Advice for First time Home Buyers in Killeen Tx
Buying your first home in Killeen Texas can seem a quite confusing! But you'll be ready to do it with a little understanding of how it works and some good advice for first time home buyers in Killeen! It's really pretty easy!
Homebuying is a process and everyone who purchases a home goes through the same process (unless they pay cash). The process involves you, your realtor, your lender, and the title company, as well as associated service providers who may be called on if their specialty is required.
Let's break this down into steps:
Talk to a mortgage lender and ask to be prequalified for a home loan. That's all you have to do. The lender will take it from there! The lender will help you determine the price range you should target for the payment that fits your budget. You'll need a prequalification letter from the mortgage company, so be sure to get a copy. You'll need it when you made your offer on the house.
Ask your friends and family for recommendations for real estate agents. Google those names and read about the agents. Call and interview them to see you want to work with one of them. Agents with more experience are often the best choice.. they have a deep knowledge of the local housing market, as well as long term working relationships with lenders and title companies.
After choosing your realtor, you are ready to look at homes!
Find your home - Remember that no home is perfect and compromise is always necessary.
Work with your realtor to make your best offer on the property. Keep in mind that sellers can be insulted by very low offers. Keep it reasonable and negotiate!
Your Realtor will guide you through the negotiations that will get your offer accepted.
Once your offer is accepted, you are UNDER CONTRACT to buy your home!
Next, engage a licensed home inspector. The home inspector looks at the systems of the house, checks appliances, heating and a/c systems. Sometimes your perfect home turns out to be a money pit and an inspection can keep you out of trouble!
Work closely with your lender - submit all documentation as soon as you can. This is your main responsibility after you go under contract!
Your realtor, the title company and your lender will be pushing the process along for you. Trust that they want to close your home on time!
Once your loan file is complete and approved by the lender, you are ready for the last step of purchasing a home... CLOSING!
At closing, you'll spend about an hour signing loan paperwork and other required forms as the title company escrow officer explains what each one is. Once everything is signed and your lender sends your loan funds to the title company (usually same day) you will be an official first time home owner! Congratulations!!
This quick advice for first time home buyers in Killeen TX is meant to put the process in order and