Have you ever wondered what would be the real costs of renting verse buying your next home? Whether you are a fist time home buyer, or re-entering the market knowing the real costs will allow you to make a better educated decision. The purchase of a home is a major financial commitment, one that will build your portfolio and over all wealth. Information is power, preparation is applied power.
On of the best way to be prepared is to obtain a loan approval from a lender. During this process you will provide documentation to verify your income, assets and employment. You will receive disclosures and a Good Faith to disclose the banks fees. This is an important step and should not be skipped. Your loan approval will also make your purchase bid a little sweeter since the seller knows you have already secured financing. Your real estate agent will be there to help you every step of the way, pushing for you.
When a bank is considering your loan, they may consider Freddie Mac's classic four C's.
Capacity: Your current and future ability to make your payments.
Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash.
Collateral: The home, or type of home, that you would like to purchase.
Credit: Your history of paying bills and other debts on time.
Once you have gathered the disclosures and loan approval, you are armed with precise financial information. You and your agent are now ready to shop the local inventory.
Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!
All real estate is local. York County South Carolina has a lot to offer. Whether you want to visit the lakes, or be entertained you will not be let down. York County also has medical centers and higher education centers available. If you are thinking of making a move, give us a call. We have the deep community roots and network to help you find your next home. We can show you all of the beautiful areas of York County.
We would like to invite you to visit ArbieTurnerHomes.com. We specialize in the Rock Hill, Fort Mill, Indian Land and Tega Cay areas of South Carolina. We have made available tours of subdivisions in each city for your review. We are deeply knowledgeable of these areas, which is why you want to choose us for your real estate needs.
We work hard for our customers.
Provided Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC
Hire a positive and proactive team of Realtors to help find your next home!
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