The decision to purchase a home is one of the biggest and best choices anyone could ever make. After all, a home is the largest investment most people will face in their lifetime. The key is crafting the right scenario and engaging the proper resources to expand your options.
However, In the age of Covid, that dynamic is changing, expanding and shifting both buyer and seller’s needs. New, unexpected opportunities and challenges have been created. The lowest mortgage interest rates in history, multiple bidding wars on properties and a necessity for an expanded lifestyle all require a different strategy than ever before. Our experienced Employee Home Benefit Advisors are your trusted experts in pricing negotiation, mortgage management and expanding your resources to ensure you gain a winning advantage.
SECURE FINANCING
The most important detail of buying a home is knowing what you can afford and securing a mortgage loan pre-approval. You need to be able to purchase confidently and within your budget. Employee Home Benefit loan pre-approvals are always complimentary, with no application fees, no upfront fees and junk fees
Here’s what our Employee Home Benefit™ Advisor Team will do for you:
- Review your current financials and resources to qualify.
- Discuss the options available to you.
- Guide you to an affordable and appropriate price point.
- Apply aggressive program concessions to lower your interest rates/fees
- Provide you complimentary evaluation and preapproval.
- Keep you informed and updated throughout your transaction.
MEET WITH YOUR AGENT
When you’re looking for a real estate professional to help you, know that above all else, great agents put their clients first. With our Certified Partner Network, we only partner with the most experienced local professionals that have a proven success history in customer service and results. A Certified Partner Network Real Estate Agent will:
- Educate you about the market.
- Analyze what you want and need, also what you don’t.
- Partner with the lender and coordinate other professionals throughout the process.
- Guide you to homes that fit your criteria and budget.
- Negotiate on your behalf to get you the best deal possible.
- Provide an aggressive commission rebate concession to your financing package.
- Check and double-check paperwork and deadlines.
- Inform, discuss and suggest solutions to any problems that may arise.
FIND YOUR HOME
Once you’re pre-approved, you’re ready to begin your home search. Your Certified Partner Network Real Estate Agent will help you more accurately pinpoint homes that fit your criteria.
Some considerations and questions to ask yourself as you begin:
- What amenities are crucial to me?
- How much space do I really need?
- Which is more important to me: location or size?
- Could I be interested in a fixer-upper?
- How important is value appreciation?
- Is neighborhood stability a priority?
- Is accessibility to main routes a priority?
- What features are not negotiable in your new home?
- How can I be the winning bidder without overpaying?
MAKE AN OFFER
Once you’ve found a home you love, the next step is deciding on a price. It’s important to remember that a home is also an investment. Your agent can give you information on other properties in the neighborhood to help you ensure you make an informed decision when it comes to price. Look to your Certified Partner Network Real Estate Agent to explain and guide you through the offer process. But don’t delay. In today’s market, if you find it, like it, buy it – or someone else will!
CLOSE & OWN!
Once your offer is accepted, your Certified Partner Network Real Estate Agent will guide you through the home inspection, appraisal process, final underwriting loan approval and then off to escrow to close. And just like that, your new keys are in hand and your next life chapter begins!
THINGS TO AVOID
Many home-owners and new home-buyers make the mistake of applying for new credit, depleting their cash reserves or rushing out to buy things to furnish their new home as soon as the seller accepts their purchase offer or the lender pre-approves their loan. But, there are still a few major hurdles to overcome before the keys are handed out.
Below are some things to avoid during the loan process to assure your transaction goes as smoothly as possible:
Don't Apply For New Credit
Don’t apply for new credit! Don’t have anyone check your credit except your Certified Partner Network Lender! Don’t make any expensive purchases! It may be tempting to order that new sofa for your soon-to-be living room and try to avoid making major purchases like furniture, cars, appliances, electronic equipment, or vacations until after closing. Purchasing with a store credit card or even one of your own credit cards could jeopardize your credit worthiness during the time it means the most. All of these points can affect your credit scores which in turn, can affect your rates and costs.
Income Change or Business Expansion
Call us before you make an income change or busines expansion so we can review how it may or may not affect your transaction. A new opportunity can be a great thing, especially if you are going to be making more money. But for some people, changes in employment or income during the purchase process could raise some concern and affect their application.
Don't Switch Banks Or Move Money
Don’t switch banks or move money around! As your Certified Partner Network Lender reviews your loan package, you will likely be asked to provide bank statements for the last three months on personal and business checking accounts, savings accounts, retirement accounts and other liquid assets. To eliminate potential fraud, most loans require a thorough paper trail to document the source of all funds being used for the transaction. Changing banks or transferring money to another account, even if its just to consolidate funds, could make it difficult or bothersome for you and the lender to document your funds.
MORTGAGE CALCULATOR
