Buying a Home Requires Many Difficult Decisions. Make Sure Your REALTORS® are Top Local Experts. Many things will determine whether or not you will find the perfect home quickly and for the best value possible. As expert Realtors, we members of the Elite Real Estate Team are happy to share our secrets with you here. Buyer Tips
How much
house can you afford?
Why you should work
with a Realtor®?
Choosing a Realtor®?
GETTING STARTED
Before You Start Looking For A Home You
Should Ask Yourself A Few Questions.
- Where do you want to live?
- Do you want to be close to schools,
shopping, or work?
- What kind of house would like (need)?
- Are you looking for a particular style?
- How many bedrooms and baths do you want
(need)?
- Do you want a yard?
- And the biggest question, "How much House
can you afford?"
Please Find Listed Below A Few Tips To
Get You Organized.
- We can assist you with pulling a credit
report and finding out how much house you actually qualify for. This is a free
service we provide to any potential "client". Takes just minutes! This is the
first step in the home buying process. This way you are not looking at homes
you can't afford and end up being disappointed.
- Pick up the local Homes of the Greater
Fort Hood Magazine and The Real Estate Book. These books are at all of the
local super-markets, Wal-Mart, etc. Browse through all of our local listings in
the Fort Hood Area, and remember…"WE CAN SHOW YOU ANY LISTING AND SELL YOU
ANY HOME ON THE MARKET"!
- Visit open houses on the weekend, they
are free and it gives you an opportunity to view many new and re-sale homes,
and remember…"WE CAN SHOW YOU ANY LISTING AND SELL YOU ANY HOME ON THE
MARKET" ~ New or Re-Sale!!
- We can sit down and show you how much
money you will need to purchase a home. Some homes in the area whether you
finance FHA or VA only cost $1.00 to move-in. Let us show you what's out there!
Don't incur any additional debt! Try
to pay down your credit cards and/or pay off any loans. Don't apply for any new
credit cards or loans through this time frame. If in doubt, ASK before you do
anything that might affect your credit! We're a phone call away!
How Much House Can You
Afford?
- Simply put, you can afford a house that
costs as much as the largest monthly mortgage payment you qualify for. A quick
way to estimate the size of mortgage you qualify for is to take your gross
monthly income (that's before taxes and other deductions) and multiply it by
.28. This works out to just over ¼ of your gross income.
- Mortgage companies use something called
"qualifying ratios" to determine how much they'll lend you. Most mortgage
companies use either a 28/36 ratio or a 25/33 ratio.
- The first number in each pair is the
percentage of your gross income that the lender would consider acceptable as a
monthly mortgage payment (i.e. if you make $3000 per month, 28% of that is $840
per month).
- The second number in each pair is used
when all debt payments are considered, not just the mortgage. (ie. if you make
$3000 per month, but also have a $250 a month car payment, 36% of $3000 is
$1,080, minus the $250 car payment equals $830).
As you can see, in this example the
numbers work out to be almost the same. Obviously if you have more debt you
would qualify for less.
Let's see how much you qualify
for…Remember, it takes just minutes!
WHY YOU SHOULD WORK WITH A
REALTOR®:
Working With A Professional Realtor®
To Buy Your Home Is A Good Idea For Several Reasons:
- First and foremost, Keith holds the
designation of ABR, standing for Accredited Buyer Representation. He and his
team members look out for the needs and wants of their buyers and negotiate in
their best interest.
- We will analyze your financial situation
to help you determine how much you can afford.
- We are familiar with the process of
buying a home and can explain things to you.
- We can easily access information on all
properties listed for sale by any Realtor® in the area.
- We can set up appointments for you to
view homes that interest you.
- We can help you complete all of the
necessary paperwork when it comes time to make an offer.
- We are a phone call away through the
entire buying process.
- We can help you arrange financing.
We will be there at closing to answer any
questions you might have and make sure everything runs smoothly.
Choosing a Realtor® that
is Responsive to Your Needs:
Searching for your dream home can be a
time consuming experience. Working with a professional Realtor® will
make the process much more efficient. The following are the reasons why you
should choose Keith as your "BROKER":
- Reaching your real estate agent is of
utmost importance when you have questions on your mind…you will always
reach Keith or his TEAM! Direct Line: 254.526.3607
- We will sit down with you and determine
what you want/need in a house by asking you questions!
- Our Loan Officer and we will perform a
financial analysis to help you determine how much house you can
afford.
- We will explain things
clearly…there is no such thing as a "stupid" question!
- We will suggest different ways of
financing to suit your pocketbook!
Selling Your Home >No Risk Listing
Here is a seller scenario that may help you make your next move. Once you have decided to sell, you might be afraid to put your present home on the market until you have found a new one and completed purchase negotiations. You are concerned that most sellers are reluctant to finalize offers from buyers who must include a contingency calling for the sale of a current residence before buying the new one.
If you are in such a dilemma, the first step is to contact a professional real estate agent. The agent can show you how to list your home without the risk of putting your family out on the street. When you have a firm contract from a qualified buyer, you will become much more attractive to sellers. When you do find the perfect home, you will greatly increase your chances of being able to buy it.
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| Q |
What is the least affordable metropolitan housing market in the United States?
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| A |
California's Los Angeles-Long Beach-Glendale is currently rated as the most expensive metro area in the nation. |
 See More Real Estate Trivia > |
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- NUMBER1EXPERTS™ 
