-approval a mortgage lender will review your credit report, income and overall debt to determine how much of a loan you qualify for. With a "pre-qual" letter in hand, you can be more confident about your buying power in the real estate market. It also shows sellers that you're serious about (and capable of) buying a home. This can be an important factor if the seller receives offers from multiple buyers, as they will likely consider those who have been pre-qualified above those who have not.



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Home Buying Website Checklist - 7 Sites Worth Saving

The Internet can help home buyers find the information they need to make smart financial decisions. But finding the right websites can take hours. The following list of essential websites will save you time and energy.

AnnualCreditReport.com
Long before you start looking at houses, you need to look at your credit. Mortgage lenders will analyze your credit, so you should do the same. You can start by requesting copies of your credit report from all three credit-reporting companies: Experian, Equifax and TransUnion. According to the Fair Credit Reporting Act, you are entitled to one free credit report per year. To request your credit report from all three companies at once, visit the website listed below. www.annualcreditreport.com

Mortgage101.com
If you need to brush up on your mortgage knowledge or use an accurate mortgage calculator, this is the website for you. Mortgage101.com is loaded with helpful tools, information and advice. Here's how the owners describe the site: "Mortgage101.com is a leader in educating online consumers about the mortgage process ... Developed in 1996, the website is visited by over 750,000 consumers monthly, connecting them to an online network of over 700 mortgage companies." www.mortgage101.com

Interest.com
Interest.com provides news, articles tools and calculators -- all pertaining to interest rates. Here's how the owners describe the site: "Interest.com is a trusted resource where you can learn about all aspects of personal financial products, and comparison shop financial products that best meet your personal needs." www.interest.com

Google.com/alerts
Keeping abreast of local real estate conditions will help you make smarter home-buying decisions. With Google Alerts, you can stay on top of your local real estate scene with virtually no effort. Just set up alerts for key phrases relevant to your area (like "buying a home in Chicago" or "Tallahassee real estate"), and you'll be notified via email whenever Google finds a new page with that phrase. Many of the notifications will come from news stories published online, which makes this an easy way to stay informed about local real estate developments. www.google.com/alerts

HUD.gov
The Federal Housing Administration (FHA) -- which is part of HUD -- has been helping people become homeowners since 1934. Their website offers home buying advice, links to related resources and (most importantly) an explanation of your legal rights as a home buyer. Whether you're a first-time home buyer or a veteran, you'll benefit from a visit to HUD's information-packed website. www.hud.gov/buying

NAHI.org
Home inspections are one of the best investments you can make during the home buying process. You'll only pay $300 to $500 for the inspection, but the peace of mind you get in return is priceless. To find a certified home inspector in your area, the best place to start is the official website of the National Association of Home Inspectors. www.nahi.org

HomeBuyingInstitute.com
If you're a first-time home buyer, you'll want to research the entire home buying process so you can have an idea of what to expect. There's one website that offers a good overview on every part of the home buying process, and that's the Home Buying Institute. www.homebuyinginstitute.com

* You may republish this article online as long as you keep the hyperlinks active.


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First Time Home Buying - Seven Steps to Success

Your first-time home buying experience can be stressful and chaotic, or it can be smooth and easy. The difference comes from having a solid plan and knowing what to expect.

The following checklist will help make your home buying process a smooth one:
Step 1. Review your credit and finances.

Mortgage lenders will put your credit and finances under the microscope. So before you begin the home buying process, you should review these things for yourself.

Start by requesting a copy of your credit report from the big three credit agencies -- Equifax, Experian and TransUnion. Review your credit report closely for errors. If you find an error, work to correct it right away, as the process takes time. For instructions on correcting your credit report, refer to the websites of the three agencies.

You should also review your finances to determine how much of a home you can comfortably afford. Use an online mortgage calculator to determine monthly payments based on total price. This will give you a rough idea of where your comfort zone lies.
Step 2. Learn about mortgages.

Once you've reviewed your finances, credit and purchasing power, you should start researching the different types of mortgages. Each type of mortgage has its pros and cons. Finding the one that's right for you will depend on many factors, such as how long you plan to own the home, how much you can afford to pay up front, etc.

