Stanford Funding, Inc

Description

Get to know your Creative Home Mortgage Loan Officer. How do I choose a Loan Officer? The Loan Officer has a very important role in this transaction and should be able to rise to the occasion to get you a loan. You want to find a Loan Officer who is knowledgeable and hard working. Again, you will want someone who will answer all of your questions, and who will be available for your special needs and schedule. -Get pre-qualified or pre-approved for a loan. How do I get pre-qualified or pre-approved? What is the difference? At this point you need to know what your buying power is. One of our trained loan officers can have a pre-qualification for you in less than 20 minutes. Pre-qualification is simply a credit approval without verifying income or assets, and lets you know what purchase price you can afford to buy after asking you a few questions. If you actually fill out a loan application and provide proof of income and assets we will be able to give you a pre-approval. A Pre-approval will give you buying leverage when there are multiple offers on a property. -Choose a Realtor. How do I choose a Real Estate Agent? Keep in mind this is a person who will represent your rights in this transaction. You will want to find a Realtor who will answer all of your questions, and be available to your individual needs and schedule. Don't be afraid to ask them for references of the last three clients they worked with or what they feel might fit your criteria for a home. Communication is key in this relationship. -Choose a home to Purchase. How do I choose a Home? This is where the fun begins. You should have a list of features and criteria that the new home should have. From your list you should rate which features and criteria are the most important to you. Your Buyers Agent will then be able to filter out the housing market and narrow down a few good prospects to look at. When you find a house that appeals to you, have your agent schedule a viewing. Happy house hunting! -Sign a Purchase Contract. An offer is made submitting a purchase contract to the seller's agent, preferably through your buyer's agent. -What do you offer? Your realtor will advise you on how much you should offer. Things to consider when determining what price to offer include: how long the house has been on the market, how many homes similar to this one are for sale in the same area, will you be asking the seller to pay any of your closing costs, has the seller already lowered the purchase price, and probably most important, how bad do you want this house. -What if they reject my offer? Depending on what you offer, the seller may choose to reject your offer, so it is important to make a reasonable offer to begin with. But if for some reason the seller rejects your offer, you can always put in a new offer. It is rare that the seller flat out rejects an offer because your realtor and the seller's realtor will be talking to each other before the formal offer is made. It is much more common that the seller will counteroffer if he does not like the original offer. -What if they counter offer? Now you have a decision to make.

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