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The Ultimate Home Buyers’ Mortgage Guide

February 4, 2022

3 MINUTE READ

For many people, buying a home can feel like the fulfillment of a lifelong goal — finally enjoying the benefits of all of their hard work, savings, and planning. However, getting to the closing table requires several steps, some of which are not always easy. To make this goal a reality, it’s crucial to prepare well in advance and find a trusted real estate professional.

If you plan to buy a home in the near future, our team of experts is here to educate and help you enjoy a successful experience. Find answers to all your questions in our latest Ebook, The Home Buyers’ Mortgage Guide:

Steps Involved in Buying a Home

There are a number of steps you will need to take when purchasing a home, including:

  • Deciding what type of home is right for you
  • Choosing a real estate agent to facilitate your transaction
  • Setting a budget for your home and consulting with a home loan officer
  • Browsing available homes and finding the one that is right for you
  • Working with your agent to make an offer and negotiate on your behalf
  • Understanding the home appraisal and inspection
  • Closing on your home and preparing to move in

Interest Rates and Your Purchasing Power

How do interest rates affect purchase power when buying your next home? Among other factors, interest rates have a significant impact on how much home a buyer can afford. What many don’t realize, is how drastically the buying power diminishes with a relatively small rate increase. Our EBook illustrates specific examples and calculations of the relationship between buying power and rising rates.

The Importance of Your Credit Score

Your credit score is another important factor when it comes to buying a home. This comes as no surprise, given how much our overall financial well-being is tied to it. In our buyers’ guide, you’ll learn how the credit score is calculated and percentage weight allocated to each of these factors:

  • Payment history
  • Credit utilization
  • Length of your credit history
  • New credit
  • Types of credit in use

 

To learn more about buying a home, including these points and more, be sure to download our Ebook, The Home Buyers’ Mortgage Guide. And when you’re ready to take the next steps toward buying a home, we’re here to help.

Your home is your biggest investment, so make the most of it. Buy your new house with the power of cash, move in faster than ever before, and let a local Reali Agent handle the rest.

 

 

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