Begin your home search by being prepared and having your finances ready.
Frequently Asked Questions (FAQ)
Q: Should a home buyer get prequalified?
A: It is generally a good idea to get prequalified. Sellers are more willing to accept an offer if it is accompanied by a prequalification letter and some even require it up front.
Q: What is the cost for a prequalification?
A: Most reputable mortgage lenders do not charge for a prequalification.
Q: What should I do prior to looking for a home?
A: Gather all of your financial information Buying a home can be stressful and lengthy, but if you are prepared up front it will make the process much easier. Before you buy a home you should check with a local mortgage lender to see what type of loan you qualify for. You should know facts such as:
- Annual income
- Other home loans
- Credit card balances
- Other loan balances (vehicles, etc.)
- School loans
- Other factors affecting your income such as child support, tax payments, dividends, etc.
Note: Some loan programs do not require a down payment.
Q: If I find a home that is not listed by American Home Agents can they show it?
A: Yes. American Home Agents can show you any home, new or resale, no matter who is the listing broker. If you see an advertised home, see a home as you are driving through a community, or if you attend an open house, please contact American Home Agents and we can get you started towards the purchase process.
Q: Is it best to make a low offer right up front?
A: If your offer is too low you may take some unwanted risks. It is important to remember that if you make a low offer on a home and the offer is rejected or countered, another prospective buyer may submit an offer that may be accepted by the seller before you have the opportunity to submit another offer or accept the seller’s counter to your offer. Your American Home Agents agent will give you guidance on how to move forward with your offer and streamline the process.