Home Buyer Tips
        Erica Willingham

Buying a home can be made easier if you use these tips:

1. Make sure you feel comfortable with your agent. Ask for references, ask a lot of questions, and make sure you feel confident with your agent's knowledge. You should describe to your agent exactly what it is that you are looking for, using as many details as possible. This will help your agent to find homes for you that will better suit you.
2. Consider what monthly mortgage amount your budget will comfortably allow. The basic rule is not to exceed 29% of your monthly gross income (gross = before taxes and other deductions).
3. Choose the best mortgage for you. There are a lot of different mortgages out there to choose from, and for first-time buyers, there are even programs to help you with your out-of-pocket costs. Get "Good Faith" estimates from more than one lender before choosing.
4. Get a written pre-approval letter from your lender. This will show a seller that you will qualify to purchase their property, and will show that you are serious about signing a contract.
5. If possible, get in writing (from the lender) your "locked-in" interest rate. This will assure you that the interest rate you are quoted for your loan will be in affect for the allotted time frame given (30, 60, or 90 days).
6. Don't act too interested with the seller or listing agent. If they know how much you want the house, they might not negotiate as easily with you.
7. Go on the weekend and even at night to check out the neighborhood. This will give you a more realistic look at what the activity level of the neighborhood is like. Also check out the surrounding areas for anything undesirable.
8. Don't be afraid to NEGOTIATE. Ask for a comparative market analysis to see what the other houses in the neighborhood are selling for. Your agent is able to help you attain this. Be an educated consumer!
   

Buyers Tools and Resources

Mortgage Calculator

Glossary of Terms

Moving Planner

Phoenix Area Map