Buy A Home Today
Are you in the market to buy a home? You’ve reached the right place. Contact us today or do a simple home search – give us a call when the time is right. Below is some useful information if you have further questions feel free to give us a call at 559-593-8302
Buying a home is an exciting time in one’s life. Making the smart move of choosing a REALTOR® is your first step to ensuring that your new home and community meets your needs. Our services and experience range from financial aid to helping you find the home that best suits you and your family. We pride ourselves on repeat business and hope you’ll come to understand why.
As Your Agent, We Will:
- Assure that you see all the properties in the area that meet your criteria.
- Guide you through the entire home buying process, from finding homes to look at, to getting the best financing.
- Make sure you don’t pay too much for your new home and help you avoid costly mistakes.
- Answer all of your questions about the local market area, including schools, neighborhoods, the local economy, and more.
Before You Start Looking For A New Home:
- Check your credit rating. Straighten out any errors before its too late.
- Determine a comfortable monthly budget for your new purchase, including down payment and monthly payment.
- Find a loan that meets your needs and get pre-qualified (preferably pre-approved).
- Choose a REALTOR® that you trust and who understands your needs.
- Determine what neighborhood best matches your needs.
- Identify important features you need your new home to have.
Closing Costs To Expect:
- Lender fees include charges for loan processing, underwriting, preparation and establishing an escrow account.
- Third-party fees include charges for insurance, title search, and other inspections such as termites.
- Government fees include deed recording and state & local mortgage taxes.
- Escrow and interest fees include homeowner’s insurance, loan interest, real estate taxes, and occasionally private mortgage insurance.
Are You A First Time Buyer?
Your first home search & purchase can seem intimidating, especially when it comes to getting a down payment. Luckily There are assistance programs for that exact issue! While qualifications and requirements vary, many programs are for first-time home buyers — defined as someone who has not owned a home in three or more years. Eligibility is most commonly based on the buyer’s income and sales price limits which vary by city or county.
Here are the Three Most common Down Payment Assistance Programs in America
#1 – Down Payment Assistance Program
Down payment assistance programs are normally soft second or third mortgages or grants, providing benefits such as zero percent interest rates and deferred payments. The assistance amounts will range from a few thousand to tens of thousands of dollars and can be used towards closing cost assistance, prepaids, and/or principal reductions. Most home buyer assistance programs are provided through municipal or quasi-government agencies or non-profits. Ask your real estate agent or mortgage lender about programs in your area. You can also search for down payment assistance programs at the Down Payment Resource Center.
#2 – Below-Market First Mortgages (AKA First-Time Homebuyer Programs)
Many larger housing finance agencies, particularly at the state level, offer first mortgage or first-time homebuyer programs to accompany their down payment assistance program(s). These programs often offer a below-market interest rate and may even have reduced closing costs or reduced fees. They are often funded by state housing finance agencies and may offer rates below what the normal market can provide, helping to lower buying costs and monthly payments.
The USDA also has two first mortgage programs for rural areas: the Rural Direct Loan and the Rural Guaranteed Loan. These USDA loans are primarily designed to help low-income individuals or families purchase homes in rural areas. Funds can be used to acquire, build (including purchase and site preparation to provide water and sewage), repair, renovate or relocate a home. These programs allow financing of up to, and sometimes more than, 100 percent of the selling price with no mortgage insurance requirements.
#3 – Tax Credit or Mortgage Credit Certificate (MCC)
The MCC is a tax credit designed to help first-time home buyers qualify for a loan by offsetting a portion of their mortgage interest on a new mortgage. Mortgage lenders will consider the estimated monthly amount of the tax credit as monthly income that will help a borrower qualify for a home loan. The amount of mortgage credit allowed varies depending on the state or local government issuing the certificates, but the IRS cap is $2,000 per year. The buyer may continue to receive the MCC tax credit as long as they live in the home and retain the original mortgage
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