Home Buying in Bronx>Question Details

yelitza37, Home Buyer in Bronx, NY

how do u go about buying a home whats the first step?

Asked by yelitza37, Bronx, NY Sat Feb 23, 2013

Help the community by answering this question:


Your first step is to meet face-to-face with a Loan Officer. Allowing him/her to review your credit along with all necessary documentation is the only way you'll know what your budget is. You don't want to search for homes without knowing what you can afford.

Once you've been pre-approved, you can begin searching for properties. Meet with a Loan Officer, get pre-approve and also get answers to all your questions. If you're in need of a Loan Officer, I'm always available to meet in the Bronx. Good luck!

Javier Meneses
Senior Loan Officer
NMLS #23130
310 Crossways Park Drive
Woodbury, NY 11797
(516) 740-4478
4 votes Thank Flag Link Sat Feb 23, 2013
Hello Yelitza,

Step one: Check your credit report and make sure that all information is accurate or if you need to have any inaccurate information removed. This is important because when you meet your Loan Specialist, your credit score will come into play in determining what your buying power is. Personally I like to know in advance before being surprised.

Step two: Meet your loan specialist and get pre-approved, also ask about the different types of loans offered.

Step Three: Contact a local Realtor. Having a buyers agent can help you navigate the market and make sense of whats available. http://www.bronxpad.com/buyersAgent.html

Step four: Set aside a weekend to view homes that catch your eye.

Step Five: Make an offer.

There are more steps to take but these are the initial 5.

I hope this helps.

Joel Rivera
Keller Williams Realty
0 votes Thank Flag Link Thu Feb 28, 2013
Hi Yelitza,

As mentioned by many below, you wanna have a consultation with a loan officer to determine your eligibility and how much you qualify for a home. You must feel comfortable with your monthly payment before shopping. I recommend you then meet with a buyers agent who will then create a strategy to find you the best possible home at the lowest price. I recommend working with a Certified Buyer Representative who is basically someone that will look out for your best interest from beginning to end. I am a few of hundreds of Realtors in the Bronx Certified by the National Association of Realtors and I provided a roster list on the web reference link below so you can verify. If you have any questions whatsoever, please don't hesitate to contact me. Best of luck to you!

John Lajara
REALTOR®/Notary Public
Certified Buyer Representative (CBR)
Cell: 917-848-4655
Fax: 917-522-9638
Website: http://www.JohnsRealtySuccess.com
E-mail Address: john25lajara@gmail.com
EXIT REALTY SEARCH | 3928 E. Tremont Ave | Bronx | NY | 10465

Visit me on Trulia & Zillow!

0 votes Thank Flag Link Tue Feb 26, 2013
good day, the process is not as complicated as you might think, please call me @ 646-851-6799 to discuss
0 votes Thank Flag Link Tue Feb 26, 2013
The first step is to sit down with a banker and get pre-approved so you know how much you are eligible for, how much you are comfortable affording and how the process works. Once you are pre-approved you can start looking at homes with a realtor and place an offer!
0 votes Thank Flag Link Mon Feb 25, 2013
Good evening,
The first step is to get pre approved from a mortgage broker or banker.

The second step would be to look at some properties online to match your price range.

Contact some local Realtors to schedule a face to face meeting to discuss your options.

Make sure you feel 100% confidant that Agent can work for you and meet your needs.

We have several Agents and me to help assist you with any questions or concerns.

Thank you,
Joseph Cosentino
Morris Park Realty
Web Reference: http://www.jcosentino.com
0 votes Thank Flag Link Sun Feb 24, 2013
Hello Yelitza37 you have had great responses and I see that you have a few realtors and lenders from this post alone that you can interview and choose from. In regards to your question the first step is to know what you want to pay as mthly mtg and then speak to a lender that can give you a range of prices accordingly. Sometimes your range is low and sometimes it's just right, but in home purchasing you need to know the real nbrs. The lender will also let you know how much money you will need to have available to purchase your home (I can provide you with 3 direct contacts that are reputable). Sometimes it's less than you think! 2nd step would be to find different ways to look for your property. You can either look for properties yourself online, or put all the burden on a professional like myself to make your life a bit easier, and you only worrying about your current job and making the time to go and see properties that fit your criteria. This way you don't add to your probably very busy schedule other concerns like having to wait for callbacks, or stumbling into many properties that are either off the market or already sold. Also, keep in mind that you will need an attorney to represent you post an accepted offer, negotiating inspection concerns, and review contract to purchase prior to signing and putting down payment. If you wish to work with a realtor they can provide you with some nbrs, but if not working with a realtor then I highly recommend interviewing a few after your lender consultation to get the best price and a feel of who you feel will look out for your interests best (I can provide you with 3 that are reputable in the Bronx). The next step upon finding a home you will need a home inspector in which by this time you will have a realtor (maybe), lender, and an attorney that can recommend someone to you.
P.S. I know you asked for the first step, but I wanted to give you the first 3 that are essential. After these 3 steps you will have more than enough people on your team to guide you the rest of the way.

Best wishes & I hope this information is helpful to you to begin your home buying process today. If you're open to having a professional do the leg work for you feel free to contact me directly. My direct contact nbr is 347-593-4450 & my email is baezharold@gmail.com.
0 votes Thank Flag Link Sun Feb 24, 2013
Your first step is to meet with a Loan Officer so you can get Qualified. Allowing him/her to review your credit along with all necessary documentation is the only way you'll know what your budget is before you start shopping around. You don't want to search for homes without knowing what you can afford.

