The Home Buying Process
MY PROMISE TO PARKLAND & CORAL SPRINGS AREA HOME BUYERS.
I live with my lovely wife and three amazing kids in a newly constructed home in beautiful Parkland. I have lived in the area my whole life, my kids are in local schools, and I’ve helped hundreds of people find their perfect brand new home in sunny South Florida.
Over the last few years, I have focused my efforts on the myriad of exciting new construction, new developments, and new homes in Parkland, Coral Springs, and the surrounding area.
I pride myself on my ability to match my clients’ lifestyle goals to their perfect new home. I know that happiness comes from finding the ideal home in the perfect community.
Three reasons Craig Levine is the top real estate agent for New Construction & New Developments in Parkland, Coral Springs, and the surrounding area.
Craig has a vast amount of local knowledge; he knows every new development and new construction in the Parkland and Coral Springs Area intimately. Whatever your budget or lifestyle needs are Craig has you covered. If easy access to a community golf course is important to you, Craig’s got you covered. If you have a growing family and access to the best schooling is be paramount, Craig’s got you covered. Whatever your need, Craig will find the best match.
Craig knows and has relationships with all the leading builders of new construction and new developments in the Parkland and Coral Springs area. Because of this; he is better placed to negotiate on your behalf when looking at new construction in the Parkland and Coral Springs Area.
Craig is not only the top agent for new construction and developments in Parkland and the surrounding area but he is also a member of the Keller Williams family. This means he has access to their world-class tools and support. All of which means that when you work with Craig, you get a highly personalized service that is supported by a world-class company. So, if you are looking to buy new construction in the Parkland or Coral Springs area, there is no better choice than Craig Levine the new construction and new development expert for Parkland and Coral Springs.
Steps to Buying a Home
Step 1: Know Your Credit Score Before Applying For Anything!
If you are seriously looking at buying a Parkland area home, you will need to understand your current credit score. Checking your credit has never been easier with many credit card companies offering credit monitoring as an added value service. In addition, companies like www.creditkarma.com provide a free and comprehensive credit monitoring service. If you are thinking about buying a home in the future, its an excellent idea to sign up for one of these services and do everything you can to drive your score as high as possible before applying for a mortgage or seeking pre-approval. Not many people know that legally everyone is entitled to an annual free credit report- you can get your here: www.annualcreditreport.Com. If you find that there are inaccuracies on your credit report, address them immediately.
Step 2: Figure out How Much Debt you can carry comfortably
Calculating the monthly fees and payments for a mortgage has become much easier in the last ten years. There are numerous free mortgage calculators online, and these are often an excellent starting point when budgeting for a new home. Most buyers will need to have amassed enough savings to cover a downpayment, and the greater the size of this downpayment, the greater the number of mortgages that will be open t you. You can calculate how much you can afford by starting online. It’s also imperative to budget for your closing costs, and you should have the home professionally inspected and appraised.
Step 3: Pick a qualified and experienced Parkland Realtor Like Craig Levine, and he can help you find a finance partner.
As with any significant financial decision, you must understand what the mortgage market has to offer before signing anything. The bottom line; to find the right mortgage- it’s best to shop around. Because Craig Levine has been working exclusively as a realtor in the Parkland and Coral Springs area for over two decades, he can help you assess and select the best mortgage and mortgage provider for your needs. It’s also a good idea to get recommendations from your friends and family and check with the Better Business Bureau. Craig will likely advise you to talk to at least four lenders and seek qualified financial advice if any points concern you.
The next step is to persuade the lender to pre-approve you for a mortgage. This will give you greater leverage and ensure your offers is taken seriously by the seller. The lender will pull a hard credit check before pre-qualifying you, so make sure your credit is in as good a shape as possible at the beginning of the process.
Step 4: THE Search For PErfection Begins!
Finding the home takes work, but the good news is that if you take the time to adequately describe your needs, an experienced realtor like Craig Levine can make this an enjoyable a mercifully quick process.
Many lesser agents subscribe to the “shotgun approach, dragging prospective homeowners all over the area, showing them every home on their books. Craig Levine is different; he will help you truly understand what you must have in your home and community. And because he has lived in the Parkland and Coral Springs area for his entire life, he can match you to the perfect home in the ideal community.
Step 5: Make an Offer on the Home
Once you have discovered your perfect home, you will need to determine what that offer should be; this process takes time and experience; fortunatly, Craig has both in spades! As a good rule of thumb, most sellers tack-on about 5% more than they expect to get. So, in many cases offering 5% below asking is a good starting place.
The truth is that many factors should go into crafting the perfect offer, as many factors influence a property’s value. At a minimum, you should discuss the general market conditions and the sale prices of comparable properties with your realtor before making your opening offer.
Very few offers are accepted immediately, so anticipate a back and forth process; having an experienced dealmaker like Craig on your side during this process will make this process a little less stressful.
Once you have an accepted offer, you will be expected to put funds into an escrow account.
Step 6: Get the Right Mortgage for Your Situation
There are many different types of mortgage programs out there, but as a first-time home buyer, you should be aware of the three basics: adjustable rate, fixed rate and interest-only.
Adjustable rate mortgages (ARMs) are short-term mortgages that offer an interest rate that is fixed for a short period of time, usually between one to seven years. After that, the interest rate can adjust every year up or down, depending on the market. These are good for people who don’t plan on living in their home very long and/or are looking for a lower interest rate and payment.
Fixed-rate mortgages are more traditional and offer a fixed interest rate (and thus a fixed monthly payment) for a longer period of time, usually 15 or 30 years, though they’re available in 20 or 25 year terms. These are good for people who like a predictable payment and plan on living in their home for a long time.
Both fixed and adjustable rate mortgages can have an interest-only payment. What this means is that for a certain amount of time during the loan term, you’re allowed to pay only enough to cover the interest portion of your payment. You can still pay principal when you wish, but don’t have to if your budget is tight. There is a myth that with interest-only mortgages, you don’t build equity. This is not necessarily true, since you can build equity through home appreciation. The benefit to interest-only mortgages is that you increase your cash flow by not paying principal.
Remember to ask your mortgage lender or mortgage banker lots of questions about which mortgage is right for you and your situation.
Step 7: Close on Your Home
Make sure you get a home inspection before you close. It will be well-worth the money spent since it ensures the property’s structural soundness and good condition.
Setting the closing date that is convenient to both parties may be tricky, but can certainly be done. Remember that you may have to wait until your rental agreement runs out and the seller may have to wait until they close on their new house.
Be sure you talk to your mortgage banker to understand all the costs that will be involved with the closing so there are no surprises. Closing costs will likely include (but are not limited to) your down payment, title fees, appraisal fees, attorney fees, inspection fees, and points you may have bought to buy down your interest rate.
Step 8: Move In!
You’ve got your mortgage, closed the deal and now it’s time to move in! Whether you use a mover or not is up to you, depending on your financial situation and how much stuff you have to move; perhaps also, whether you have a lot of friends willing to help you move. Either way, you’re done with the home buying process! Just start unpacking and start enjoying your first home! Buying a home for the first time doesn’t have to be a hassle if you’re prepared and you know what to do and when to do it. Choose an experienced home loan lender and a friendly, knowledgeable real estate agent-they are the key to helping you have a smooth home buying experience!
I promise to take the time to understand your needs and aspirations, so I can pair you with the best newly constructed home in the ideal new development and community.
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