How To Get Started, Buying a Home With Us
For Sale Searches in Tampa Bay
Its 2022 and in todays real estate market, there are so many user friendly resources available. on this page we will help you find these resources and make it easier for you to help yourself, as well as allow us to help you with all your needs.
As soon as you can, start researching neighborhoods that may meet your lifestyle. Does it have a dog park? Great coffee shop? Amazing schools? Do your research and make a shortlist of potential neighborhoods. Then, make a note of particular homes you are interested in and see how long they stay on the market. Also, make a list of things a home absolutely must have to make it on your shortlist. This will give you a sense of the housing trends in specific areas.
Want to know what’s on the market today?
Step 2: Determine How Much House You Can Afford
Lenders generally recommend that people look for homes that cost no more than three to five times their annual household income if the home buyers plan to make a 20% down payment and have a moderate amount of other debt. But remember, you don't need to have a 20% downpayment. In some cases, a down payment of 3.5% is enough to get you into a home!
Are you not sure about what you can afford? Many banks and financial websites have affordability calculators that can help you estimate what you could afford. You can also use this home loan analysis to get more information.
Step 3: Get Prequalified and Preapproved for credit for Your Mortgage
Before you start looking for a home, you will need to know how much you can actually spend. The best way to do that is to get prequalified for a mortgage. To get prequalified, you need to provide some financial information to your mortgage lender, including your income, savings, and investments. Your lender will review this information and tell you how much you can afford. Later, you can get preapproved for credit, which involves providing your financial documents (W-2 statements, paycheck stubs, bank account statements, etc.) so your lender can verify your financial status and credit.