When reading about the different types of mortgages, pay close attention to any sentence that starts with "This mortgage might be a good option for you if..."
Step 3. Visit HomeBuyingInstitute.com

At HBI, you can learn about the home buying process in depth. HBI is the Internet's largest library of home buying tips and advice, and best of all it's free!
Step 4. Make a wish list.

Now that you have a better understanding of the financial side of things, you can begin to create a home "wish list." Write down all the things you want from a home. Include the size, features, location, etc. Categorize each item on the list as a "need" or a "want." This list will save you time, narrow down your search, and help you stay focused.
Step 5. Find a real estate agent.

Even with all of the home buying information available online, it's a good idea to hire a professional real estate agent. When you consider how much money you'll pay for a new home, an agent's fee will seem miniscule by comparison. Combine that with the peace of mind you get from having professional guidance, and it's even more apparent why you should use an agent.

To find an agent, start by asking family or friends if they can refer a local agent they were happy with. If that doesn't produce any leads, try using search engines or the websites of well-known companies.
Step 6. Get pre-approved for a home loan.

Pre-approval from a mortgage lender will help you in several ways: (1) It will reveal how much you can realistically afford. (2) It will help you identify credit problems early on in the home buying process. (3) It will show sellers you're serious about buying (which can be helpful when there are multiple buyers / offers).


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The Home Buying Process: What Steps To Take

There are several steps to take in the mortgage process. The following is a list of the best steps to take in order to ensure a smooth and simple transaction.

1. Get Pre-Approved First

During the pre-approval process all the information necessary to complete a mortgage transaction will be collected. A pre-approval is substantially different from a pre-qualification. A pre-approval is the process of actually getting approved for a mortgage without having an actual property picked out yet.

Having a pre-approval helps substantially and will also help in negotiating with a seller. After all, a pre-approval tells the seller that your offer is already approved and informs them that you are ready to move forward with the purchase.

2. Making Verbal Agreements

There is simply no such thing as a verbal agreement in Real Estate. If there is something that you would like the seller to agree to, make sure they agree in writing. If there is a verbal agreement made, there is no feasible way to prove that that agreement was made. On the sales contract make sure everything that you are requesting is either agreed to or denied.

3. Find Your New Home

Now, with your pre-approval letter in hand it is time to search for your new home-to-be. Look at several properties, even if the first one you see seems as though it may be, "The one." Once you have chosen your new home write a sales contract and give a deposit. Then forward the sales contract to your broker to accompany the rest of the documentation you have provided. Due to the fact that you already have a pre-approval the loan process should be relatively quick.

4. Lock in Your Rate

It is important to notify the mortgage company that you would like to lock in your rate. Once a rate is locked you have a certain amount of time to close. You can lock a rate for 15 days, 30 days, 60 days, and in some cases 90 days. Once you have locked the rate, you are guaranteed that the rate will not fluctuate.

You also have the option to float the rate. If you float the rate and the rate goes down you could then lock at a lower rate. If the rate goes up you would be subject to a higher payment. It is always suggested that you lock the rate due to the volatility of interest rates. You may ultimately have to pay a higher payment if you decide not to lock your rate and rates increase.

5. Get a Professional Home Inspection

It is always wise to have a home inspection done. A home inspection is done by an independent home inspector. A home inspection involves the home inspector going through the home prior to purchase. In some cases a house that looks beautiful from the outside may have some underlying issues that may be unseen. It is important to know ahead of time if there are any issues with the property.

A home inspector will make sure all of the outlets work, that there is no water damage, and that all of the appliances work. They will assess all of the homes mechanical systems and make sure everything is in working order. They will also let the home buyer know of any current issues or any items that could become issues.

6. Close on Your New Home

Get a copy of all of the loan documents prior to closing. It is important to be able to read through all of the documents as time may be limited during the closing. Always call your broker ahead of time with any questions. Never close on a property without having ample time to review the closing documents.

After reviewing all of the documents set up a closing with the seller and your attorney. At the closing table make sure you have all the required checks and documentation. You should receive a checklist prior to closing. Remember, never sign anything you do not understand, and ask plenty of questions to make sure you understand.

