Estimated Expenses • Earnest Money: Typically ranges between 1-10% of purchase price • Inspection Fees : Between $500-1,000 Inspection fees can vary depending on size and complexity of property. • Appraisal Fee: Approximately $500 • Additional Closing Costs : Around What You Need To Get Pre-Approved • Social Security number • Two most recent pay stubs • Last year’s tax return • Two most recent bank statements • Last year’s W2
Consultation & Alignment • Discuss services, the buying process, and expectations. • Align on preferred home location, timeline, and key features. • Discuss pre-approval and financing. • Sign exclusive buyer broker services agreement. Budget Factors • Down Payment: 3.5–5% required. Additional loan programs are available for larger down payments. • Mortgage Qualification: Loans are determined by credit reports, assets, income, and property value. • Rates : Review current mortgage rates and discuss fluctuations and rate-locking options.
3% of purchase price, including title insurance, lender fees, and homeowners insurance.
What I Will Do For You • Recommend a local mortgage lender who can dramatically improve the outcome of your home buying experience. • Advise on current market conditions and trends that could affect your buying power and set expectations based on your budget. • Represent you and your interests and work as your trusted advisor from start to finish.
• Debt-to-Income Ratio: Between 33–38%
• PITI: Between 25–28% of your gross monthly income: Principal on Loan, Interest on Loan, Property Taxes, and Homeowners Insurance. Financing & Pre-Approval • Review mortgage sources and services and identify different mortgage products. • Connect with mortgage lender to obtain pre-approval.
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