Deciding to buy a house
It is important to consider your _________ to stay in one place for awhile.
Willingness
It is important to decide how much you can _____ for a house.
afford
Who should help you look for your perfect home?
A real estate agent
How many business days will you receive before closing on the loan details of your home?
You should look at the housing market, economic health, and current mortgage rates because _____ is key.
Timing
What should you have saved up that you will have to pay for a portion of the total cost of the home?
Down Payment
What should you rank from most to least important when looking at potential homes for yourself?
Priorities
What should you do one last time to make sure that the seller has everything in order?
Walkthrough
When making the decision, it is good to evaluate the amount of mortgage debt you can take on, which is called?
Debt to Income Ratio
You will get a pre approval letter based off your ______, _______, & ______ that states how much you have been approved for.
Credit, assets, and income
Name 3 factors that you may look for when deciding on picking the best home for you.
School district, property taxes, # of bedrooms, etc.
Who should you hire to check for hidden damages in your new home?
Home Inspector
Your ______ _______ qualifies you for loans and interest rates, which is important for you to evaluate and make changes if needed.
Credit Score
What are the 4 types of loans that are available to you when deciding to buy a new home?
Conventional loans, FHA loans, VA loans, and USDA loans
What are 2 common damages that you might find when looking for a new home?
Mold, leaks, electrical issues
Before closing the deal, you should do what to make sure you are not paying more than what the house is worth?
Home Appraisal