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The Home Buying Process For The First Time Buyer

It is much better to pay a home mortgage loan and build equity than it is to rent and pay someone else's home mortgage loan for them.

By purchasing your own home you are investing in your own future. The possibility of owning ones own home is easily within reach, if there is someone there to help.

When buying your own home there are many programs specifically tailored to meet your needs.

The US government insures many of these programs which in turn reduces the risk for a lender. Due to the reduction in risk lenders are extending more credit to first time buyers than ever before.

In 2005 40% of home buyer's were able to finance their home mortgage loan with no cash down. This dramatic increase is due to government subsidized loans. Stop paying another persons loan and begin earning equity in your own home.

The best place to start is by getting a pre-approval. The best thing one can do is have a friendly experienced mortgage company to help you through the process. There are several steps that one should analyze as a first time buyer. All of these steps will help you in during your first home purchase and first home mortgage loan.

1. Get an idea of what you can afford

There are several factors, that when combined, will tell one what is affordable as a housing expense. It is best to contact a mortgage broker to help with the calculations.

Some of the criteria include, but are not limited to: income, current expenses, credit, down payment, interest, job stability, payment history, loan rate, loan term and closing costs.

2. Know your rights

You should receive a copy of a Good Faith Estimate or GFE. You need to know what the fees are associated with the home loan and the total cost of interest to you. These are called the closing costs.

Although getting a low rate loan is great, one has to realize that the closing costs have an effect on the annual percentage rate. The annual percentage rate is different than the interest rate. The annual percentage rate is a calculation that includes the interest and the closing costs.

It is illegal to be discriminated against based on your sex, creed, race, age, sexual preference and several other issues. You are entitled to know why you were not approved for credit if that is the case.

3. Shop around

There are tens of thousands of lenders and brokers in the United States. Find someone you are comfortable with. A lot of people do not realize that when one goes to a lender they can only take advantage of a program that the specific lender offers.

By utilizing a broker you are able to take advantage of the wholesale purchasing power of that broker. A broker can generally save money from what a lender would actually charge.

4. Understand the programs available to you

There are several government insured loans that can help to relax the requirements needed to get a home mortgage loan. Last year 40% of home buyers purchased their new home with no money down. This dispels the myth that one needs to put money down in order to purchase a home and get a home mortgage loan. FHA, VA, and HUD are three government insured loans.

5. Shop for a home

Finding the right home is a very important process. There are more factors involved than the home itself. Look at the school systems, the emergency service personnel, and the town or city government. Make sure the home you pick is in the place you want to live as well

Make sure you look at more than one home. Even if your first impression of the first home you look at is "This is the one!" take a look at a few more just to make sure. This, for most people, is the biggest purchase they will make in their entire lives. Take your time and be sure about the right home.

6. Make an offer

When making an offer make sure everything is put in writing. What items you would like included. Things like curtains, blinds, fixtures, chandeliers. All of these things should be listed on the purchase agreement to make sure you are getting what you requested. Simply because you place an item on the purchase agreement does not mean the seller will agree to it. It does mean that it will at least get addressed and will be factored during the negotiation. Make sure you make the sale contingent on a home inspection and have everything put in writing.

7. Have a professional inspect the home

Hire a professional home inspector. The home inspector will go through the home and make sure the home is in good condition. Although a home may look beautiful from the outside, there could be some underlying issues that would change your opinion. The home inspector will make sure all of the mechanical and electrical systems are sound and will also make sure there is no damage from water, rodents or insects.

8. Shop for home owner's insurance

There are plenty of insurance companies out there. Just like auto insurance, the premiums can vary greatly between companies. Check several companies and make sure you are getting a good price for the coverage you need.

9. Close on your first new home

When closing on a home it is very important to read everything that you sign. It is important to get copies of the documentation prior to closing so you can go through them. You need to be able to address any concerns prior to the final signing date. If everything is in order, receive your keys, and move into your new home.


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7 Shortcuts to Internet Home Buying

Searching for a home is becoming easier every day with more access to web sites across the country Realtor.com is the king of real estate listings. There are real estate company sites such as ColdwellBanker.com and Remax.com where you can access the local affiliates and all their listings in the US, Canada, or International. Or a little back door play is to go to the state board of realtors where they list all the local realtor boards and the local MLS sites.

