Top First Time Home Buyer FAQ’s Answered

Dated: July 8 2020

Views: 654

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

Latest Blog Posts

My top 5 tips for first time home buyers in this crazy market!

Buying a home for the first time in any market can be a little stressful. Unfortunately our current market in Eastern NC makes it a little more stressful with the multiple offer situations and homes

Read More

My top 5 attractions living in Fayetteville

I moved to Fayetteville when I married my husband, Alden in 2018. Fayetteville is honeslty a place I never imagined myslef living, but I am sure glad we ended up here. I have truly grown to love it!

Read More

The Market is Crazy! Why should I buy a home now?

I get asked this question all the time.  Why is now such a good time to buy? I hear that inventory is low and home prices are climbing, so shouldn't I wait to buy a new home until the market

Read More

Top First Time Home Buyer FAQ’s Answered

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

Read More