Steps to Homebuying Why Pre-qualify The Loan Application Looking for a Home Glossary of TermsNobody knows the First Alphabet Better
We welcome the chance to guide you through the entire buying process, from viewing homes and financing, to making sure the final contract is in your best interest. Here's why you'll like working with us:
Personal Service
Our number one goal is to educate you on the current market. We have the reputation of providing strong, positive, aggressive representation and we provide outstanding personal service to each and every client.
The concept
You have a Buyer Specialist that is working just for you, but who is also a part of a larger group that is knowledgeable and active in the market so that you have access to an entire team with knowledge and experience.
Expert negotiating skills
In today's market, this is one of the most important values we can provide to you as our client. We know the area, the market and have the experience and information to negotiate from a position of strength during your transaction.
Aggressive Internet usage
We have made significant investments in technology to serve you better. Most buyers initiate the buying process by looking on the internet first. Our search format makes it easier than ever to navigate and look at properties for sale. Just click property search to see how easy it really is.
Locally owned
Tom Vance, lives in the First Alphabet neighborhood and has been a member of this community for years. He is also recognized for exceptional sales and marketing skills as well as for his professional and ethical approach to the clients and peers.
Steps To Homebuying
Step 1 - The Interview.
Step 2 - Showing Process.
Step 3 - The Contract.
Step 4 - Negotiations.
Step 5 - The Inspections.
Step 6 - Loan Interview.
Step 6 - "Waiting Period."
- Mortgage Company Credit Report Appraisal
- Title Company Title Search
Verifications
Underwriting
Approval
Assemble Papers
Settlement Date
You Are Now A Home Owner!
5 Great Reasons to be Pre-qualified by a Lender
- You spend your time wisely, looking at homes that you can afford.
- You will know in advance what your payments will be.
- You can select the best loan package with out being under pressure. There are many financing, option to choose from in today's market, and you will have the time to select the best option for your needs.
- The market in our area moves quickly. You may have a competitive advantage if you have your financing secured in advance.
- Peace of mind. You have the pleasure of pursing your dream without worrying about financing your purchase.
The Loan Application
Whether you're a first time buyer, buying a second home or your retirement dream home, here is the information a lender will need when you apply for financing.
- Employment Information
- Addresses for two full years
- Gross monthly income
- W-2's, if available
- Proof of pension, retirement, social security, etc.
- Year to date pay stub
If self-employed: two years 1040 tax returns
Current year profit and loss statement
- Each creditor's name, address and type of account
- Account numbers
- Monthly payments and approximate balances
- Names and addresses of saving institutions
- Account numbers for all accounts
- Types of accounts and present balances
- List of assets in stocks, bonds, land
- Life insurance cash value
- Social Security numbers for all parties
- If selling, another property, copies of sales contracts
- Cash or Check to pay for application fee
- If a Veteran - Certificate of Eligibility and DD-214
- Copy of Listing Sheet on Property
- Information on how appraiser accesses property
Searching for a Home is Easy!
The ultimate technology tool. The internet is no longer a new medium. It is estimated that 70-80% of people will start their property search by using the internet first. We embrace this technology. We see the internet as a critical convenience to offer you additional service. Click on "Home Search" to get started looking for your new home.
With our easy search format, it will take fewer clicks to look at available properties on the market. You don't have to log in or register to look at our featured properties or use our search.
Glossary of Terms and Definitions
Earnest Money Deposit
The money that accompanies an offer to purchase, as evidence of good faith. You write a check to the listing agents trust account at the time of the offer.
Escrow
The money collected by a lender each month to assure enough to pay for property taxes and property insurance when each comes due. This allows you to make one monthly payment for your houses principle, interest, taxes and insurance.
Title
The right to, or ownership of something. Represented by evidence of ownership such as a deed or bill of sale. It is the sellers responsibility to clear title.
Title Insurance
Insures against possible defects in title undiscovered in the title report. You have the option at closing to choose title insurance or to decline.
Mortgage Insurance
Some insurance policies require the lender to protect the mortgage company in the event of default on the loan. The mortgage company wants insurance on the lack of equity in the property.
Transfer Taxes
Fees charged by the State and County to transfer the deed from the seller to the buyer These are fees that you will see on your closing statements.
Discount Points
Charges made by lenders to adjust the effective rate of interest on a loan amount. Each discount point equals one percent of the loan amount.
Origination Fee
A lender's fee for origination of a loan. This is part of the buyers closing costs. Origination fees are disclosed on the Good Faith Estimate from your lender.
Real Estate Documents
Our expertise with contracts and forms makes your home buying experience smooth, easy and enjoyable. The following documents are examples of the most commonly used forms included in the purchase of real estate.
