Buying a Home .pdf
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Buying a Home
A Quick Guide to the Home-Buying Process
James M. Fisher
Why Work With James?
Above understanding the technical aspects of real estate, my business is built on relationships. I am
committed to keeping you up-to-date on events surrounding your real estate needs. As my client, you are
my priority, but it is also essential everyone involved in a transaction remain united, well-informed and feel
comfortable throughout the process as well.
My understanding of excellent customer services and contract negotiation stems from a colorful and
decorated sales and client services background. While working for Microsoft, I was known for my smooth
and seamless transactions. In addition to ten years of experience in sales and client services, I am an
active community member volunteering my time to local adult and youth organizations.
I believe in service that does not stop after contracts and closings. I want to be your Realtor for life. I
genuinely listen and will work tirelessly on your behalf to deliver results. My upbringing and training are
key to what makes me disciplined, attention to detail and focused on the follow-through I bring to my
James M. Fisher
PRE-QUALIFICATION & PRE-APPROVAL
HOW MUCH HOME CAN YOU AFFORD?
There are three key factors to consider:
1. The down payment
2. Your ability to qualify for a mortgage
3. The closing costs associated with your transaction.
DOWN PAYMENT REQUIREMENTS:
Many loans today require a down payment between 3.5% and 5.0% depending on the type and terms
of the loan. With a 20-25% down payment, you may be eligible to take advantage of the standard
conforming loans and possibly eliminate mortgage insurance.
You will be required to pay fees for loan processing and other closing costs. These fees must be paid in
full at the final settlement, unless you are able to include them in your financing. Typically, total closing
costs will range between 2-5% of your mortgage loan.
QUALIFYING FOR THE MORTGAGE:
Most lenders require that your monthly payment range between 25-28% of your gross monthly income.
Your mortgage payment to the lender includes the following items:
The principal on the loan (P)
The interest on the loan (I)
Property taxes (T),
The homeowner’s insurance (I).
Your total monthly PITI and all debts (from installments to revolving charge accounts) should range
between 33-38% of your gross monthly income. These key factors determine your ability to secure a
home loan: Credit Report, Assets, Income, and Property Value.
The Top 10 Things
You Should NOT Do Before Closing Escrow!!
10. Increase balances on existing credit cards or apply for new credit. (no credit checks
should occur during the entire loan process!)
9. Purchase a car or shop for a car.
8. Open a new bank account or make large deposits. (the source for all deposits over
$500 showing on the last 2 months bank statements needs to be verified)
7. Transfer funds from one account to another.
6. Shift credit card debt from one Creditor to another.
5. Sell major assets.
4. Get married, divorced, or go on maternity leave.
3. Go on vacation…making you unavailable to the Lender.
2. Borrow money from any source.
1. Change employers or quit your job
What You Can Expect From Me:
Objective – Get you in the home you WANT!
Communicate with you consistently and frequently
Negotiating contracts on your behalf to ensure you get the best possible price and service
World-class customer service
My undivided attention
Phone calls, texts & emails returned same day
Keep you up-to-date and educated throughout your home buying process
Honest & specific advice
What I Expect From You:
Communicate with me consistently and frequently
Honesty & feedback regarding any concerns you may have throughout this process
Financially prepared to purchase a home
Questions about things are you unclear on
Your referrals! If you think I'm doing a good job, so will your friends, family & colleges
1. Review Listings
Going forward, I will present you with all available listings which fit your requirements. You can also search
for listings yourself using various online public sites such as Windermere.com, Zillow, and Trulia
2. View Properties
Scheduling showings and accompany you on each appointment. You can also view homes by going to open
houses, which again I highly encourage!
3. Title Search
A check of the title records to ensure that the seller is the legal owner of the property and that there are no
liens or other claims outstanding.
4. Make an Offer
A written contract signed by you and seller stating the terms and conditions under which the property will be
5. Earnest Money Deposit
This is a deposit which secures the contract until the closing.
A thorough inspection by a professional that evaluates the structural and mechanical condition of a property.
A satisfactory home inspection is often included as a contingency by the purchaser.
A written justification of the price paid for a property, primarily based on an analysis of comparable sales of
similar homes nearby.
The real estate transaction is "closed" once the documents record at the local recorder’s office and the funds
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