Valuable Info for First Time Home Buyers in Louisville Ky
First Time Home Buyers In Louisville Ky
Starting the process of buying your first home can be exciting and overwhelming at the same time. There are many benefits and responsibilities that come with being a home owner. Some peoples lifestyle or career path may make them not the most suitable for home ownership. These are a few decisions one needs to make prior to the consideration of purchasing. Taking the time to prepare and educate yourself is very important and will give you the confidence you need to follow through and find a first home your completely in love with. This statement stands true in any event, surround yourself with experienced and knowledgeable people. Talk with any friends or family members that have more experience than one home purchase. Even better consult with a professional agent. There is absolutely nothing wrong with asking for advice, and I wouldn't recommend even looking at your first house beforehand.
Speak with a professional agent
This should be your first step, and it costs you nothing. Most good agent have worked with many first time buyers and has the experience built from their past clients and will use that to help you. I recommend researching the agent first, checking reviews is a great source of how valuable they have been to other buyer in the past. Set up a meeting with a few different agents you are giving thought to working with. You need to feel comfortable and confident with the agent you choose to work with during an important life making decision. We are obviously here for you, would love to meet and can be reached anytime through are website and www.searchhomeslouisville.com.
Speak with a lender
Finding out your credit score, along with debt to income ratio are just a few things you should know before meeting with a lender. They are going to want to sit down with you and discuss your situation first. This must be done before house shopping, otherwise you will not have an accurate price range your shopping in. If they feel you are in a good position to apply for a loan, you will be asked to present some documentation. History at your current job plays a main factor and shows the lending institution your are reliable, and are capable of long term responsibility. Typically two or more recent paycheck stubs with two months of your bank statements (if no pay stubs, proof of direct deposits will show in the statements), along with 2 years of W2's and tax returns. There are options for first time home buyers, certain loan types and buyers assistance programs. Your lender will be able to determine what's the most beneficial option for you. We have a group of Lender's that we prefer to work with. We've found them to be exceptional at what they do, and provide a wealth of knowledge to our clients. We recommend to any that they speak with them. http://searchhomeslouisville.com/finance
What Where When??
These are some of the basics that you should be thinking of because they will come up first thing when meeting with any agent. What is your time frame on purchasing a house? Will it be this month or six months, or a year from now? Are there any events in your life that will determine the timeline in which you plan to purchase? Many people have steps they need to take financially before making the actual purchase, which is why we recommend to start planning at least six months in advance, a year is even better. Giving yourself as much time to gather knowledge about the entire process, along with watching the market in the area you wish to purchase in will give you knowledge and confidence.
Time To Start Shopping Homes
Now that you know your price range and have your financing secured, along with all the other steps above, it's time to get serious. Over 90% of home buyers start their house hunting online, and continue all the way till they find the right one. Working with an agent, or even better, an agent team with a good website and knowledge of the market can help make things easier for you. Our website is updated hourly, has many features, and offers so much to the online shopper. We recommend giving it a try, http://searchhomeslouisville.com/. You can start your own account by simply entering your email and that will allow you to keep any homes you find in one place.