How Trusted Professionals Make Homebuying Easier to Understand

By
Real Estate Agent with REMAX Realty Group Lic. # SL3154233

In the spring, many excited buyers get ready to enter the housing market. Others continue dreaming about the homes they’d like to buy. The truth is, many potential buyers continue to dream longer than they need to, simply because they’re confused about the homebuying process. Thankfully, working with a trusted real estate professional can help ease those concerns and make the process to home-ownership much easier to understand.

A recent survey conducted by Ipson and Freddie Mac reveals the confidence level of Gen Z and Millennial buyers regarding the home buying process. The graph below shows the breakdown of the top results, clearly indicating there’s a significant portion of younger buyers who are not yet confident with some of the steps in the home buying process.

buying process with a expert realtor in lehigh

Between the home buying process and the mortgage process, there are 230 possible steps in the transaction. With trusted professionals on your side, you certainly don’t have to know them all to have a successful experience.

There are many reasons why these steps can change as you move through each one. Depending on your personal circumstances, the term or your mortgage, and the type of loan you use, the path you take may need to vary. That’s why guidance and support from the experts is key.

In addition to the process itself, respondents in the survey definitely expressed concerns about understanding the types of loans available. Here are just a few of the basic loans to consider. Be sure to speak with your lender about the specifics of what will work best for you:

  • FHA: Loans guaranteed by the Federal Housing Administration for first-time buyers. They generally enable qualified borrowers to enter the housing market with a lower down payment.
  • Conventional: Loans that usually require a larger down payment. Repeat buyers usually use these types of loans since they have an established credit history as well as more money from the sale of their previous home (called equity) for a bigger down payment.
  • VA: Loans available for Veterans of the U.S. Armed Forces and their spouses. They are guaranteed by the Department of Veteran Affairs.
  • USDA: Loans for those living in rural and suburban areas. A qualified lender can issue a USDA home loan, and they are guaranteed by the United States Department of Agriculture (USDA).

Interest rates also popped up as a common area of confusion among Gen Z and Millennial respondents in the survey. With today’s rates hovering at near historic lows, it’s a fantastic time for buyers to get more house for their money in the current market. Why? When mortgage rates are this low and wages are increasing as they are today, overall affordability increases, enabling home buyers to stretch their mortgage dollars further. It’s just another area where a trusted professional can help simplify the process and give guidance along the way.

Bottom Line

There are many possible steps in a real estate transaction, but they don’t have to be confusing. To understand your best course of action, reach out to your local real estate professional: Abby Stiller to ensure you have a trusted adviser who will help you feel confident and informed at every turn.

 

information provided by KCM

 

Posted by

 

Abby Stiller 

Realtor® Lic. #3154233    

12 Years of Experience

RE/MAX Realty Group    Cape Coral Fort Myers Naples  Realtor Cape Coral      

 

I help Home buyers find their dream home & Homeowners sell for more. Thinking of buying or selling? Call/Text me: 239-284-8637   Your Honest & Dedicated Realtor!

or visit: www.TeamStiller.com

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Will Hamm 03/10/2020 08:13 AM
Topic:
Home Buying
Location:
Florida Lee County Cape Coral
Tags:
home buying process
first time home buyers
downpayment assistance
local realtor
home buyers tips
rsw

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Rainmaker
167,745
Raymond Henson, SRES, GRI
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

There certainly are a lot of moving parts in a transaction.  Any buyer in your Florida areas best be calling you for their trusted professional.

Feb 27, 2020 05:38 PM #1
Rainmaker
405,952
Gwen Banta
Sotheby's International Realty - Los Angeles, CA

Abby, this is an excellent post. Thank you for your contribution.

Feb 27, 2020 06:21 PM #2
Rainmaker
5,265,700
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Abby Stiller good job with this post....I think Genx and Millenials are so overpowered with the magnitude of information about buying, they have a difficult time mastering it....and those two groups need to have it mastered .... they are cautious and slow to make decisions...

Feb 28, 2020 05:25 AM #3
Rainmaker
3,344,964
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Abby, great information in your blog for us here in the rain.  I may want to reblog it some time.

 

Mar 01, 2020 10:03 AM #4
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Rainmaker
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Abby Stiller

Professional Bilingual Realtor (239) 284-8637
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