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America's Real Estate Experts, is your local near me Northwest, Indiana and surrounding areas, First-Time Home Buyer Real Estate Brokerage. We offer so much more value to you then just being awesome Real Estate Agents. Our 3 Companies, 1 Home Motto is a testament to our knowledge inside the entire Property Ownership Life Cycle. There is a HUGE benefit to having ONE Point of Contact who helps you buy your first home, guides you in the remodeling process, tailors advice to your specific needs ensuring a return on your investment, and when the time comes, listing your home back at the peak of the market. This streamlining of services SAVES YOU TENS-Of-THOUSANDS over your Property Ownership Lifetime! Home Ownership is 100% attainable! 

America's Real Estate Experts, is your local near me Chesterton, Indiana and surrounding areas, First-Time Home Buyer Real Estate Brokerage for Home Ownership. Americas Real Estate Experts understands how exciting and let us be honest, little scary to think about buying your first home. Even when you know you are ready to buy a home, you might not be sure where to begin. These tips for buying my first home will help you navigate the process from start to finish. It is in our best interest to guide to the best of our knowledge. Our goal is to be your Property Expert for life.  A job we take seriously. We hope you find this information beneficial in your information gathering journey. If you have any questions feel free to shoot us a message. Requirements to buy a house.

America's Real Estate Experts, is your local near me Michigan City, Indiana and surrounding areas, First-Time Home Buyer Real Estate Brokerage for home ownership. When calculating how much money you will need buying my first home, consider one-time expenses as well as new, recurring bills. Here are the three main upfront costs to consider when saving for a home: Down-Payment, Closing Costs, and Move-In Expenses. Being homeowners ourselves it is our responsibility to bring awareness to future cost increases. For example, your water bill could potentially double inside the first two-years of ownership. Building future cost increases into your house buying savings budget is a savvy homeownership move. Our job is to help guide you on the requirements to buy a house.

America's Real Estate Experts, is your local near me Burns Harbor, Indiana and surrounding areas, First-Time Home Buyer Real Estate Brokerage for home ownership. Your credit score will determine whether you qualify for a mortgage and affect the interest rate lenders will offer. Having a higher score will generally get you a lower interest rate, while having no to little credit might actually be a benefit to you buying my first home. Our agents have a basic understanding of the mortgage approval process and can help direct you to a mortgage specialist. Give us a call to start the process today. Without a pre-approval letter most Real Estate Brokers will not show you a home.  

America's Real Estate Experts, is your local near me Portage, Indiana and surrounding areas, First-Time Home Buyer Real Estate Brokerage for home ownership. This is a guide to help you understand the different types of Mortgages that may be available to you: Conventional Mortgages are the most common type of home loan and are not guaranteed by the government. Some conventional loans targeted at first-time buyers require as little as 3% down. FHA Loans are insured by the Federal Housing Administration and allow down payments as low as 3.5%. USDA Loans are guaranteed by the U.S. Department of Agriculture. They are for suburban and rural home buyers and usually require no down payment. VA Loans are guaranteed by the Department of Veterans Affairs. They are for current military service members and veterans and usually require no down-payment.

 America's Real Estate Experts, is your local near me Wheeler, Indiana and surrounding areas, First-Time Home Buyer Real Estate Brokerage. This link will direct you to the State Indiana Most Current, Indiana First-Time Home Buyer  Home Ownership Programs. https://www.in.gov/ihcda/homebuyers/programs/

America's Real Estate Experts, is your local near me Valparaiso, Indiana and surrounding areas, First-Time Home Buyer Real Estate Brokerage for home ownership. Requirements to buy a house? Before you are approved for a mortgage, your lender will ask you for financial records to verify your income, assets and debt, including: Proof of income and employment, such as tax returns, W-2s and 1099s.

Statements for bank, retirement and brokerage accounts. Records of debt payments, such as student loans, auto loans or any real estate debt. Documentation of other events that impact your finances, such as divorce, bankruptcy or foreclosure.

Pull these documents ahead of time to stay organized throughout the process. you will need them for the mortgage preapproval as well as when you apply for the loan. Let the Experts guide you. 

America's Real Estate Experts, is your local near me Beverly Shores, Indiana and surrounding areas, First-Time Home Buyer Real Estate Brokerage for home ownership. A mortgage pre-approval is a lender's offer to loan you a certain amount under specific terms. Having a pre-approval letter shows home sellers and real estate agents that you're a serious buyer and can give you an edge over home shoppers who have not taken this step yet. Apply for pre-approval when you're ready to start home shopping. A lender will pull your credit and review the documents you organized in the previous step. Applying for pre-approval from more than one lender to shop rates shouldn't hurt your credit score as long as you apply for them within a limited time frame, such as 30 days. With the laws changing in August 2024, most Real Estate Brokers will not show a home with out a pre-approval letter. Tips for buying my first home. 

