Did You Know?

FHA loans are one of the best options for young, first-time home buyers who have not had as much time to save for a large down payment or establish a high credit score.

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Are You Ready To Make An Offer To Buy A Home?


Are You Ready To Make An Offer To Buy A Home?
Buying a home with an FHA mortgage is a major life decision, and preparation is essential before you start house hunting or consider making an offer on a property.

How to get started? In the early stages, establishing your budget and how much work you need to do on your credit is key. But once you have gotten past the initial phase of that planning you’ll want to consider the house itself and what you want from it.

You can get started by writing down your dream home’s must-have features. What size house do you want? How many bedrooms? 

Do you need to be near schools, childcare, or major interstates? Separate your non-negotiables from what you feel more comfortable negotiating or haggling over.

Research the market you want to buy in. Consider analyzing recent residential real estate sales of similar properties in the area to determine a reasonable value for the home you're interested in. Online resources like Zillow and Realtor.com can be helpful.

Key Factors Before You Make An Offer To Buy With An FHA Mortgage

Ask yourself the following questions before you approach a home seller.

Is the home I want within my price range, and how much more or less is the sale price than the pre-approval amount?

What’s the first impression of the condition of the property? Does it look like it needs work, or is it pristine and in excellent condition?

If you haven’t decided on a specific property type, do the homes you have seen to date lack something important? For many borrowers, issues that seem minor early on become major headaches later, depending on the problems.

Your First Offer

It’s easy at first to consider your offer to the seller as your “best offer,” but real estate negotiations aren’t always that simple. Consider your initial offer as an opening statement. 

That may lead to negotiation with the seller, but doing so is worth the hassle. According to many sources, “Flexibility is key.” Buyers go into the process willing to compromise on some parts of the home-buying process to make the sale more attractive to the seller.

Know your limits and be prepared to walk away if the deal starts to become unreasonable. That said, know WHEN and HOW you are legally permitted to walk away before you make any offer.
See Your Credit Scores From All 3 Bureaus
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FHA Loan Articles

Ready To Apply for an FHA Loan?

Before you get ready to commit to a home loan application, it’s good to review your circumstances and ask a few basic questions about your loan, your plans, and the home itself. Believe it or not, knowing what type of home loan you need is an important step.

Fixing Your Credit Score

When getting ready to shop for a home loan, it's worth taking a look at your credit report. Your credit score is a big factor when lenders take a look at your loan application, and it plays a huge role in the interest rate you get. 

What to Know About Down Payments

When it comes to buying a house, saving up for a down payment can be one of the most overwhelming aspects. While down payments are one of the biggest obstacles for many in the mortgage process, it helps to understand the ins and outs of why they play such a big role.

Let's Compare FHA Loans to VA, USDA, and Conventional Mortgages

Buying and financing a home is complicated and can become overwhelming. It's important for you to stay informed, and know what your options are. So, start with the basics and read about the four different mortgage types available before approaching a lender.

FHA Programs for Fixer-Upper Homes

The fact is that repairs and renovations to your home cost a lot of money. Luckily, the FHA has an option for those with fixer-uppers on their hands. The FHA 203(k) Rehabilitation Mortgages allows borrowers to finance the funds for renovations to a home.

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