1.Realtor.com – The number 1 real estate web site bar none. It is comprised of all the local MLS realtor board listings. It has all the visual and virtual tours and more photos than the local MLS systems allow. Local real estate agents will pay to get good positioning on the webpages for advertising when their local area is requested you see them first or at least in the top six. You can also request information about any of the listings on the site and you will normally receive a response within 24 to 48 hours from the better agents. One draw back is that realtor.com is sometimes 3 to 5 days behind the actual listing date.

2.ColdwellBanker.com – The number 2 real estate web site. Has easy access to its real estate listings around the world. The “Personal Retriever” feature allows you to enter in your criteria and will notify you of any updates or new listing you can select to have the emails sent daily or weekly. Coldwell Bankers “Lead Router” system is state of the art in high tech features when you request information on any of their listings your request goes one stop and then directly to the agent’s phone who listed the home. During normal business hours you should get a return call within minutes with all the up to date information directly from the listing agent. No other real estate company or lead source has anything that approaches this system.

3.Remax.com – The number 3 real estate web site behind ColdwellBanker.com. Still has a long way to go your basic site allows you to search listings has local information available from the local franchise sites. Doesn’t approach anything like the “Lead Router” or “Personal Retriever” of ColdwellBanker.com. You can get easy access to their Remax listings.

4.Realtor Pay for Leads Sites –These companies sell you to real estate agents and mortgage brokers. You log on to the web site select the city and the zip code where you want to buy or sell a house and enter all your required personal information. The agents who have paid for you at $200, $400, $600 per month or $40 to $80 per lead decide based on your zip code and price range if they want to work with you in buying or selling a home. The pitch to you is that you pick the agent and there is a little truth to that because you do get to chose between 2 or 3 agents. The fact is that many people filling out all this personal information don’t get to choose an agent at all. The agents don’t take the leads because you are either buying or selling in the wrong price range or zip code. Its one of those little steering or redlining things that slips under the federal and state government’s radar.

5.Realtor Association and MLS – Searching local realtor associations by entering a search by state for realtor association this will bring up the state association and all the local associations within the state. Then you will have access to the public side of the local MLS. Some are now directing you to Realtor.com to see the listings.

6.All the Other Sites – Miscellaneous sites, sale by owner sites, agent sites, smaller real estate company sites, local company sites all have useful features but can’t give you everything you are looking for.

7.Your Real Estate Agent - When you get down to working with an agent, the internet savvy agent will have all you need. They will set you up on a VIP Buyer or Seller program very similar to Coldwell Banker’s “Personal Retriever” and your access to your agent will be better than “Lead Router” because you will have all of the agents contact numbers.

Searching for your home on the internet can be easy if you take your time and don’t get sucked into any on-line site that sells you and your information to the highest bidder. Remember local Chambers of Commerce, School Districts, and City web sites have great information about the local area. Keep a file in your favorites of all the websites you find useful.




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First Time Home Buyers: Tips to Buying Your First Home that will Reduce Stress and Buyer's Remorse

The purchase of a first home is likely to be the biggest one-time purchase in your life. There is a huge shift from living with family or renting, to owning a home. It can be an overwhelming experience and at times you may feel that you are barely keeping in step with the process. We are now at a point in our lives where our children are buying their first homes and we see the worry and signs of stress that make this FIRST BIG PURCHASE such a momentous event for them. The learning gained from buying a home and selling a house six (6) times - four different cities and two different provinces - has given us experiences that we share here with our children. The tips we can give you when going through the mind-game process of buying a home are insightful and are especially for people just like our children - first time home buyers.

Every step along the way to becoming a property owner brings a new rush of questions.

This first-time home-buying torrent of questions can, at times, feel like you are fighting river rapids in a kayak. Just like novice kayaker, it is fear of the unknown in home-buying that creates the stress.

Can we afford this house?

Did we pay too much for this property?

Will we be able to make the monthly payments?

How will we pay property taxes and still have money for any maintenance and renovation costs?

Will we have a mortgage forever?

Notice most questions and fears are centered around finances. Not surprising then that this big purchase would cause you stress. Finances or Money is the number ONE cause of stress in our lives.

