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San Diego Real Estate News

San Diego real estate market news and information

By Janet McCarthy | Agent in 92129

San Marcos Home Buyers Guide

Home Buyer's Guide
Buying a home is a big project but you can easily avoid many of the biggest hurdles simply by using some of the tips in this Home Buyers Guide.  

Home Buyers Guide Know what you can afford
  • Calculate monthly mortgage amount, expenses, upkeep, taxes and all other possible costs
  • Down Payment: the larger the amount placed down the more likely you will get approved
  • Interest Rates: understand the impact of interest rates on the cost of the home (for instance, a $200,000 home at 5% interest is cheaper than a $150,000 home at 7%).
Finding a Lender
  • Deal with reputable lenders and seek professional help from agencies such as the Better Business Bureau to identify members of good standing. 
  • Shop three or more lenders (a REALTOR® may be able to assist you in choosing a lender).
  • Know your rights when exploring different loan options (consulting a lawyer may be necessary).
  • Visit banks and lending institutions in person - because of the subprime mortgage crisis new rules often demand you visit the banks.
Home buyers GuideHomebuying Programs
  • Educate yourself in recent government programs that can assist you.
  • Keep an eye on interest rates - the 30 year fixed rate mortgage has been as low as 4.72% in 2010.
  • Consult your local REALTOR® for additional information.
  • Review websites such as http://www.mymoney.gov/ or http://www.fdic.gov/.
This Home Buyers Guide is very basic and you will need answers to many more questions.  Get connected with a Realtor today and avoid missing out on the really good deals because you weren't prepared.  Contacted me today so that we can set-up a home Buyers plan that will help you find the right home.
Janet McCarthy 
Connect Realty 
jmccarthyhomes@gmail.com
858-243-5719

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By Sharon Paxson,  Mon Sep 3 2012, 09:05
Good post about getting educated on home buying before beginning the home search process.

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