Afonso Real Estate



Posted by Afonso Real Estate on 1/31/2018

Filling out a mortgage application may prove to be a long, arduous process, particularly for those who are buying a house for the first time. Lucky for you, we're here to help you dot the I's and cross the T's on your mortgage application to ensure you can quickly and effortlessly acquire your dream house.

Now, let's take a look at three tips to help you prepare your mortgage application.

1. Be Diligent

A mortgage application may appear daunting at first. The application may include several pages of questions, and you may have only a limited amount of time to finalize your submission.

When it comes to completing a mortgage application, it generally pays to be diligent. If you answer each mortgage application question to the best of your ability, you likely will have no trouble moving forward with your home purchase.

2. Avoid Guessing

If you're uncertain about how to respond to certain mortgage application questions, there is no need to guess. Instead, search for the information that you need to provide a comprehensive response. This will help reduce the risk of encountering potential problems down the line that otherwise could slow down your home acquisition.

Remember, guessing on a mortgage application probably won't do you or your lender any favors. But if you allocate the necessary time and resources to understand mortgage application questions and provide thoughtful responses, you can minimize the risk of application errors.

3. Ask Questions

Completing a mortgage application sometimes can be tricky. Fortunately, a lender employs mortgage specialists who are happy to respond to your application concerns or questions at any time.

If you're unsure about information that is requested on a mortgage application, don't hesitate to reach out to a lender's mortgage specialists for help. These specialists possess extensive mortgage expertise and can help you complete a mortgage application.

Furthermore, mortgage specialists can offer insights into a wide array of mortgage options. These specialists can explain the differences between fixed- and adjustable-rate mortgages and enable you to select the right mortgage option based on your financial situation.

As you prepare to buy a house, you may want to consult with a real estate agent as well. In fact, with a real estate agent at your side, you can seamlessly navigate the homebuying process.

A real estate agent understands exactly what it takes to acquire a house, regardless of the finances at your disposal. This housing market professional can set up home showings, help you submit offers on houses and ensure you can purchase a residence that matches or exceeds your expectations. And if you need help getting a mortgage, a real estate agent may even be able to connect you with the top lenders in your city or town.

Ready to move forward in the homebuying journey? Use the aforementioned tips, and you can finalize a mortgage application and secure the financing that you need to acquire your ideal residence.




Tags: Mortgage   Buying a home  
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Posted by Afonso Real Estate on 1/24/2018

Submitting a "fair" offer on your dream home may seem difficult, particularly for a first-time homebuyer. Lucky for you, we're here to help you determine what it takes to submit a fair offer on a home that increases the likelihood that a home seller will accept your proposal without delay.

Now, let's take a look at three tips to ensure that a first-time homebuyer can submit a fair offer on a house.

1. Study the Housing Market Closely

Are you preparing to submit an offer in a buyer's market or a seller's market? Ultimately, the current state of the housing market may help you define a fair proposal based on the sector's conditions.

For example, a buyer's market frequently includes an abundance of top-notch residences and a shortage of homebuyers. In this market, you may be able to submit an offer at or below a home seller's initial asking price and receive an instant "Yes."

On the other hand, a seller's market usually features a shortage of high-quality houses and an abundances of homebuyer. As such, you may need to submit an offer at or above a home seller's initial asking price if you want to secure your dream residence.

For first-time homebuyers who analyze the housing market closely, they should be able to differentiate between a buyer's market and a seller's market. That way, a first-time homebuyer can determine fair market value for a residence and submit an offer that corresponds to it.

2. Evaluate Your Homebuying Budget

There is no need to overspend for a house, regardless of the current housing market's conditions. But with a homebuying budget in hand, a first-time homebuyer can resist the urge to pay too much to acquire an outstanding residence.

Getting pre-approved for a mortgage often provides a great option for those who are uncertain about how much they can spend on a home. This budget will enable a homebuyer to narrow his or her home search based on the finances at his or her disposal.

Meet with a variety of banks and credit unions to learn about all of your mortgage options. Then, you can select a mortgage that matches your budget and move one step closer to acquiring a terrific residence.

3. Work with a Real Estate Agent

A real estate agent is a must-have for a first-time homebuyer, and for good reason. This housing market professional can teach you about the intricacies of buying a house and help you submit a fair offer on a residence any time you choose.

Furthermore, a real estate agent will guide you along each stage of the homebuying journey and help you overcome any potential pitfalls along the way. And if you ever have homebuying concerns or questions, a real estate agent is happy to respond to them at your convenience.

Take advantage of the aforementioned tips, and by doing so, a first-time homebuyer should have no trouble submitting a fair offer on a residence.




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Posted by Afonso Real Estate on 11/8/2017

When it comes to finding a place for you and your family to live, there have never been more options available than today. Banks and property owners have made living arrangements available and accessible to people of any lifestyle; whether you plan on staying in a home for just six months, or for the rest of your life.

It isnít always easy, though, to determine which option is best for you. In this article, weíll break down the financial and lifestyle characteristics of the four most common living situations: condominiums, townhouses, apartments, or owning your own home.

