Calculate how much you invest in a home The amount of money you can afford to invest depends on your income, credit rating, current monthly expenses, downpayment and the interest rate. The calculators below can help, but it is best to visit a lender to find out for sure. Shop for a loan Save money by doing your homework, check options with banks, real estate etc. a Compare costs and interest rates, negotiate to get a better deal. Consider getting pre-approval for a loan. If you do not plan to pay the total purchase price in cash, need to find a “mortgage” or a loan.
The mortgage you can receive will be based on annual income, credit history and other factors. The mortgage financing is the key of the real estate business using money from banks, financial institutions or private lenders to achieve the goal. Financing options are varied and very competitive. For example you can choose mortgages from 15 to 30 years with interest rate fixed or variable. Some buyers prefer to wait to lower interest rates.
Where possible locate your mortgage rate has a “fixed” pre-established throughout the period of your credit you do not want surprises with a devaluation or something. Get a home inspection Make your offer contingent on a home inspection. An inspection will tell you the condition you are in the house and can help you avoid buying a home that needs major repairs, do not hesitate to do it, do not watch it considers as an expense as one of the best investments you can make. Then inspect for potential problems hidden in the roof, plumbing or general construction. Verify that the property is properly equipped if you are in an earthquake zone, erosion, landslides and / or flooding. This inspection need to make before the closing of the purchase to avoid losing your deposit. Search for homeowners insurance Housing Lenders require that you have homeowners insurance. Be sure to shop around, take the time to consult with several options, firstly if the credit is watching to see what options a bank offers, also refer to insurance and bonding companies, compare rates and short-medium long term. When you buy a house, you need a secure and would be better to get for yourself, because it is less expensive than that offered by the company of lawyers who will make the closure. Make a list of properties. Once you have chosen a list of properties, you can see who likes making an appointment with the agent, the builder responsible or the owner, is important to make sure you know all the things that are included in the price as fresh paint, objects , etc. before making its offer and be prepared to negotiate. Make an offer Discuss the process with your real estate agent. If the seller counters your offer, you will need to negotiate until you both agree to the terms of the sale, if find the right house to make an offer and if accepted, the agent or owner will contact you to sign the contract. Luck in buying Mr. Gonzalo Estrada O. of M Director of Marketing Calculate how much you invest in a home The amount of money you can afford to invest depends on your income, credit rating, current monthly expenses, downpayment and the interest rate. The calculators below can help, but it is best to visit a lender to find out for sure.