Considering Buying a home - How do you get started?
The Marcelino Team breaks it down for you here step by step. Purchasing a new home is one of the most important steps you will take to secure your future. Understanding the process will ensure your success! You want to work with trusted advisors.
Step 1 – Align with a Realtor
Why Choose The Marcelino Team?
· Family owned business with combined 76 years of experience who prides itself on honest, high quality service. We have been serving Homebuyers since 1977. We can guide you through the process from finding the right home, finding the right lender for you (not all lenders are the same and have what you may need for financing), inspection, Attorney, etc.
· More to come in the next slide ...
Step 2- Align with a Lender
Pre-Qualification or Pre-Approval? What do I need to provide to prove my income? How will I know how much I qualify for? What do I need for my Realtor to provide proof of funds? These are just some of the questions you will consider in taking this next step.
· Begin with The Marcelino Team! We can give you guidance on what you will need for your appointment with your lender.
· Consider your current banking institution.
· Another local bank or Mortgage Company.
· If you aren’t sure where to go, we would be happy to provide you with recommendations.
What will I learn from my lender?
A lender will tell you based on your income and expenses what you will qualify for in a mortgage and what the estimated monthly expenses would be for that mortgage.
Questions to ask your lender.
· What type of loan programs do I qualify for?
· How much money will I need to put down?
· What are closing costs, who are they for and how much do they cost?
· Are there any other fees I should know about?
What not to do
Be sure if you are shopping lenders you do not let them all pull your credit report, this could cause your credit score to drop. Wait until you have made the connection with the lender you want to work with.