America's Real Estate Experts, is your local near me Porter, Indiana and surrounding areas, Buying my first home Real Estate Brokerage for home ownership. An existing home generally costs less than buying a new construction home, but if local inventory is low and you have the means, a brand-new home offers enticing options to customize. A condominium or townhome may be more affordable than a single-family home. Maybe a multi-unit and let tenants pay your mortgage? Don't forget to budget for homeowners association fees when shopping for condos and townhomes, or houses in planned or gated communities.

A manufactured home, commonly called a mobile home, can be an affordable option if you have a tight budget. You will need to title it as real property and affix it to a permanent foundation if you want to finance it with a traditional mortgage. Fixer-Uppers, or single-family homes in need of updates or repairs, usually sell for less per square foot than move-in-ready homes. However, you may need to budget extra for repairs and remodeling. Buying a Fixer-Upper can be a great long-term investment opportunity, especially utilizing our Remodel To Sell Program.

America's Real Estate Experts, is your local near me Gary, Indiana and surrounding areas, First-Time Home Buyer Real Estate Brokerage for home ownership. Understand the costs before you buy. These requirements to buy a house. Understand the costs before you buy. Let's break down the costs of buying a home so you can feel prepared each step of the way. The down-payment is the amount you will need to pay upfront when buying a home. You may have heard you need a 20% down-payment to buy a home, but you may be able to with as little as 3% down. Explore available down payment assistance programs to see if you qualify for additional support in purchasing your home. Closing costs are fees ranging from 2% to 5% of the purchase price. Buyers pay closing costs in addition to the down payment at the time of closing. These costs vary by location, home purchase price, and loan terms. Costs can also vary by lender. When you’re ready to buy, requesting loan estimates from different lenders may help reduce your closing costs and ensure you’re getting the best terms for you. At closing, you can typically anticipate four main categories of costs:

• Lender fees: Also called origination fees, these costs may include origination and application processing fees, as well as any applicable discount points. This category may also include the appraisal fee, which your mortgage lender often requires to determine the property's fair market value.
• Settlement and title fees: These include expenses such as settlement fees, title search fees, title insurance fee, notary fee, courier fees, digital signing fees, document prep fees, and wire-transfer fee. Depending on your state, an attorney fee may also be included.
• Third-party fees: These fees may include homeowners insurance (prepaids and initial escrow payment), inspection fees, and real estate broker commission.
• Taxes and government fees: These may include property taxes (prepaids and initial escrow payment) and recording fees. Depending on your state, you may also see large costs for tax stamps or transfer tax fees.

Earnest money deposit is a 

Buyers way to demonstrate their commitment to purchasing a home by submitting an earnest money deposit. This money is held temporarily in an escrow account along with their offer.

Earnest money deposits range from 1% to 3% of the home's purchase price. At closing, these funds are typically applied toward either the closing costs or the down payment. It's important to note that if you decide not to buy the home, the terms outlined in your sales contract will determine whether you get back the deposit or not. Private mortgage insurance takes place when a homebuyer puts down less than 20% for a conventional loan, the lender may request they pay private mortgage insurance (PMI). PMI protects the lender if the buyer stops making loan payments. The expense for PMI can be paid either monthly or upfront at closing. Generally, you can request to have PMI removed from your monthly payments once you have reached 20% equity in your home; that is, once your loan balance reaches 80% of the home's purchase price.

America's Real Estate Experts, is your local near me Crown Point, Indiana and surrounding areas, First-Time Home Buyer Real Estate Brokerage for home ownership. Online 3D Home Tours have become more popular as technology improves. They don't supply all the information in-person visits do, like how the carpets smell, but they can help you narrow the list of properties to visit.

It is possible to buy a house sight unseen, but it’s always best to visit in person. Open your senses when walking through a  home. Listen for noise, pay attention to any odors and look at the overall condition of the home inside and out. Ask about the type and age of the electrical and plumbing systems and the roof. Ask for you agent to provide you the Sellers Disclosure Sheet.  It is important to know the facts about the NAR LAWSUIT Settlement Changes. You can learn more about your buyers rights here:  https://www.nar.realtor/the-facts

America's Real Estate Experts, is your local near me Northern, Indiana and surrounding areas, First-Time Home Buyer Real Estate Brokerage for home ownership. When you put in an offer on a house, you may think you’re set to move in. However, a professional home inspection can reassure home buyers they’ve made the right decision by showing them potential problems before closing. Before a home inspection, it’s important to get all your questions answered to better understand the process, cost and more. Then, use this checklist of areas covered in a home inspection so you can best prepare for the home buying process ahead. What is a home inspection? A home inspection is a noninvasive, visual examination of a home’s physical structure and systems. If an inspection unearths problems, you can negotiate with the seller to lower the home’s price or arrange for repairs before closing. You may even decide to back out of the home sale if it has a significant problem and you can’t negotiate a lower purchase price or reach an agreement with the seller. A home inspection usually takes place right after a seller accepts an offer from a buyer. After both parties sign the purchase agreement, the home goes into escrow. The home inspection typically happens before or during the same time as the home appraisal. 

