Where to Begin when Deciding to Buy a Home By Real Estate Expert Chris Griffith
There are stages to take when looking to buy a home. The Most Important is to get Approved for your loan!
Be Prepared to Contact your local Bank or Mortage Company for the Best Type of Loan and Rate(s). Rates are at Historic Lows and NOW is the Time to Buy! Taxes are another consideration to think about when Buying. The Less Taxes you pay then the more house you will get for your money.Your Real Estate Agent in Lakeland or Arlington 38002, Collierville TN 38017, or Germantown TN 38138/38139 will be able to give you a loan officer's contact information if you do not have someone specific and help to guide you through the home buying process.
Being Approved is Important because this will give you important information such as where you will be comfortable with a price range to stay within in buying a home. Also, the taxes and Insurance will be an average initially until you find the right home for you and your family. Once you find the right home then your local loan officer will be able to give you an estimate of the payment you will be responsible for paying each month. Your Real Estate Agent will need to know the type of loan you will be getting such as (FHA, THDA, Conventional,VA) and also will need to know how much needed for your closing costs and prepaids as well as a closing date.
All of this information will be helpful when you decide to write an offer on a property. Your Approval Letter will be most likely required to in order to submit an offer, especially for foreclosed properties, bank owned, etc.
Be Prepared to give your loan officer the following:
Past 2 Years W-2's
Most Recent Bank Statements
Most Recent Pay Check Stub
Past 12 Months Rental History (Proof in form of receipts,canceled checks,etc)
(For a complete List Contact Chris or your local loan officer)
For More information or Questions Contact Chris - I also will provide a local Loan Officer Contact if needed.
If you have questions about the loan process or questions about Real Estate information then please contact me directly at 901-461-5590 or email me at www.CGriffithRealEstate.com and I will be happy to assist regarding your Real Estate Questions or Contact(s).