Our experiences can be the information that can help you steer the ship named 'Home Equity'. Equity - the difference between the market value of a property and the claims (loans + mortgages) held against it.

Here are a TEN pointers that helped us and can help you through the psychological aspects of buying your first house (you might even experience an adrenalin rush):

1. Accept that buyer's remorse will happen and it could overcome you early in the process of purchasing your first home. Buyer's remorse is a natural feeling where we doubt ourselves and question our purchasing actions. It may last for months after you buy. These are natural feelings to have; a home is a large purchase with significant impact on your lifestyle. Remorse will give way to a contentment as you make this house your home. Buyers remorse usually lessens as you become more experienced in buying and selling houses.

2. Buy a House, Sell a Home. Buy to resell. Buy with resale in mind. Remember that this is your FIRST house purchase, and not likely to be your last. Within 3-10 years of buying a house you are likely to sell and buy a second, third, or fourth house. Perhaps you will buy more than that number. No matter the number of houses you buy, do so with the view that you will re-sell, make a profit, buy UP (larger home) and/or reduce your mortgage on subsequent house purchases.

3. Pay the minimum Down Payment on your first house – unless you are paying 25% or more against the total price of the house (this may provide you with some relief on the mortgage rate), THEN pay the minimum. Use your cash for legal fees and transfer taxes PLUS for household improvements (like painting), maintenance and furniture/appliances/tools purchases. Remember point number “2” - this is your first home.

4. Don't make yourself 'house poor' - Amortize your first mortgage to the limit (25 years plus). This will reduce the impact to your monthly cash-flow (mortgage + interest payments). Don't concern yourself with paying down this FIRST mortgage in 5, 10 or 15 years. You expect to build equity in your first home to apply to your next home purchase(s). Remember item “2” - this is just your first home.

5. Loans and Mortgages are a Fact of Life – settle into the idea that you will likely have a mortgage and some form of loans for most of your working life. Unless you come from “material substance”, i.e. money, or have won the lottery, you will have large debt for most of your life. Accept that you are likely not to be in a position to eliminate your mortgage until you have worked 20-25-30 years.

6. Shop around for your mortgage – mortgage hunting can be an exciting thing. Use it as a learning experience. Bankers, Mortgage brokers and Real Estate agents all want to give you the money! Talk to other first time home owners. Compare interest rates, terms of mortgage and payout penalties. It's a numbers game - have fun with this financial aspect of home ownership by familiarizing yourself with financial terminology and ask those 'mortgage financiers' to break it down into layman's terms so you can understand it.

7. Separate an 'emotional' buy from a 'good' buy – this ONE THING will be your biggest hurdle, causing additional stress between a couple in their hunt for the first home. Real estate agents may try to leverage (manipulate) this couple tension to their advantage – like getting you to buy beyond your means or buy NOW because other offers are on the table. As difficult as it may become, agree as a couple that if things are not right for you as a couple that you are willing to walk away from any house deal on the table. Be vigilant in reaffirming this point to each other.

8. Create a “Must Have / Would Like” list of features - accept compromise as an element of home buying – unless your first home is custom built, accept that you will need to compromise on some of the features you have on your list of features. Remember item “2” - this is just your first home. Getting all the house features you want requires a longer term view – a goal on your next home.

9. Scope out any neighborhood in which you want to own a home – just like test driving an automobile before you buy it, walk around your potential neighborhood. Check out schools, shopping and city hall (use the web) for zoning (building projects), crime levels and types, community involvement. Talk to people who live and work in the area you are considering a home purchase.

10. Accept the fact that your current social lifestyle may shift a bit – entertain at home instead of going out on the town; mowing the lawn and garden maintenance might replace some of your gym activity; interior decorating and carpentry become new hobbies to replace Nintendo and X-Box.

11. Breathe – Breathing is good. Enjoy the rigors and rewards of home ownership. Learn and continue to educate yourself on home ownership.

First time home ownership can be a highly stressful situation. But buying your first home can still be a wonderful experience. Home buying and home ownership should complement your life and relationship with your spouse and family. You may want to do it more than once. Buy a House – Sell a Home. Make your house the home that others will want to buy. Be the Consumer, Not the Consumed.