America's Real Estate Experts, is your local near me Schererville, Indiana and surrounding areas, First-Time Home Buyer Real Estate Brokerage for home ownership. How do you make an offer on a house? Once you have locked down your approval letter, hired a reliable real estate agent from Americas Real Estate Experts, and found your dream home, the next item to focus on is the actual process of making an offer. Before you approach the seller, you’ll need to decide how much to offer, what contingencies you want and how much earnest money you’ll deposit. You will make your offer via an agreement from the Northwest Indiana Realtors Association utilizing Zip Forms Software. Once the seller has  received your offer, they can accept it, reject it or request changes. If they make a counter offer your agent will act as a liaison during negotiations. You can usually expect to hear back from the seller’s real estate agent within 1 to 3 days following your offer. The listing agent’s response time may vary depending on whether the home has multiple offers or other circumstances specific to the seller’s situation. Let us Help You.

America's Real Estate Experts, is your local near me Dyer, Indiana and surrounding areas, First-Time Home Buyer Real Estate Brokerage for home ownership. The real estate appraisal process involves a certified appraiser evaluating a property to determine its value. The process typically includes:  Scheduling a visit --The appraiser will schedule a time to visit the property.  Inspection -- The appraiser will inspect the property's interior and exterior, taking photos and measurements. Research -- The appraiser will research comparable homes in the area, known as "comps", and review public records. Report -- The appraiser will prepare a report with their valuation of the property. The report is usually the Uniform Residential Appraisal Report. Delivery -- The appraiser will deliver the report to the lender and the buyer. The buyer is entitled to a free copy of the report before closing. The entire process can take a few days to a week, depending on the complexity of the appraisal and the appraiser's schedule. The cost of an appraisal is usually between $350 and $550, but can vary by lender and the type of loan.

America's Real Estate Experts, is your local near me St. John, Indiana and surrounding areas, First-Time Home Buyer Real Estate Brokerage for home ownership. Requirements to buy a house. During the mortgage approval process, your loan officer will let you know when to buy homeowners insurance. However, you can start shopping for a policy as soon as you've solidified your new address. Shopping for homeowners insurance early gives you more time to select the right policy and look into ways you can save. Most first-time home buyers have their home insurance in escrow. Escrow accounts hold the funds designated for your home insurance and property taxes. Each month, you pay a specific amount (typically, a few hundred dollars) above your normal mortgage payment. Your lender/mortgage servicer keeps these extra funds in an escrow account. When your home insurance and property taxes are due, the lender pays these fees on your behalf from the escrow account. Escrow accounts are recommended to ensure you stay up to date with your home insurance and property taxes. Always pay attention to any potential homeowners insurance or property tax increases. Any increases will cause your mortgage payment to go up. 

America's Real Estate Experts, is your local near me Munster, Indiana and surrounding areas, Buying my First Home Real Estate Brokerage for home ownership On closing day for buying a house, you can expect the following: Property transfer -- The property's ownership and title are transferred to you from the seller. Deed -- A legal document, the deed, is recorded to confirm the transfer of ownership.  Closing costs -- Both buyers and sellers pay closing costs, which are usually outlined in a closing disclosure. A lender or attorney will provide the exact amount.  Paperwork -- You and the seller will sign a stack of documents prepared by the escrow company, closing agent, or real estate attorney. Funds -- You will hand over your down payment and all other fees and costs. The mortgage lender will provide the funds you are borrowing.

America's Real Estate Experts, is your local near me Munster, Indiana and surrounding areas, First-Time Home Buyer Real Estate Brokerage for home ownership. Moving Day has arrived and it can be stressful. At America's Real Estate Experts our goal is to reduce your stress and anxiety by offering our 14ft Box Truck FREE. Ask your Agent for more details. In the meantime  here are some helpful moving hints. Contact your utility providers to schedule the shutdown of service and be sure to give them your new address so they can send any remaining bills after you move. This is also a good time to see what services you will need at your new place, in case you’re able to schedule those in advance. For most homes, these are the service providers you’ll need to contact: water and sewage treatment, internet and cable services, electricity, natural gas/propane, trash and recycling pickup, gardeners, or landscapers. Taking possession of your new is negotiable and can take place the day of closing or a mutually agreed upon future date. 

America's Real Estate Experts, is your local near me Lowell, Indiana and surrounding areas, First-Time Home Buyer Real Estate Brokerage for home ownership. There is a lot that goes into buying my first home. Let us help you. We understand every facet of this industry from Buying/Selling, Remodeling, Lending, and everything it takes in-between. We love this and believe our passion and knowledge will lead to a pleasurable home buying experience for you.