“Appreciated the clear options and communication”
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rachael f
Mortgage Basics Binder
Mortgage Basics
Buying a home for the first time can be overwhelming, especially when it comes to mortgages. I've worked with many first-time buyers who feel intimidated by the process, but once they understand the basics, they're able to move forward with confidence. Typically, the first step is to get pre-approved for a mortgage, which gives you an idea of how much you can borrow and what your monthly payments will be.
In most cases, you'll need to provide financial information, such as pay stubs and bank statements, to get pre-approved. Generally, lenders look for a stable income, a decent credit history, and a manageable debt-to-income ratio. If you're unsure about your credit history, we can review it together and discuss ways to improve it. I've seen many buyers successfully purchase a home with credit scores in the mid-600s, so don't worry if your score isn't perfect.
Once you're pre-approved, we can start looking at homes that fit your budget and needs. I'll guide you through the process, from making an offer to closing the deal. Along the way, I'll explain the different types of mortgages, such as fixed-rate and adjustable-rate loans, and help you decide which one is best for you. You may also be eligible for programs like FHA loans or VA loans, which can offer more lenient credit score requirements and lower down payments.
Some key terms to understand include down payment, which is the amount you pay upfront, and closing costs, which are fees associated with the home-buying process. In most cases, you'll need to pay 3.5% to 20% of the purchase price as a down payment, and closing costs can range from 2% to 5% of the purchase price. For example, if a home is worth $300,000 and you put 10% down, your down payment would be $30,000, and your closing costs might be around $6,000.
I'm here to support you every step of the way, and I want to make sure you feel empowered and confident throughout the process. By working together, we can find the right mortgage for you and get you into your dream home. Whether you're looking for a
- single-family home
- condo
- townhouse
I'll help you navigate the process and make informed decisions.
“The initial call with Becky she provided so much education and really let us take lead from there”
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shelby j
“Becky was very helpful and helped explain everything. She was responsive to my texts and helped close the deal with quick closing time”
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kelly r g
“Great communication, friendly manner, available for contact and questions and offered easily understood explanations,”
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joan m f
“It was fine”
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gary h
“For various reasons beyond Becky's control, my load application was denied twice. But Becky never gave up. She kept giving me options to make sure I had a chance of getting the place I wanted. She also did a great job of making a complicated process easier to understand.”
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michael s b
“Becky helped make this deal happen, despite my complicated financial situation and a very difficult seller. I honestly feel like I couldn't have done it without her!”
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laura w
“Becky went out of her way to communicate with lenders on issues related to the loan. Most agents would not make the efforts she did for our loan. She was patient in times when needed. Overall very good understanding of customers and lenders issues. She orchestrates the deal as sometimes it takes someone to do so.”
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brian b
“Clear communication”
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kenneth t