Buying Guide
What I Do for You
Initial buyer consultation
Set-up customized MLS search for homes matching your criteria
Lender referrals
Market analysis
Negotiation
Inspections and appraisals
The Importance of Working with a Buyer’s Agent
A buyer’s agent acts as a liaison between you and the seller. While this seems simple enough, a buyer’s agent does so much more and all in your best interest. Here are some reasons not to take on buying a home alone.
OFFER TERMS
There are several decisions to make when submitting an offer, from what appliances are included in the sale to how the tax payment will be handled. We provide guidance regarding what terms will be best for you and will help your offer get accepted.
NEGOTIATION
We are specially trained to negotiate on your behalf. This allows you to focus on what you want and need out of the agreement. We handle the difficult conversations for you.
EXPERTISE AND RECOMMENDATIONS
When touring homes, what do you look for other than the perfect kitchen and a large master bedroom? We know what red flags to watch out for and how to work through them. If the home inspection reveals that the home’s foundation needs repair or the chimney ashing needs to be redone. We know who to call!
GETTING THE FACTS
We all know the saying, “Don’t believe everything you read on the internet.” We know where to get reliable information, which is what you need for a purchase as important as your home.
NO COST TO YOU!
Yes that’s right, typically the seller covers the commission for the seller’s agent and the buyer’s agent.
The Home Loan Process
Before the home shopping process begins, you’ll need to select a lender that you would like to work with and get pre-approved for a mortgage. Having a great local lender is imperative to a successful home buying experience. I would be happy to connect you.
Types of Mortgage Loans
With so many loan types available, it can be a daunting task to find the loan that’s right for you. Speaking with an experienced professional will help you narrow down the possibilities. Here are a few popular loan types and financing options.
15-30 YEAR FIXED
30 year fixed rate loans are the most popular home loans because of the predictability and low risk. You pay the same amount every month for x number of years until the home is paid off.
ARM
Adjustable Rate Mortgage or ARM offers low interest rates for the beginning of your loan (5-10 years). Typically, your rates rise higher than a fixed rate loan. This is the perfect choice for those who will pay off their loan quickly.
FHA
With a Federal Housing Administration loan or FHA, you can secure a mortgage with as little as a 3.5% down payment as opposed to the 20% usually required by most other loan options.
CONVENTIONAL
If you have good credit and at least a 5-20% down payment available, you can qualify for this non-government, private loan. Mortgage insurance is not required if you have a 20% down payment.
DOWN PAYMENT ASSISTANCE
Did you know the state of Michigan offers a down payment assistance program as well as many other organizations? I can assist you in finding out what you may qualify for.
RURAL DEVELOPMENT LOAN
The Michigan USDA Rural Development loan is a great loan option that allows home buyers to buy a home with no down payment and flexible mortgage terms. Beyond the down payment, RD loans have several other benefits including low mortgage insurance (PMI) in the form of a guarantee fee, low mortgage rates, and easier requirements than a conventional loan.
VA HOME LOAN
This program is only available to Veterans or the eligible dependents of Veterans. Some of the benefits of a VA Mortgage Loans can be a no down payment, no mortgage private mortgage insurance, broader credit score spectrum and more.
“Such a stellar experience with Janet! We just left closing saying we have to recommend her to everyone moving into the area. She was so patient with all our questions and our lack of area knowledge from moving from out of state. What impressed us the most was that Janet didn’t just want to sell us any house; she wanted to help us find what we were hoping for, and she did!”
-Shelley R.
