5 Things to know when buying a Home

Everybody keeps telling you what you should remember when buying a home, when there’s a lot of noise. And I want to kind of short. Yes. Five things that you need to know. By the way, you think to the end, I have an amazing, amazing opportunity for you to find out all about upmarket properties that are available for purchase in your area. And I want to give you the special link available, how our buyers have been finding properties before they’re even hitting Zillow or Redfin. So don’t get left behind. Watch the video and we’re going to get that link to you at the end. My name is Janine Sasso. I’m a local real estate agent in the northwest suburbs of Chicago. And I have buyers and sellers account. They are real estate. So let’s cut to the chase. What is it that you need to consider? First off, your financial situation. Now, I’m not going to sugarcoat it. You need to be aware of how much you can afford and how much you’re comfortable paying. One of the guidelines you have is that the housing payment should not exceed 50% of your income.

So what does it mean if you just you take your income, drop it in half, and we have fewer and fewer housing payments? If you have a dual income, I will take that payment, assuming you have a good job in it. Now, this is your maximum housing payment and it’s one of the easiest rules that you can follow. Next up, you’re looking at your credit score. Now, you credit score is important to the fact that it can give you a really, really good interest rate. Now, a credit score of about seven for you literally puts you in the category of I know how to manage my finances and you can borrow money to me and I’ll be responsible for you and me. Now, not everybody does have a credit score from 40, and if you don’t, that’s okay. We can borrow for you with credit score, that of the loan that you’ll be prepared to go into. Things might be this higher than that of somebody with a higher score. While we’re on the topic of the credit score, your credit score also might influence the type of you can qualify for this ongoing help that might help you in one way or the other. Either way, asking for more credit and having a holding income for having a loan time that will allow for on the low credit score, be prepared to do a little bit of research and make sure you have a lender that we have done something for and ask them what is it that is really in my best interest? And at the end of the day, we want somebody to look out for you. All right.

Two more things. When I talk about the size of the loan, you ever think the price of a loan is in our particular area where that’s not the biggest factor? The biggest factor that I really should be making, you know, dreams come true or I’m just not qualified for to help others have to pay attention to that after having a home that has 4000 hours and have to be here as opposed to having all that 10,000 miles next year is a huge difference between your monthly payment. That alone can spark like the 600 difference that I just went over. $500 a month. That’s a huge chunk of if you want to be prepared to maybe not qualify for the dream home and the test drive. Or maybe you can look for a little bit of a higher priced home loan. So be aware and don’t put it all up on the purchase price and an awful things. So and talk about the down payment now is a big getting money is definitely something that should be on that list. When I think about am I right? One of the things that always comes up is you want to want to do things.

You want to spend money. Okay, now we can work with a budget of as low as 3%. However, I do recommend that from the purchase price. You try and emphasize that because we want to make sure you have a little bit of cushion left in the main house after closing. Doesn’t get done, comes up. I call it my rainy day fund and it’s a nice piece of reassurance. So hopefully this will help us in our promise if you’re looking for an upmarket deal because you have not seen this ring on the market, so the w w w this ugly forward slash you can’t say anything, does www.bit.ly\secrethome And you can access them right there. My name is Janine Sasso. I’m a local Real Estate agent in the northwest suburb of Chicago, and I look forward to helping you connect with your goals in three.

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