I want to buy a house this year, but don’t where to start?

Real Estate Broker/Owner with A-Z Atlanta Realty GARE#284610

If you want to buy a house this year and you don’t know where to start I would say start with looking at your credit score and report then call a Realtor®.    A Realtor® can guide you through the process by having a buyer consultation with you.  During your buyer consultation your Realtor® will discuss the home buying process and advise you about what you can expect.


·        When you first apply for a mortgage, banks and mortgage companies will be looking at your credit history to see how you’ve handled credit in the past and currently.  If you take a look at your credit report you will get a good idea of whether you have incorrect information and you will know your credit score. 

·        I would also say take a look at a mortgage calculator so you can estimate the amount that you want your mortgage payments to be.  This will give you a good idea of the amount of the mortgage you can afford.  Once you’ve done that you are ready to speak with a mortgage lender.    Your Realtor can refer you to a mortgage lender. 

·        Hopefully you’ve saved some money which you will use towards your home purchase.  How much money?  You need a minimum of 3.5% of the purchase price for your down payment with FHA.  You will need about $450 for the appraisal of your new home, you will need about $350 for your home inspection and you will also need another 1-2% for closing cost.  I will negotiate with the seller to pay closing cost, but you want to be prepared if there are fees the lender requires you to pay. 

·        I normally tell my clients to save 6-10% of the amount they want the purchase price to be.   You may not need that much, but it’s best to be prepared, after you’ve found your dream home you don’t want anything preventing you from purchasing it.  Some of the costs associated with homeownership are property taxes, homeowners insurance, HOA fees, and utilities.            

I know all of that sounds like a lot, but you don’t want to miss out on the great deals to be had.  If you don’t buy now you may never buy, interest rates are low and so are the prices of homes.  These conditions will not last forever, why wait?

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Dedicated to providing you superior service!  Contact me if you are interested in buying or selling and  I can help you with your short sales too! I won't tell you I have lots of real estate awards but I will provide the best service available to you as my client whether you are buying or selling.  I am never too busy to answer your calls or your questions!  Call me to help with your real estate needs in Gwinnett, Dekalb, Henry, Clayton, Rockdale, Newton or anywhere in the Atlanta Area!


Ava Anderson
A-Z Atlanta Realty
Direct number 770 369-5121
Follow me on Twitter: @avasellsatlanta
Like me at http://www.facebook.com/AtlantaRealEstateAgentAva




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Ted J. Macy
Top Agents Atlanta Metro - Milton, GA

Good blog, well written, good information

Jan 11, 2012 03:59 PM #1
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Thank you for the truth about realtors and what we do.

Jan 11, 2012 04:03 PM #2
Cameron Novak
The Homefinding Center - Corona, CA
Featured Corona Real Estate Agent Team

A good first step is to get a referral to a reputable mortgage broker or contact a bank directly.

Jan 11, 2012 04:08 PM #3
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Good advice, Ava.  

   Get your Financial Affairs in order before looking at houses!

Jan 11, 2012 04:13 PM #4
Ava Anderson
A-Z Atlanta Realty - Snellville, GA
Selling Atlanta from A-Z!

Thanks Ted!

Elite Home Sales Team- I hope buyers will read it and give us a call.

Cameron- I think it helps be aware of what your up against even before calling that lender.  Sometimes people just don't realize that they have a little work to do and doing their homework always helps. 

Fred- getting the financial affairs in order is a definite must do.  I had someone tell me they thought their credit score was in the 600s and when they called the lender that wasn't the case. 


Jan 11, 2012 04:27 PM #5
Dave Sullivan
Real Estate One - Birmingham, MI
Michigan Realtor with an investor viewpoint

Good info,  There are 3 credit cards that I tell people to use when they want to start or improve there credit history,  I am not promoting anything I just want to share this info with you. http://www.thecreditguy.tv/how-to-start-a-good-credit-history/

Feb 07, 2012 08:15 AM #6
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Ava Anderson

Selling Atlanta from A-Z!
Thinking about Selling or Buying in Gwinnett Call Ava!
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