Top First Time Home Buyer FAQ’s Answered

Dated: July 8 2020

Views: 266

How do I know if I qualify for a loan and how much I can afford?

Contact a mortgage lender to get pre-approval for a loan. The lender will ask you some basic questions about your income and debts and can tell you what amount you can be approved for, and how much your mortgage payments will be.

How do I know if I qualify for a loan and how much I can afford?

Contact a mortgage lender to get pre-approval for a loan. The lender will ask you some basic questions about your income and debts and can tell you what amount you can be approved for, and how much your mortgage payments will be.

Can you show me a house if it’s not your listing?

Absolutely. As a buyer’s agent, I can show you any house listed in our MLS system, and I will contact FSBO sellers on your behalf. Working with me, as your buyer’s agent ensures that your interests are protected.

What is escrow?

The escrow money, escrow deposit, or good faith deposit is money that is offered with an offer, or as soon as an offer is accepted, to show the seller that you are serious about moving forward with the purchase of the home. Because you forfeit this deposit if you back out of the purchase for any reason not allowed for in the contract, the larger the escrow deposit, the more seriously your offer is taken.

For more first time home buyer questions answered, Get my First Time Home Buyer FAQ Sheet to have this information on hand, plus Vocab and more! Email me (lindsey@orringerteam.com) to get your copy…

LINDSEY POWELL, REALTOR®

HOMETOWNE REALTY

919.410.8282

LINDSEY@ORRINGERTEAM.COM

www.facebook.com/LindseyPowellRealtor

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