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 So you're ready to become a homeowner?

READY TO BUY?

Ask yourself these questions to decide if you're ready to take the homeownership plunge.

Have you research the market? Knowing what homes are selling for in the area can help you determine how much you should plan to spend.

Call Jerry Lampert to set up an appoinment to see what you can qualify for: 360-620-5647.

Do you have sufficient savings to cover down payment and closing cost?

VA~No down payment required

FHA~3.5% down payment required

Convetional~20% or more down

Expect have:

0%-20% of the sale price in the bank to cover your down payment, plus another 2%-7% to cover closing cost. Closing cost is a negotiation tool between buyer and sellers, never count on the seller covering 100% of your closing cost, be prepared. Closing cost may be rolled on top of Purchase Price and added into loan cost.

Money Needed up Front:

1. $500.00-1% for Earnest Money Deposit to show you are a true buyer, this money can be structured to come back to you as the buyer at the time of closing.

2. $300-$500 for Home Inspection

3. $400-$500 for appraisal may need to be covered up front and paid back to you at the time of closing.

Do you know how much home  you can afford? A mortgage payment should not d not exceed 25% of your gross monthly earnings. A home that suck up more that a quarter of your income may lead to financial difficulties.

Is  your credit report accurate? Inaccuracies on a credit report can  cost you higher interest rates. Request your credit report from all three nationwide credit bureaus and report mistakes immediately.  You should do this on annual basis.

Call Joana Hoover, The Momentum Groups Team Leader, today and she can help point you in the right direction toward homeownership.  360-362-2700