So Your Ready to Buy a House? Now What?

By
Mortgage and Lending with Premier Servicing Company, LLC

 

So Your Ready to Buy a House?  Now What?



You've made your decision and are ready to pursue homeownership.  What's next? 

EDUCATE YOURSELF!  


  • Check your credit:  Your credit history is going to determine what kind of loan you qualify for and what kind of interest rate you are going to pay.  

You can check your credit for free through each of the 3 bureaus every 12 months.  Stagger your inquiries so you are checking your credit through one of the 3 bureaus every 3 or 4 months.  You can look at your credit report by visiting annualcreditreport.com.

If you don't like what you see on your credit, here are 
10 FREE Ways to Improve Your Credit Score and Raise Your Fico STARTING TODAY

  • Decide what you can comfortably spend each month on a mortgage payment:  Don't forget to take taxes, insurance and maintenance into consideration.  

REMEMBER: What the bank "says" you can afford and what you "know" you can afford can be two different things.  Don't get in over your head.  Your loan officer will be able to calculate your loan payments based on the property your are interested in.

  • Understand the loan for which you are applying:  Make sure you completely understand the type of loan your loan officer is suggesting you use.  

Is it an adjustable rate mortgage?  Is there a pre-payment penalty?  Are you paying mortgage insurance and, if so, for how long?  Fully educate yourself so you don't get an unwanted surprise down the road!

  • Go out and start making offers:  Don't be afraid to offer less than what the seller is asking.  This is a buyer's market and most sellers are expecting a lower offer than the asking price.  
     If you haven't decided on a specific loan program yet, let me recommend the
    Guaranteed Rural Housing Loan Program.  




If you have any questions or need additional information, please feel free to contact me directly at the number listed below.  I specialize in the Armstrong County, Kittanning, Ford City and Rural Valley areas of Pennsylvania

To apply online with 1st Metropolitan Mortgage in New Stanton, PA, please click here.

 Please contact me directly 724-783-7180 or jkladny@hotmail.com for more information on this or any other programs available.  Thanks!  JENNIFER KLADNY - Loan Officer for 1st Metropolitan Mortgage, 151 East Pennsylvania Avenue 
New Stanton, PA  15672

Licensed by the Department of Corporation under the California Residential Mortgage Lending Act.  Licensed by the Pennsylvania Department of Banking.


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Show All Comments
Rainmaker
412,298
Mesa, Arizona Real Estate Mesa Arizona Realtor
Teri Ellis at Homes Arizona Real Estate LLC - Mesa, AZ

Jennifter great job on this post. Love your layout, photos and your larger/colored font AS WELL AS the information you shared for the consumer. ;-)

Pepper

May 11, 2008 04:57 PM #1
Rainer
15,600
Jennifer Kladny
Premier Servicing Company, LLC - Kittanning, PA

Thanks so much for your kind words!  I appreciate your feedback! 

May 11, 2008 05:02 PM #2
Rainmaker
261,833
Chuck Willman
Gentry Realty - Mesa, AZ
Realtor - Arizona - 480.292.0600

Very good information Jennifer... especially the part about knowing and raising the credit score. I have so many clients who are just a step below qualifying. I think they're surprised to find how little it takes to improve this. It's always helpful to have someone "unravel the mystery" of credit.

May 12, 2008 12:43 AM #3
Rainer
35,317
Dan Woodworth
The Connection - Garden City, ID
Encouraging Communicator

Hi Jennifer,

Thank You for your clear and compelling points!

A home is a major investment!

May 12, 2008 05:49 PM #4
Rainer
15,600
Jennifer Kladny
Premier Servicing Company, LLC - Kittanning, PA

Thanks Dan!  Good seeing you again.  I will follow your posts!  JENNIFER

May 12, 2008 06:19 PM #5
Rainmaker
640,198
Marchel Peterson
Results Realty - Spring, TX
Spring TX Real Estate E-Pro

JENNIFER, Great information for anyone looking to buy a home.  It sounds like you still have some creative loan programs also.

May 12, 2008 10:50 PM #6
Rainer
15,600
Jennifer Kladny
Premier Servicing Company, LLC - Kittanning, PA

Thanks Marchel!  Always good to hear from you!  JENNIFER

May 15, 2008 04:08 PM #7
Rainer
35,317
Dan Woodworth
The Connection - Garden City, ID
Encouraging Communicator

Hi Jennifer,

Thank You for kind comments to my post today!

They really mean alot to me!

May 15, 2008 05:19 PM #8
Rainer
15,600
Jennifer Kladny
Premier Servicing Company, LLC - Kittanning, PA

Dan - you are more than welcome!  You are very inspirational!  JENNIFER

May 15, 2008 06:55 PM #9
Anonymous
Anonymous
Anonymous

Very informative article. Buying a house is a serious decision. It is the largest purchase one has ever made in his life. It is not an easy task to find an ideal place to live. Recently I have come across one interesting service http://climate.fizber.com/ With the help of climate watch homebuyers can check what the climate is like in another town or city before they move there.

Jun 28, 2008 05:46 AM #10
Rainer
15,600
Jennifer Kladny
Premier Servicing Company, LLC - Kittanning, PA

Thanks for stopping by Jack - and for providing this great info!  JENNIFER

Jun 30, 2008 11:40 AM #11
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Rainer
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Jennifer Kladny

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