Homebuyer’s Handbook

A Step by Step Guide WHAT TO DO FIRST

Know Your Credit Score. Know where you stand; check your score first! Make sure the information on your report is accurate. Meet with a Mortgage Specialist. Make an appointment with a lender to get pre-approved for a home loan. He or she will explain different types of loans and discuss your budget, money needed for down payment and closing costs.

Gather Important Documents. In most cases, you will need to provide 2 years of income tax returns, 2 years of all W-2s, and 2 months of bank statements and pay stubs. Bring these items with you when you meet with the lender.

Decide What You Want in a Home. How many bedrooms and bathrooms do you need? What size home would best suit your family’s needs? Do you prefer a small yard with minimal upkeep or large acreage? Is school district an important factor?

Pick Your Own Agent. Experienced agents are skilled in helping buyers navigate the home buying process smoothly. You do not have to call the agent on the sign of the house you want; you are entitled to choose your own agent to represent you. Any Realtor will be able to show you any house on the market! You do not pay anything extra for the agent, they get paid at closing.

What Not To Do

Change Jobs. Stay in your current position if possible. Lenders like stability.

Make Major Purchases. Don’t buy a car or make large purchases after you get pre-approved for a loan. Applying for new credit does affect your credit score.

Default on Payments. Your score drops every time you miss a payment.

Co-sign for Family or Friends. This is usually never a good idea, especially when house shopping.

Cancel Credit Cards. You can pay them off, just don’t cancel them. Doing so can lower your score.

Get Attached to the First Home You View. Many factors are involved in a successful real estate transaction. Be patient and know the perfect property is waiting for you!

Give up. Whatever you do, don’t get discouraged! Purchasing a home is a rewarding experience and a wonderful investment. Keep looking if you do not find what you are looking for right away. Be patient and know the perfect property is waiting for you.

Purchasing a home is not complicated or scary when you know what to expect. With over decade of experience in the real estate industry, we can help you reach your goals whether you’re a first time home buyer, interested in buying investment property, or looking for your forever home. Cypress State Realty is a small, family-owned business and was created with real people in mind. We believe that knowledge is the key for buyers to make informed decisions, and we value the personal relationships and trust we have with our clients. Service is the cornerstone of our business. We look forward to serving you with all of your real estate needs!