Owning a home can be a great investment that allows you to establish wealth over time. Every time you make a mortgage payment you build equity, which increases your home’s value and future profit margins. We aim to help you enjoy these benefits by assisting you through the entire home-buying process. This includes listings, research, property visits, pricing offers, negotiations, appraisals, inspections, and closings.
Know How Much You Can Afford
One of the first steps in deciding if you’re ready to buy a home is knowing how much you can afford. Consider your income, along with other factors such as your credit profile, debt, and expenses. This includes car payments, grocery bills, student loans, and utility bills. Your savings accounts and investments can be used to fund some or all of your down payment. A rule of thumb the mortgage writers use when deciding to make a loan is that the monthly note is less that 33% of the applicant’s monthly income.
Few people buy a home outright. The three main financing options are conventional loans, Federal Housing Administration (FHA) loans, and the U.S. Department of Veterans Affairs (VA) loans. Conventional loans are through a bank or financial institution. To be approved, buyers have to meet certain credit score, income, and down payment criteria. With FHA loans, upfront costs usually are considerably low and credit requirements are more lenient. This type of loan is great for first-time home buyers, but there are restrictions on the type of home being financed. For example, it must meet FHA appraisal standards and be a primary residence. VA loans are guaranteed mortgage loans available to military veterans and service members.
Buying Your Home with an Agent
Licensed Keller Williams agents, such as Jeffrey Doussan Jr., have access to an exclusive and extensive database, making it quick and easy for them to locate homes that meet your criteria. Agents also write up contracts and paperwork, as well as formulate effective price offers.
Let Us Find Your Dream Home
When you work with Jeffrey Doussan Jr., your needs and desires always come first. Because consistent communication is one of our main priorities, you won’t have to worry about being out of the loop. As a client, you will even have access to our long list of professional resources, including mortgage brokers, electricians, inspection services, and more. If you are ready to begin the process of buying your dream home, call (504) 321-3063. You can also inquire online to learn more about our independently owned and operated agency.