Second Step is to also meet with a local Realtor, one that specializes in Buyer Representation and that can assist you with your Home Search!

Please go to my web-site at: http://www.bronxwestchesterhomes.com

Click on : Buyer's Resources

If Your a FIRST TIME HOME BUYER, please come to our HOME BUYER WORKSHOP, coming on March 23rd from 11:00 a.m - 1:00 p.m. We will have some great speakers and you can get a one on one with one of the Top Realestate professionals in the Bronx.

Call now to Register! 800-504-5654

Hope to see you there, for further details you can also call me direct at 646-957-4648!

Best of Luck!

Millie Valentin
Certified Buyers Representative(CBR)
Exit Realty Search
3928 E. Tremont Avenue
Bronx, NY 10465
email: exitwithmillie@gmail.com
Web Reference: http://millievalentin.com
0 votes Thank Flag Link Sun Feb 24, 2013
good day, please call me @ 646-851-6799 to discuss in details, thank you
0 votes Thank Flag Link Sun Feb 24, 2013
From my perspective, the home buying process should begin with a complete appreciation for your personal finances. This is why I recommend a review of the buyer's personal budget, accounting for all monthly income and expenditures. Doing this prior to visiting a loan representative to find out about program options and rates will be very helpful.

Having a proof of funds letter or loan pre-approval letter will help greatly when presenting you purchase offer.

Your next step in the buying process is identifying a location and full time agent that can support your search. Having a "full time" agent is important both in terms of availability and knowledge and should be viewed as a priority.

Hope this information is helpful.

0 votes Thank Flag Link Sun Feb 24, 2013
Great question and great responses. I'd like to add that you should also interview more than one loan officer since mortgage products and qualifications can vary from lender to lender. In general, retail banks and credit unions (though great in other areas) can be the least flexible and most time bureaucratic when it comes to underwriting and approving residential mortgages. And even among mortgage banks, guidelines can vary for the same mortgage product. So getting a second opinion is a smart way to ensure that your family has a wide range of affordable financing options.

As a licensed loan officer, I have extensive eperience helping New Yorkers throughout the five boroughs (with many in the Bronx) to become successful homeowners and would welcome an opportunity to meet with you in the Bronx or in my office to discuss the best mortgage solution to help you achieve your goal of homeownership in 2013. For more info or for assistance, I can be reached directly at 917 699 0183, via email at michaeldenniston247@gmail.com. Follow me on Twitter @mdenniston247.

I value your feedback. Please give me the thumbs up, if my answer was helpful. Thank you.

Michael Denniston l Cell: (917) 699-0183
Residential Home Funding, Corp.
Licensed Mortgage Loan Originator l Sales Manager
6901 Jericho Turnpike Ste. 219 | Syosset, NY 11791
Main: (516) 605-1733 | Fax: (888) 881-2557
NMLS # 24076 | Company NMLS # 34973
0 votes Thank Flag Link Sun Feb 24, 2013
Yes! It is very important to get all of the necessary documents ready for the loan officer eg, W2s for past 2 years, most recent pay stubs for past month and bank statements. Once pre -approved by the lender, the next step is to determine what type of property you are looking to purchase eg, 1 family, 2 family etc. After you have determined what your needs are you can begin to look for your new home. Good luck with your search and all the best.

I am a local realtor in the Wakefield section of the Bronx. Feel free to contact me.

Krystle Duncan
(917) 612-1588
Besmatch Real Estate
0 votes Thank Flag Link Sat Feb 23, 2013
You have received some great advice so far. The only thing I would add is that once you are pre-approved and have found a lender you should interview at least 3 recommended Realtors and make sure to hire the one that suits your needs best.
0 votes Thank Flag Link Sat Feb 23, 2013
As was said below, chat with a mortgage broker. Ask him to determine what loan amount a bank will allow. But then ask him the purchase price and taxes of a home you can buy based what YOU are comfortably spending per month on housing. No one ever runs the numbers backwards. A smart person will not get in over his or her head. Best of luck!
0 votes Thank Flag Link Sat Feb 23, 2013
Hi Yelitza,

This is a great question! The very first thing you need to do is speak with a loan officer and get a pre-approval. This is so important because it will help you establish what kind of home to look for, establish a budget for you, and you need one in order to put in an offer once you do find a home you love. Once you have your credit run, you will have 30 days to shop around for a great rate and it will only count as one inquiry on your credit report.

Next, contact a local realtor. We do not charge buyers and you will have access to listings and comparables to help you make the best decision.

Once you find that place you love, you will need an attorney.

if you have any further questions, I would be happy to help. best of luck!!

David Rodriguez
0 votes Thank Flag Link Sat Feb 23, 2013
Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously, therefore begin by visiting with any licensed loan officer; also choose an agent to work with, he/she will be your best guide.
0 votes Thank Flag Link Sat Feb 23, 2013
Hi Yelitz

First talk to your bank or a lender to see what you qualify for.

Get all your Tax records for last 2 years together, along with bank statements,
and any retirement accounts together.

Come up with a list of Wants and Needs, such as
Number of Beds and Baths, Price, Square footage, location, school,
walk score, parks, public transportation etc.

Then get in touch with the many fine real estate agents responding to your question.

Best regards
Web Reference: http://www.ruthandperry.com
0 votes Thank Flag Link Sat Feb 23, 2013
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