Real Estate

Before you look for homes with your REALTOR....call your bank or mortgage professional to get pre-approved! It is very important to understand the costs involved in buying a home and it's best to have a loan professional review the process and associated costs with you. Once you have the information you need to make an informed decision when purchasing your home--you will have a better experience.

Your mortgage professional will go over your finance options as well--Can you obtain a Conventional loan, do you qualify for a VA or FHA loan? Is a 30 year-fixed loan your best option? Do you meet the loan-value ratio or will you need to pay mortgage insurance? How much of a down payment are you able to pay? Also, will you need flood insurance or pay HOA dues?

They will provide you with an estimate of closing costs as well. These are just a few topics to be aware of when securing financing for your home. 

Remember that you need your pre-approval to submit an offer on a home since the seller wants to be confident that you are able to afford to pay for the home. And, if you get a pre-approval from one source you can call other banks or mortgage brokers to find the best interest rate and terms for you.

When you are informed and know how much you can spend on a home, it makes the process easier and helps your REALTOR search for homes that are in your budget. It is an important process and the more information you have the smoother the transaction becomes. Your REALTOR is there for you as well! If you have any questions or need guidance, please ask!

As always, I am here to guide you on your real estate journey--contact me for additional information. It' a great time to buy! The Spring market has started!

My cell is 908-419-3333 or email me at jill.skibinsky@coldwellbankermoves.com