Financing can be a tricky part of the home buying equation if you are not familiar with your options. Most first time home buyers really don't know where to start when buying a home in Portland, Vancouver, Lake Oswego or any of the outlying areas. Having a good agent from the start can really help but into alignment every detail that needs to take place in order to buy a home.
Whether you own a home now or not, you will need to be pre-approved before looking at home. There is nothing more frustrating then finding the home of your dreams only to discover you can't afford it.
GET PRE-APPROVED with a lender so you know where your price range lies. If you need to sell a home first, let your agent start that process with the right paperwork so you can still look for a home and your agent can create the transaction from buying one when selling another. It can be done, so don't think you can't look for homes while your current house is on the market.
If you don't own a home in the Portland Realty or Vancouver area or anywhere else and you have rented in the past, buying a home can sometimes be easier if, of course, you have the ability to finance a home or have cash out. Having a good down payment can really be a benefit not only to your loan but the cost of the home as well. Sellers like to see buyers that are on top of the homework necessary to buy a home. This is why pre-approvals are so important. It shows the seller that you are a serious buyer and can actually afford the home you are offering on.
Once you can present this letter with your offer, the seller knows you are about 90% approved to afford the home and very little in financing could effect the outcome of the transaction.
We want to help you through the entire process whether you are a first time buyer or have done this several times. Every transaction is slightly different and having a buyers agent on your side working for you the entire time can really save you stress and money.
Call us anytime or contact us on our website for any help buying or selling Portland or Vancouver WA Homes.