Have you been worried about buying in today’s market? With interest rates rising, does that mean you should rush to purchase? For peace of mind, give me a call today, and I can help you look at different scenarios to decide if now is the right time to begin your home search.

Buying a home is one of the largest financial decisions of a lifetime. With Realtor Roberson you get:

• Peace of mind: Realtors have access to their local MLS, saving you countless hours of searching online. We can quickly spot new or upcoming listings to help secure a home that meets your needs.
• Expert Eye: Realtors can spot red flags during walk-throughs and point out any potential issues for an inspector to review.
• Negotiator: Your realtor can help you write a strong offer and support you during negotiations.
• Valuable Resources: Realtors have many strong relationships with mortgage lenders, law firms, and inspection companies. It doesn’t end there though—once you’ve settled into your new home, you may find that your agent also has a list of local painters, cleaning companies, lawn care providers, and more!
• Contractual Knowledge: Your realtor is experienced at writing real estate contracts. They will ensure all contingencies and deadlines are set. The buyer’s agent will also work to keep the transaction on schedule.

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Fine print has met its match. Realtor Roberson will help you see and define every word before signing on the dotted line

House hunting can be a tiring process at the best of times. One of Realtor Roberson’s key jobs is to help you clarify what you want most and find options that meet your specifications as much as possible. She will act as an advocate for clients and value the trust they place in her to help them with what is arguably an immeasurable financial decision. 

The best real estate agents are going to counsel you on location, neighborhood, schools, and other factors.

Large or small, condo or mansion, Realtor Roberson can find it and get it for you at the right price. Fixer-uppers? Luxury? She can help with all of it, regardless of where or what you’re buying, and ensure that everything goes smoothly. She always has a current list of available homes for sale for you to check out. As an elite agent in her area, with a high level of diligence and care, she is ready to cater to all your real estate needs. 

Buying a home can be an overwhelming process. From financing to negotiating to closing, there are a lot of moving pieces that can leave homebuyers bewildered. A real estate agent can help guide you through each step of the buying process, offering sound advice along the way. 

By working with a professional agent who knows the real estate industry, you’ll not only end up with a great home, but you’ll also walk away with a great experience.

Realtor Roberson has developed a 10-step guide to help buyers understand the journey of becoming a homeowner!

Step 1: Get pre-approved by a lender

By providing your real estate agent with some basic information about your income, savings, and debt, he or she can assist you in getting pre-approved by a reputable lender. The lender will then go over your financing options, what monthly payment amount you can afford, and what you can expect for down payment requirements and closing costs. Once approved you will receive a pre-approval letter.

Step 2: Choose a home

For most buyers, choosing a home is an emotional process. An agent can assist you in this process by offering objective information about each property you look at. From local community information like schools and zoning to home-specific details like condition and amenities, an agent can help you find exactly what you’re looking for.

Step 3: Make an offer

Once you’ve found the home of your dreams, your agent will research recent comparable sales of similar homes in the area to help determine a fair selling price. Your agent will help structure a competitive offer based on the price and terms you choose after being advised. 

Step 4: Negotiation and Contract

It may take a few tries in this market to get it just right, but hang in there. In most cases, the contract provides you with a timeline to obtain financing as well as time to inspect the physical condition of the home. Your real estate professional will inform you of all your rights and responsibilities related to the contract.

Step 5: Under Contract or In Escrow

You and the seller have agreed on the price and terms. The home is effectively held for you until closing. Earnest money is also held in escrow. Earnest money is your good-faith payment towards the purchase of your property. It ranges from 1% to 2% of the purchase price. This is an upfront cost paid prior to closing and is non-refundable after the due diligence period. 

Step 6: Order Appraisal

The average cost of a home appraisal ranges from $300 to $750. Factors like date of completion, property size, loan type, and appraisal checklist complexity influence the cost. This is an upfront cost paid prior to closing in the home-buying process.

Step 7: Perform due diligence, conduct an inspection, and review terms with the lender.

Inspection 

On the surface, a home looks beautiful. With a closer look, it's not so pretty. Your realtor has the experience to help you see the issues that may be hiding in plain sight. The cost of a home inspection ranges between $350 and $500. A qualified and licensed home inspector can reveal information about the condition of a home and its systems that is not easily depicted on the surface. Inspections are necessary for home buyers and disclose costs, repairs, and maintenance the home may require immediately and over time. Many lenders will not finance a home without a home inspection. This is an upfront cost paid prior to closing in the home-buying process.

Due Diligence Period

It gives the buyer time to get an appraisal, do a title search, perform property inspections, and more, so you can make an informed decision on negotiations about whether to proceed with the purchase or terminate the contract on the property. Once Due Diligence has passed, earnest money becomes non-refundable if the buyer decides to terminate the contract. 

Step 8: Review Financing and Prepare for Closing

During this phase you will receive clear to close from lender and wire closing funds to the closing attorney.

Step 9: Closing

Closing, or settlement, can be a complicated process. In some areas, the escrow or title company handles the closing process, while in other areas an attorney handles it. This is where the transfer of funds and ownership occurs.

Step 10: Get the keys!

Congratulations on becoming a Homeowner!

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Annual Income: This is the combined annual income for you and your co-borrower. Include all income before taxes, including base salary, commissions, bonuses, overtime, tips, rental income, investment income, alimony, child support, etc.

Down Payment: Your down payment reduces the total amount of your mortgage loan, so the more money you put down, the lower your payments will be. 20 percent down or more eliminates the principle of mortgage insurance. 

Other Monthly Debts: Include all monthly debt payments for you and your co-borrower, including: minimum monthly required credit card payments; car payments; student loan payments; alimony or child support payments; any house payments (rent or mortgage) other than the new mortgage you are seeking; rental property maintenance; and other personal loans with periodic payments.

Do NOT include: credit card balances you pay off in full each month; existing house payments (rent or mortgage) that will become obsolete as a result of the new mortgage you're seeking;

Loan Term: Your loan affects your interest rate and monthly payments. Popular terms are 30-year fixed and 15-year fixed; however, there are other loan term options. 

Loan Type: There are several types of mortgage loans, but the most commonly used are fixed-rate and adjustable-rate loans. All mortgage loans have one of the following features:

• Fixed payment and fixed interest rate - fixed rate mortgages
• Fixed rate but variable payment - graduated payment mortgages
• Variable rate and variable payment - adjustable rate mortgages (ARMs)

Interest Rate: Your interest rate will vary based on factors like credit score, down payment, and lender selection.

Property Tax: The mortgage payment calculator includes estimated property taxes based on the home's value. 

Home insurance: This is typically required by lenders, depending on the loan program. You have the option to hold your payment in an escrow account, which is included in your monthly mortgage payment and disbursed by your lender when your premium becomes due. 

HOA Fees: A homeowners' association fee (HOA) is an amount of money that must be paid by owners of certain types of residential properties. Payments can be due monthly, quarterly, annually, or as otherwise stated by the community's HOA. HOAs collect these fees to assist with maintaining and improving properties in the association.

Debt-to-Income (DTI): Your DTI is expressed as a percentage and is your total "minimum" monthly debt divided by your gross monthly income. The conventional limit for DTI is 36% of your monthly income, but this could be as high as 41% for FHA loans. A DTI of 20% or below is considered excellent.

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