If you’re a first-time buyer intimidated by the process, don’t fret; it’s easy as one, two, three.
Despite popular belief, a big down payment isn’t necessary to buy a home, so long as you have the following three things:
1. Income. If a buyer has a stable or some sort of steady, dependable income, then very likely they’ll qualify for a house. The amount of that income, of course, will dictate how much house the buyer can afford.
2. Good credit. If a buyer has great income but bad credit, they’re simply not going to qualify for a home purchase. The only way you’ll be able to buy a home with poor credit is if you pay for it fully in cash (though nine in 10 homebuyers will require a mortgage).
3. A great agent. In this market, there are a lot of inexperienced agents out there who receive very little guidance from their brokers. There’s nothing wrong with new agents—I was once one myself. But if you’re seeking the best advantage as a buyer, and expect to negotiate the best price for the home you desire most (perhaps you just need expert help locating that elusive, perfect-fit home), a top agent will get it done.
A great agent will represent your best interests and help you negotiate any repairs that may be needed. Whether it’s someone on my team or an agent with a different group, I can’t overstate the importance of having professional help in the home-buying process.
If you have additional questions about the information covered in today’s message, or are thinking about buying or selling soon, feel free to call or email me. I would love to speak with you.