10 STEPS TO PREPARE FOR HOME OWNERSHIP
Buying a new home? Lyn Sims at RE/MAX Suburban offers 10 Steps to Prepare for Home Ownership!
Find an experienced REALTOR®, like Lyn Sims at RE/MAX Suburban, who can help you through the process. She been around for 24 years and knows the details. Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income. Develop a wish list of what you would like your home to have. Then, prioritize the features on your list. Select three to four neighborhoods in which you would like to live. Consider items such as schools, recreational facilities, area expansion plans and safety. Determine if you have savings sufficient to cover your down payment and closing costs. Closing costs, including taxes, attorney's fees and transfer fees average between two and seven percent of the home price. Get your credit in order. Obtain a copy of your credit report. Lyn's article on how to "Improve your Credit". Determine how large a mortgage for which you qualify. Also, explore different loan options and decide what is best for you. Get pre-qualified and pre-approved BEFORE you start your home search. Organize all the documentation a lender will need to pre-approve you for a loan. This includes past income tax returns, recent pay stubs, etc. Lyn's article on lender paperwork. Do research to determine if you qualify for any special mortgage or down payment assistance programs. Lyn Sims still offers 100% financing available to those who qualify. Calculate the costs of homeownership, including property taxes, insurance, maintenance, and association fees, if applicable. Lyn provides a "Budget Worksheet" to get your finances in order BEFORE you start your home search! Contact me Lyn - I need help to find my new home.
Lyn Sims, a 20+ year real estate veteran works in the NW Chicagoland Suburbs of Bartlett, Hanover Park, Streamwood, Hoffman Estates, Schaumburg, Elk Grove Village, Palatine, Roselle, Medinah, Itasca, Elgin, South Elgin, Carol Stream & St. Charles areas of Illinois.
- Contact Lyn Sims at her office (847)230-7324 or (800)637-9345 Outside IL OR Email her at LynSims@remax.net
"Blog Dog"©2008 Lyn Sims
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Lyn, I have heard property taxes in Barlett, IL have just sky rocketed...have you heard about this?...how is this affecting the surrounding communities?
I have a friend whose property taxes in Barlett just went up $3,000 annually - could this be?
Would you suggest moving to Lake County versus Cook County in light of the seeming vulnerability in this area....
...Just at the beginning of trying to make some decisions...
Thank you,
Diane