Financing

Get your Financing under control

In this crazy economy is it really practical to think about buying a home?

If we can explain any steps along the way, please ask. We're always happy to help. If you think about it.. now it a GREAT time to buy a home. Not only are home prices at an all time low, but rates are as well. AND if more people start buying homes now, the economy will naturally increase. So if you want in on a great deal, now is the time to be thinking about buying.

Start with these steps to successful financing

  • Get pre-approved. Getting pre-approved is fast, easy and free. A written pre-approval includes a completed credit application and a certificate guaranteeing you a mortgage to a specified amount. With one in your pocket, you won't waste time looking at homes you can't afford. This also shows the seller you have done your homework and are serious about buying.

Examine your finances. How much can you afford to spend? While a lender will tell you how much you qualify for, it's up to you to figure how big a payment fits into your budget. What monthly dollar amount do you feel comfortable committing to? Remember to consider related costs such as insurance and taxes, as well as interest and principle. You don't have to buy as much home as you are approved for... don't forget this and be stuck in the same financial mess a lot of people are right now.

  • Consider what type of loan is best for you. Compare fixed-rate with adjustable rate mortgages. Look down the road. Where will you be in 15 years, 30 years? What obligations might you have? Take those things into consideration as you choose a loan.

Check your Credit Report. A lender will run a credit report on you (it only takes a few minutes), but you'll be ahead of the game if you acquire a copy first. You'll know exactly what's on it and be able to correct any inaccuracies.

Shop Around. When you're ready to get a loan, explore your options. You can choose either a direct lender or a mortgage broker.

    A direct lender has money to lend and makes the final decision on your loan. Brokers are intermediaries who choose from many lenders. A broker may be able to help find you a loan if you have special financing needs, but he or she will also receive a percentage of what you borrow.

    While you're shopping for a loan, also look for the best loan costs. These may include:

    • Interest rates
    • Broker fees
    • Points (each point is one percent of the amount you borrow)
    • Prepayment penalties
    • Loan term application fees
    • Credit report fees
    • Appraisal costs

    Clear up any financial problems. Do you have credit problems or owe money to the IRS? Buying a new home may still be a possiblity. Contact a financial advisor or tax resolution service to find solutions. Be sure to ask our agents about reputable lenders, escrow agents and each factor involved in purchasing a home. We can help you with all your Moses Lake real estate needs.

    MORE INFORMATION ON FINANCING:  Find all listings for the Spokane WA real estate market and Spokane County real estate and property including Deer Park and Medical Lake. List your Spokane Valley home with Exit Realty Jones and Associates Find all Enterprise Al Real Estate and Homes for sale in and around Coffee County including Enterprise, Elba, Ozark and Dothan. We also help military relocations and first time home buyers. Search all La Grande OR Real Estate and Union County Oregon Real Estate Properties (homes, ranches, farms, property, commercial) for sale and RMLS Listings in La Grande and surrounding areas in Union County and Baker City and surrounding areas in Baker County.  For Puyallup Real Estate and Tacoma Real Estate Agents here you will find an online home and real estate search including Pierce County and the Pacific Northwest brought to you by Alliance Real Estate Agents. For buying and selling any and all Kirkland WA real estate, contact Hallmark Realty. We are your Bellevue, Redmond and Kirkland real estate experts including all residential, commercial and property management.

    Your expert in Moses Lake real estate including all Soap Lake and Ephrata real estate. We can help you buy and sell all Moses Lake Washington real estate.