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First time buyer

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This document provides information about buying a home, including why 2012 is a good time to buy due to low prices and interest rates. It outlines the steps to purchasing a home, including getting pre-approved for a mortgage, finding an agent, making an offer, completing inspections and appraisals, and closing. Requirements for obtaining a mortgage like income documentation are also listed. The importance of home insurance is emphasized by the analogy that just like cars require insurance, homes should be insured as well. The document encourages readers to ask any questions and states the presenters look forward to providing future assistance.

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Brought to you by: Michael Maynard Michael Cross Dana Gregorio New Neighbors Realty Tri State Mortgage Bearingstar Ins (203) 464-1168 (203) 284-8022 (203) 815-6729
Why Buy in 2012? Steps to Purchasing a Home How Do I Get a Mortgage? Do I Need Insurance? Your Turn!
Low prices on homes due to poor job market and economy Rents are more expensive than ever before Mortgage rates at all time lows! Mortgage interest is a tax write off Always a plus to see your money go towards you owning it, as opposed to throwing it away on rent
1. Mortgage pre approval Meet with your loan officer to decide what your options are. Make sure to have a monthly mortgage payment you are comfortable making. This helps you see how much you can afford! 2. Find an Agent to help you search for a home Are you looking for a starter home or something to raise a family in? Big house or big yard? Maybe both? These are some questions you may be asked, so start thinking about what would be right for you.
3. Make an Offer! Sit down with your agent and talk about comparable homes in the area to see where you should start the bidding. 4. Offer Accepted! 5. Home Inspection A home inspection is not required, but strongly recommended. It is worth a few hundred dollars to see what you are exactly purchasing.
6. Mortgage Documents Meet with your loan officer to start the mortgage process. Take your pre-qualification to a final approval! 7. Appraisal Mortgage companies require an appraisal to be performed to find a value of the home. 8. Get Home Insurance! Your Mortgage Officer will ask you for an insurance binder. Check to see if you are in a Flood or Hurricane Zone 9. Close and Move In!
Meet with a loan officer and discuss your options. Your Income Ratio (Debt/Income) will help decide your highest available payment. You will Need the following documents when meeting with your loan officer: Last 2 Paystubs Last 2 years W2s Bank Statement Photo Id
You dont drive your car without insurance, so why wouldnt you insure your home! There are a variety of different insurances from regular home policies, to flood, to covering your personal things in a condo or apartment
What Questions or Concerns Do You Have For Us?
We Look Forward To Helping You In The Future!

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First time buyer

  • 1. Brought to you by: Michael Maynard Michael Cross Dana Gregorio New Neighbors Realty Tri State Mortgage Bearingstar Ins (203) 464-1168 (203) 284-8022 (203) 815-6729
  • 2. Why Buy in 2012? Steps to Purchasing a Home How Do I Get a Mortgage? Do I Need Insurance? Your Turn!
  • 3. Low prices on homes due to poor job market and economy Rents are more expensive than ever before Mortgage rates at all time lows! Mortgage interest is a tax write off Always a plus to see your money go towards you owning it, as opposed to throwing it away on rent
  • 4. 1. Mortgage pre approval Meet with your loan officer to decide what your options are. Make sure to have a monthly mortgage payment you are comfortable making. This helps you see how much you can afford! 2. Find an Agent to help you search for a home Are you looking for a starter home or something to raise a family in? Big house or big yard? Maybe both? These are some questions you may be asked, so start thinking about what would be right for you.
  • 5. 3. Make an Offer! Sit down with your agent and talk about comparable homes in the area to see where you should start the bidding. 4. Offer Accepted! 5. Home Inspection A home inspection is not required, but strongly recommended. It is worth a few hundred dollars to see what you are exactly purchasing.
  • 6. 6. Mortgage Documents Meet with your loan officer to start the mortgage process. Take your pre-qualification to a final approval! 7. Appraisal Mortgage companies require an appraisal to be performed to find a value of the home. 8. Get Home Insurance! Your Mortgage Officer will ask you for an insurance binder. Check to see if you are in a Flood or Hurricane Zone 9. Close and Move In!
  • 7. Meet with a loan officer and discuss your options. Your Income Ratio (Debt/Income) will help decide your highest available payment. You will Need the following documents when meeting with your loan officer: Last 2 Paystubs Last 2 years W2s Bank Statement Photo Id
  • 8. You dont drive your car without insurance, so why wouldnt you insure your home! There are a variety of different insurances from regular home policies, to flood, to covering your personal things in a condo or apartment
  • 9. What Questions or Concerns Do You Have For Us?
  • 10. We Look Forward To Helping You In The Future!