Your Journey
As a first-time home buyer, navigating the mortgage process can be daunting. I’m here to provide personalized guidance and comprehensive education on your options. Let me make your home buying journey smooth and stress-free.
Navigating the Home Buying Journey
Let me break down the process into simple steps:
Pre-Qualification
Determine your mortgage eligibility and set realistic expectations for your home-buying journey.
Pre-Approval
Secure a pre-approved mortgage amount to confidently start your home search.
Finding the Right Home
Discover the perfect home that fits your needs, lifestyle, and budget.
Securing the Mortgage
Lock in the best mortgage terms and finalize your financing options seamlessly.
Closing the Deal
Complete the final steps, sign paperwork, and get the keys to your new home.
Benefits of Working With Me
Discover how I can help you navigate the home buying process with confidence. My personalized approach ensures you understand every step, making your journey smoother and more enjoyable.
Personalized guidance tailored to first-time buyers
Simplified explanations of mortgage terms and options
Assistance in understanding eligibility and securing favorable terms
A partner to help navigate paperwork and deadlines.
First Home Purchase Made Simple
What is the difference between pre-qualification and pre-approval?
Pre-Qualification gives you an estimate of how much you might be able to borrow based on basic financial information. It’s a quick, informal process.
Pre-Approval is a more detailed process where a lender verifies your financial information and provides a conditional commitment for a specific loan amount. Pre-approval carries more weight when making offers on a home.
How much down payment do I need?
The required down payment depends on the home’s price:
- For homes under $500,000, the minimum is 5%.
- For homes between $500,000 and $1,000,000, it’s 5% on the first $500,000 and 10% on the remaining balance.
- For homes over $1,000,000, a minimum of 20% is required.
A larger down payment may help reduce your monthly mortgage payments.
What costs should I expect beyond the mortgage?
In addition to your mortgage payments, you should budget for:
- Closing Costs (2-5% of the purchase price): Legal fees, land transfer taxes, appraisal fees, etc.
- Home Inspection Fees: To assess the property’s condition.
- Insurance Costs: Home insurance and, if applicable, mortgage default insurance.
- Property Taxes and Utilities: Ongoing costs for maintaining your home.