Purchase a Home
Anyone who has ever bought a home can tell you how stressful, frustrating, and inconvenient the whole process can be. However, as a Real Estate Store client, we lessen the stress of home buying by personally taking you through the mortgage process.
Purchase a Home
The Old Way!
It used to be that when you decided to buy a home you would look in the newspaper, visit some open houses, talk to some Realtors or Builders, and eventually find the house you wanted. Then, you would make an offer on the house, and if your offer was accepted, you would meet with the mortgage lender to try to get a loan so you could buy the house.
A Better Way!
Before you even start looking at homes you make an appointment to meet with Sharon Nowlin of FNMC for Pre-Approval. She will run a FREE copy of your credit report and review it with you. She will analyze your income and expenses, and show you how much home you can qualify for.
Next, we will fill out loan application information. You will be given a list of everything you'll need to bring. Once your loan application has been taken, you can begin to look at homes with a Pre-Approval / Commitment Letter from Sharon Nowlin that explains the mortgage loan for a specified amount. This means that when you're ready to make an offer on a home, the Seller will know that you have already made arrangements for your financing, and that there is no question of your being able to come up with the money to buy the home. This puts you in a stronger bargaining position. This commitment letter is like having the money already in your pocket. Many of our customers tell us that they have been able to save 2-3% of the purchase price as a result.
Upon signing a real estate contract there will be an appraisal ordered on the home you decide to buy. (To protect you and the mortgage lender, an appraisal is done to make sure the property is worth at least as much as you are paying for it.) This means that you will be able to close on your new home at your convenience with no worries about whether you'll be approved. No last-minute request for additional documentation - no hassles! You can concentrate on moving into your new home