You'll sign an agreement with an agent before you tour a home, so choose first. Here's what a good agent does, the 13 questions to ask, and the red flags to watch for in Colorado and New York.
Read MoreSeller concessions let the seller cover part of your closing costs without touching the sale price, but how much you can negotiate depends on your loan type and down payment. Here's how the limits work, and the negotiating tactics that actually get sellers to say yes.
Read MoreStruggling to decide between renting or buying? Our comprehensive guide walks you through the financial, lifestyle, and market factors to help you make the right choice for your situation.
Read MoreComparing lenders puts you in control of your budget and long-term wealth. Today, there are tons of different loan products out there and since interest rates can go up or down, a 0.25% difference can mean $50–$100+ per month and tens of thousands over the life of the loan depending on the loan type. Here’s a simple plan to save more and feel confident.
Get at least 3 written Loan Estimates. When applying, make sure to be consistent with the information you submit so you are comparing “apples to apples”.
Compare “apples to apples”:
Loan type (ie: FHA, VA, Conventional, USDA, Jumbo, etc) will determine your true costs. As an example, FHA loans have a 3.5% down option while VA loans have no down payment requirement.
APR or annual percentage rate is the total annual cost to borrow.
Down Payment and closing costs will vary depending on loan type and borrower profile.
Additional points or fees for things like rate buydowns or rate locks, if applicable
Choose the best overall fit: monthly payment, cash to close, timeline, service and accessibility. Then lock.
Apply within a 2-4 week window so multiple credit checks count as one.
Include banks, credit unions, online lenders, and brokers for a wider view. Each of these have their pros and cons. Outside of financial considerations, take into account client-centric service and their availability/accessibility to you outside of normal business hours (offers are often written and submitted during this time)
If you have questions, we’re here to help and point you in the right direction—free and no obligation. Tell us what you think, or reach out anytime at consumershomeresource.com/contact .
Start your home search with confidence—by getting pre-approved first. Learn why pre-approval is a powerful first step for buyers in Colorado and New York, and how it can help you move faster and negotiate smarter in today’s market.
Read MorePowered by Squarespace.