Carl Chesal is a business and channel development consultant, trainer, photographer, and hobby carpenter. He operates BizFare Enterprise Inc and Home And Body How To, which provides Luxury lifestyle amenities like mohair bear collectibles, sports and music memorabilia, home and garden accents, cooking, recreation and music equipment.


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Put Fun with Your Home Buying Process at Tampa Real Estate

Tired of renting? If so it is time for you to purchase your own home. In buying a home in Tampa real estate, it would be better to put some fun together with your buying process.

The biggest purchase that you can do is buying a home. But instead of worrying and making it stressful on your part, it would be better to make your home purchase with fun. Some people thought that buying a home in Tampa real estate or to any other real estate, they will find it very stressful and difficult because of the legal aspects, dealing with the broker or real estate agent, choosing a mortgage company and option, other buyer concerns that they need to face.

In order for you to make your buying process at Tampa real estate with lots of fun, you have to add a bit of humor and wit.

There are some ways you need to know and do to make your home buying process successful and with lots of fun.

You should ask yourself if you really can afford to do the payments for the home that you want. You have to be true and honest with yourself. So it would be better to settle your finances first and foremost. Go to few mortgage companies and ask questions. You have to get the necessary information you need about getting a mortgage. Ask for options. Weigh things out. Compare each mortgage companies, and then choose wisely. It is wiser to choose the one that can give you plenty of options and willing to explain each option to you, and the one that can give you the best option you need.

In applying for a mortgage, you have to make sure to have a pre-approved mortgage before going on to the next step with your home buying process. Having a pre-approved mortgage, you can determine which type of home you can afford to buy and you can also consider the monthly payments that you should settle each month for the home mortgage.

In buying a home in Tampa real estate, you also have to allocate some time to know the market. You have to gain the necessary information you need about the market. There are lots of means for you to have the information you need; it can be through newspapers, advertisements, referrals, brochures and internet. You can also take time to talk to the people in Tampa real estate, in order to gain information, you can learn through their experiences. So take time to visit some homes at Tampa real estate.

Working with a real estate agent is a helpful factor that you can consider in your buying process at Tampa real estate. Asking for recommendation from family and friends can be helpful in finding the right real estate agent for you. Try to call at least 3 real estate agents, take time to interview each agent. Weigh their skills, abilities and experiences. Then choose the best one for you, make sure to choose the one that you will be comfortable to work with.



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Buying a New Home - Home Buying Tips

If you in the process of looking for your first home, there are some essential steps that you should be aware of. Many times, people fall in love with a home and rush into the deal—not considering some important issues. Unfortunately, many of those people end up unhappy with their purchase or end up with a deal gone bad.

Avoid this by following the suggestions below and ensuring that you have thought out your purchase thoroughly.

The most important consideration should be the sales price of the home. Just because it’s the best home in the neighborhood, that doesn’t mean that you should pay a lot more for it. In fact, experts tell us that the “best” house in the neighborhood probably won’t sell for much more than the other homes in the area. You should look to pay not more than 10-20 more than the other homes in the area—no matter how much nicer the home is. Anything higher than that is based on emotion—not business—and will probably cost you when you go to sell it.

Next, you should take a serious look at the neighborhood itself. How are the school systems rated? Even if you don’t have children this is important because when you go to sell the home, your buyers might. Is the house located in a convenient area, or would you have to drive excess miles to do your grocery shopping? In addition, you should visit the area in the day time, as well as the night. Does the “feel” of the area change when it’s dark, or does it still look like a nice place to live?

Finally—and perhaps most importantly—don’t get caught up in “house fever” and commit to buying more than you can afford. One way to do this is by being pre-approved by your mortgage company. This will tell you exactly how much you can afford to pay, and that will automatically slim down your options. A good rule of thumb when you’re shopping is that your mortgage payment shouldn’t exceed more than 36 percent of your income.

To view our recommended home mortgage lenders or to read more articles about bome buying, visit: Recommended Mortgage Lenders Online.

Carrie Reeder is the owner of ABC Loan Guide. It is an information website with articles and news about various types of loans.


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