Have you decided to buy a new home but are feeling nervous about the process? In this video, we’re going to break the home buying process down for you to answer all of your questions. We’ll also squash 3 common myths about buying a home to ease your mind and make sure you have all the information you need.
It’s Normal To Be Nervous
Getting a home is exciting, but it’s also a little nerve-wracking. After all, it’s not every day that you get to spend hundreds and thousands of dollars on one purchase. It’s 100% normal to feel a little bit nervous about the home buying experience, whether you’re buying your first or fifth house. There is a lot that goes into the process, which is why we’re going to break it down simply for you in our Client For Life experience.
There are so many questions you’re likely already thinking about. How much do I have to put down? What are my monthly payments? What rate should I be at? How much can I afford? Since turning to Google for all your answers can be an extremely frustrating experience, let me be your numbers guy and take care of this for you. We’ve put everything together at your fingertips now to make this process pretty easy for you.
3 Common Myths Of The Home Buying Process
After 20 years of helping home buyers just like you, there are three common myths that I hear come up over and over again. We’ll go through each one and debunk the rumors.
#1: You have to be ready to buy a home today. One thing that I see in common with a lot of wealthy people is that they’re pretty calculated in their decisions. They take time, they plan, and they make sure that they have the right investment for them. Buying a home is one of your biggest investments, and we need to make sure this is the right investment for you. What if your credit needs some improvement? Did you know that a 1% drop in your rate can save you hundreds of dollars a month in your payment? It can also reduce your mortgage insurance expense too.
Working with a mortgage advisor like us can put thousands of dollars a year back in your pocket. The good deals always go fast, so working with a great realtor who can help you jump as soon as the right home hits the market is something that will benefit you tenfold. When you work with us, you’ll find out more about our TBD approval process that puts your offer ahead of every other offer submitted on the homes you’re looking at.
#2: You have to put 20% down. This myth can cost you thousands of dollars a month in payments. This is because home prices are appreciating. If it takes you five, six, or seven years to save for a down payment, rates could go up. Home prices are more than likely going to be up a fair amount in that time. Therefore, you’ll be out of a lot of money and will spend excess time continuing to pay somebody else’s mortgage and not building your own equity.
My brother, aunts, and uncles all told me the same thing: that I needed to wait and I needed to save. But when you work with a mortgage advisor, we will be able to break down the costs you’re going to have each month as well as the cost of waiting to set you up for the most success possible.
#3: What you’re preapproved for is how much you can afford to spend. You can go to a website and easily get preapproved for $500,000. While that may well be what you can afford, working with our team of mortgage advisors will help you ensure that the price is right. Additionally, we’ll also make sure that you’re achieving the financial goals that you want in your future.
Your credit score and debt-to-income ratio will definitely have the biggest impact in determining how much you can afford. However, savings and other items on your credit report will also be a big factor. While it’s super convenient to fill out forms online—and you will with us, too—there’s more to the process than getting answers right away. Working with mortgage advisors like us will make sure that you’re approved for your house and that the inputs you’ve made into the system are correct. This allows you to be approved for what you want and will help eliminate most of the surprises that come up—especially the ones that technology misses.
The Client For Life Experience
While we need technology to help us, the TLC of the human touch is something that just can’t be missed inside of our business. Through our Client For Life experience, you’re going to learn exactly what it takes to be a first-time homeowner or upgrade to the new house that you want. You’ll also learn how to make the most informed decision for yourself, a vital asset as a house can be the biggest and largest financial transaction you make in your entire life.
We don’t send our kids off to school to learn math and science on their own. Rather, we send them to school so they have teachers to assist them. Similarly, we use our knowledge as mortgage advisors to assist you in making the best financial decision that you can. It’s never too early to start the process, and that is exactly why we created the Client For Life experience for you.
So, here’s how it works. You can click here to set up a time to speak to me or one of the advisors on my team so we can get things rolling for you. We’ll get an idea of where you are in your ideal moving timeframe, what kind of down payment you’re looking to make, and then we may make a few suggestions based upon your financial goals. Next, we will create a step by step process for you that’s 100% free. We will assist you in getting your credit score where it needs to be to get you the best rate possible. And most importantly, we’ll make it as simple as possible for you to understand. We know for a fact that an educated buyer makes the best decisions. We want to earn your business.
Our TBD Approval Process
We have exclusively developed a TBD approval process. What we provide is a $5,000 guarantee for the seller when you submit your offer. This puts your offer ahead of everyone else’s. Just imagine: they have a whole list of contracts that have just come in on their house. Yours is going to be the only one that guarantees them $5,000 if we don’t close. This is what we’ve done and set up to earn your business, and this is how we will get your offer accepted ahead of everyone else’s.
My parents taught me something when I was a young child: “You put your money where your mouth is.” That’s exactly what we’re doing for you. Many people will claim to be a mortgage advisor, but there are few like us who will actually do so for you.
So whether you’re ready to talk to us yet or not, do yourself one favor: continue to watch our videos and read our blogs so you can get yourself educated. Regardless of what you’re buying, knowing your numbers is the most important part of the process. If you have any questions, please feel free to reach out to us and we’d be happy to connect!