Once you have met with your loan officer and have a clear indication what you can afford on a monthly basis, you are now ready to contact a Realtor in your area. Make sure when looking for the Realtor they show the system and tools they will use to find you the best property for both of your needs. I wish you the best of luck.
Get your finances in order - this is your absolutely number one priority. Other than saving for a down payment you need to make sure you have a good credit because that will affect what kind of mortgage you will qualify for. It is good idea to run credit reports for you and your fiance to make sure there are no mistakes there. In addition to the downpayment on a house (as little as 3.5% with FHA loans) you will need enough cash to cover the closing costs. You might want to talk to a mortgage professional who will explain to you different types of mortgage products, run your credit history and be able to advise on any financial-related matters for buying a house.
From that point on (or while you are doing all of the above) - think about your "wants and needs". What are you looking for in a house? From basic information such as bedrooms, baths, sq footage to styles and conditions of houses. Visit some public open houses - see you like. Find a buyers agent who will be working with you and guide you through the actual process. And HAVE FUN - it is an exciting time to be a first time buyer!
My office is in Somers, but I live in Mahopac myself. Feel free to email or call me if you have any more questions or if I can be of any help with your search!
1. Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.
2. Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.
3. Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.
4. Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.
Put together your Team of real estate professionals and shop 'til you drop!
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker â€“ NYS Dept. of Financial Services
If you thought my answer was helpful, please give me a "Thumbs Up." Thanks!
Many great answers to your questions. I would encourage you to first contact a mortgage broker to find the price at which you may obtain a loan for the home of your dreams. Once you know that figure, there are many web sites available to look at homes in Mahopac. I would recommend the web site, Houlihanlawrence.com to find homes. Once you find several to your liking in your price range, I would be happy to help you visit them. We can make appointments and go from there. Please contact me with any questions you may have.
The first thing to do is to sit down with a lender to see what you are approved to buy. Once you have done that and have a pre-approval and a budget then you can work with an agent in finding your dream home. Single family homes in Mahopac start at $105,900. Condos start at $215,00 and co-ops start at $79,000. I can recommend a lender to you who works in the Westchester - Putnam County area. His name is Christian Babcock and here is his link:
Keller Williams Realty Group
I'd be happy to sit down with you and discuss all your options ad have one of my agents assist you with finding your first home.
Till then, be sure to check out: http://stlawrenceproperties.listingbook.com