The state of California launched two programs last month to help those interested in becoming homeowners, and one of them allows first-time homebuyers to borrow a down payment at 0% interest
3 Steps To Achieve the American Dream
Dated: November 16 2021
The three steps to buying a house and achieving the American dream.
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A goal without a plan is just a dream. When we sit down with buyers in our initial consultation, we talk about your goals, your ideal timeline, and answer any questions about the market. Once we have all the information, it's time to take action.
The first step in the home-buying process is your loan pre-approval. We need to know what price range you're shopping in. Your lender will help you find it. They look at your credit, debt, income, down payment amount, and the property type that you're interested in. They assess all these things and find out if you are ready to buy. If you're not, they'll put a plan in place to get you there.
A home loan can be secured with a credit score as low as 580, and there are down payment programs within loans that require as little as 3% down. There are programs that fit just about every financial situation.
The next step is to start house hunting. We'll have you create your home wish list consisting of your home needs and your home wants. Home needs are your must-haves like a certain number of bedrooms, a certain location for schools or work, or a certain price point. Your home wants are things that would make the house extra appealing like hardwood floors or an open kitchen layout. We'll help you weigh the pros and cons of each property, and we'll educate you on all the active listings as well as off-market listings.
"The key to buying a home is having a plan."
The third step is to write an offer. Your Realtor will write up the residential purchase contract and help you navigate through the different terms and options in the offer. Submit the offer along with a pre-approval letter from your lender. That will tell the seller that you are qualified to buy the home. Once you get an accepted offer, we'll be with you through each phase of the purchase negotiations, while the lender works through the loan process to get your loan funded. Once the home is transferred into your name, we get the joy of handing over the keys to your new home.
The key to buying a home is having a plan and working with knowledgeable Realtors who will help you. If you're thinking about buying now or sometime in the future, reach out to us. It's never too soon to start the conversation and start preparing. We look forward to hearing from you.
Julie and Morgan are a mother-daughter duo making up the Sullivan Group! We are experts on the cities, towns, and neighborhoods as well as closely connected to the people who live within those limits.....