Buying a home for the first time can be very stressful. This could be avoided if you had the answers to those questions all first-time home buyers come across. The process can seem complicated that is why Saddlebrook has provided the necessary information you will need to get started.
The integrity, quality and follow-through of Saddlebrook is apparent throughout the entire building process. Building a home from 1,000 miles away can be difficult, but Saddlebrook has made it easy. We highly recommend a Saddlebrook home.
- Nick and Susan Vanacore |
Selecting a Home
- Does it meet your needs in square footage?
- Does it have all the necessary rooms that are needed by your family?
- Is it in the right school district?
- How is the location for medical assistance, interstate access and shopping?
Secure a Mortgage – What You Will Need
Seller may require a prequalification or preapproval letter within 5-7 days of writing a contract.
Items needed to complete your mortgage application:
- Pay stubs for last 30 days
- W-2 for last 2 years
- Name, address and phone numbers of employers and landlords for past 24 months
- Most recent statements for all checking/savings/brokerage/stock/retirement accounts
- If self-employed or commissioned, copy of past 2 years Federal tax returns with all schedules
- A check or money order for the credit report and appraisal fee
Questions to Ask
- Can I afford the purchase?
- How much money will I need up front?
- What will the interest rate be? Variable or fixed?
- How much will the monthly payment be?
- How many years will it take to pay off the mortgage?
- How much cash will I need at closing?
Homeowners Insurance
Before going to closing, your mortgage lender will require you to have Homeowners Insurance. At the closing, you must provide proof that your policy is valid and in place.
Closing
A Title Company has been selected and a time and date has been reserved for your closing to take place. You will be supplied with the following by the seller or Title Company:
- Breakdown of closing and mortgage settlement costs
- Original Purchase Agreement (your Mortgage Lender will require this)
- Title or Deed
You, the purchaser, will need the following at closing:
- Your Drivers License
- Certified funds for down payment and closing costs
- Proof of Homeowners Insurance
- A copy of your previous closing statement if you had to sell another home to make this purchase
* Be sure the utilities have been put in your name! |
