Buying a home can be a daunting task. How much can I afford? What neighborhood do I want to live in? Will the house I choose appreciate? All these questions and more are important to us at Get Results Realty® because we want to make the process easy with as little stress as possible. We want you to be happy with your decision so you will call us to sell your home when you are ready to move again. Our duty to you required by the North Carolina Real Estate Commission:
1. We must promote your best interest
2. Be loyal to you
3. Follow your lawful instructions
4. Provide you with material facts that could influence your decisions
5. Use reasonable skill, care and diligence, and
6. Account for all monies we handle for you
Once you agree to use an agent as a buyer's agent, the agent may not give any confidential information about you to the sellers or their agents without your permission so long as the agent represents you.
Do You Qualify?
Buying a home is involved. Choosing the style of home you want, choosing a location, making an offer, and perhaps a counter offer are all aspects of the process of home buying. A key element to buying a home is having the financial backing to actually purchase the house. A REALTOR® can help you determine what kind of loan and how much of a loan you may be qualified for before you visit a mortgage company or bank. Your real estate professional will look at the sources of your income. What is your salary? Do you have any other forms of income? What does your job stability look like? If you have not had your position long, why not? Do you already have outstanding loans and other debts?
Also, a REALTOR® can educate you on the types of loans available. There are loans insured or guaranteed by a government agency, such as FHA loans and VA loans. FHA loans are insured by the Federal Housing Administration for the full amount of the loan. Interest rates with an FHA loan may be fixed or adjustable. An FHA loan does not require large down payments, which is attractive to buyers who do not have sufficient cash for the down payment and closing costs.
A VA loan is guaranteed to a certain limit determined by the Department of Veteran Affairs. A VA mortgage's interest rates can also be fixed or adjustable. Most military personnel and veterans are eligible for this type of mortgage.
A conventional loan is not insured or guaranteed by a government agency. They can also have fixed or adjustable interest rates. Most loans of this type require a minimum 5% down payment. Conventional loans are available at most lenders and are usually for a larger amount of money than FHA or VA loans.
By reviewing your income, liabilities, and the type of home you wish to purchase, a REALTOR® can help you figure out what type and how much of a loan you may qualify for. This is only one way a REALTOR® can make your home buying experience easier.
Search all the beautiful homes available through out the Triangle and Wake County area. Fill out your information and we will help you through the entire process.