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  • Writer's pictureJeff Schultheis

Essential Questions for First-Time Homebuyers

Whether you’re purchasing a home for the first time, or it has been many years since your last home purchase, there are several essential questions to ask while going through the home-buying process.


Find a mortgage company:


Finding the right mortgage company may seem overwhelming so shop around for at least two or three mortgage company quotes before deciding. You should get answers to the following questions.


· How much can I qualify for? How does my credit score affect my quoted mortgage interest rate does the lender offer first time homebuyer loan programs?

· What is needed for preapproval to submit an offer to purchase how much are the lending fees?

· What are the estimated mortgage payments and closing costs after the initial deposit, taxes escrow and title and mortgage insurance?

· What are the current mortgage rates? When can I lock in my rate?

· How long does it take to get a final mortgage commitment.


Once you have acquired the pertinent information, you should be able to choose the best lender for your financial needs.


Gather essential facts before making an offer:


Although popular real estate sites can provide you with basic information about what’s for sale. Nothing beats working with a real estate agent. They can help you with the search and purchase process, making the homebuying experience, more enjoyable and easier to navigate. So be sure to ask your agent these questions.


· How long has the property been on the market? Are offers currently being considered? Has it resulted in a bidding war?

· What I have comparable homes recently sold for in the neighborhood and how have they retained their value?

· Is there a homeowner’s association? If so, what are the fees and what did they cover?

· Are there any current or anticipated special assessments?

· How much are the real estate taxes and have they increased substantially over the past few years?

· Does the seller have the property disclosure detailing the condition and then integrity of the home, has the seller done any renovations? If so, were permits appropriately applied for and closed when the work was completed are there any easements that will affect the buyer’s ability to fully enjoy the property this may include someone’s right to use the property or land for a specific person purpose?

· Is the home, and a desirable location where there is easy access to shopping, dining entertainment, major highways, and airports?

· What are the neighborhoods walk ability, scores school, ranking and crime rank?


Asking these questions as you move through the homebuying process can help you be more informed buyer always carefully read the homeowner listing information to see what is and is not included in the sale check with your real estate agent to be sure that all the right questions have been asked specifically for your home purchase.

Don’t worry, the JS Realtor Team is so committed to serving our clients through-out the process. We are here to make the home buying experience one that preserves the excitement but sheds the anxiety. We provide clear guidance and advice to help you find the right home, at the right price, in the right neighborhood. Download our FREE Buyers Guide and connect with us today! Text/Call Jeff at 614.721.0450 or email Jeff@JSRealtorTeam.com. Offices in Columbus & Mansfield to serve Mid-Ohio.



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