Condo living

Condominiums are a type of community living. But, theyíre more than just an apartment that you own. Most condos are attached; meaning theyíre not separated by yards and driveways. Some, however, are detached. One thing that is true for all condos, however, are the common areas throughout the development. This can include things like a park, yards, gyms, pools, or lounges and cafes. The best part about those amenities? You donít have to worry about their upkeep.

So, since you own the condo, who pays for the common areas? Odds are, youíll be paying a monthly fee or a homeowners association fee to upkeep the amenities your condo came with. Expect higher fees for better amenities and prime real estate location.

What about maintenance? Since you own the condo, youíre responsible for much of the interior maintenance, such as appliances. However, outdoor issues like roofing or siding are usually the responsibility of the homeowners association or property manager.

Condos are ideal for people who are somewhat committed to an area, and who want independence over their home without having to take care of all the landscaping.

Townhouses

Townhouses are in many ways the opposite of condos. They are often rented but they look like single family homes, complete with a driveway and front yard. There are also typically homeowners association fees for townhouses, but they can be significantly less since there are fewer amenities in a townhouse living environment.

Depending on your long-term plans, you can either rent or buy townhouses. Renting is usually a better choice for inhabitants who donít plan on staying in the residence for more than a couple of years.

Homeownership

If what you truly seek in a home is independence and privacy then traditional homeownership might be the best option for you. If you own a home outright and donít have to answer to a homeowners association, you get to choose what you do with your yard. There are of course, some limits to this, like getting additions approved by zoning boards, or trampolines signed off by your insurance company.

Financially, homes can be a good asset. They typically increase in value and allow you to build equity. You might also find them more financially dependable; rents can increase year after year, but your monthly mortgage payments typically wonít unless you choose to refinance.

Ultimately, buying a home is going to benefit you more the longer you stay there. So, if you plan on moving for work in the next few years, you might be better off renting.





Posted by Afonso Real Estate on 11/1/2017

As you prepare to embark on the homebuying process, you may encounter a variety of homebuying myths. And if you believe these myths, the risk increases that you may be forced to deal with many problems along the homebuying journey.

Now, let's take a look at three common homebuying myths, along with the problems associated with these myths.

1. Buying a house is a quick, stress-free process.

The homebuying process may prove to be long and arduous, particularly for a first-time homebuyer. Fortunately, real estate agents are available to help you simplify the process of acquiring a top-notch residence at a budget-friendly price.

A real estate agent understands the challenges associated with buying a house. As such, he or she can help you identify and address these problems before they escalate.

Typically, a real estate agent will learn about what you want to find in your dream house and help you plan accordingly. With this approach, a real estate agent will ensure that you can enjoy a fast, worry-free homebuying experience.

2. Getting a mortgage won't take long at all.

There are many factors that will dictate your ability to acquire a mortgage that matches or exceeds your expectations. For instance, your credit score, income and outstanding debt will impact a lender's decision to provide you with a mortgage. And if you have experienced financial problems in the past, they may impact your ability to acquire a mortgage today.

It generally helps to get pre-approved for a mortgage before you enter the housing market. Because if you have a mortgage in hand, you can narrow your house search.

Also, it may be beneficial to shop around for a mortgage from several banks and credit unions. If you explore all of the mortgage options at your disposal, you can select a mortgage that suits your finances perfectly.

3. The first home that you see in-person likely will be the house that you'll end up purchasing.

The homebuying process offers no guarantees. And if you expect to buy the first home that you view in-person, you ultimately may be disappointed with the final results of your home search.

Oftentimes, it is a great idea to check out a wide range of houses. By conducting an in-depth home search, you can select a house that fulfills all of your homebuying demands.

As you search for a home, you may want to work with a real estate agent too. This housing market professional can set up home showings and keep you up to date about open house events.

Furthermore, a real estate agent is happy to provide homebuying recommendations and suggestions. He or she will do whatever it takes to help you find a terrific residence, as well as negotiate with a seller's agent on your behalf to ensure you won't have to pay too much to acquire your ideal house.

The aforementioned myths can be harmful to any homebuyer, at any time. If you hire a real estate agent, however, you can learn the ins and outs of the housing market and avoid potential hurdles throughout the homebuying journey.




Categories: Uncategorized  


Posted by Afonso Real Estate on 3/8/2017

If relocation and house hunting is in the foreseeable future for you and your family, making a list of requirements and preferences will help ensure that you're satisfied with your next home.

Checklists are available from a variety of sources, including real estate agents and The U.S. Department of Housing and Urban Development.

While it's nearly impossible to find an affordable property that's a short drive from everywhere and that meets all your requirements, creating a prioritized list will help you clarify your goals and help you get the real estate features that are the most important to you and your family. Having a well organized list of priorities will also make it easier and more practical for your real estate agent to locate properties for sale that are aligned with your needs and preferences.

While the ideal home should be comfortably close to jobs, schools, childcare, and supermarkets, there are other conveniences and necessities that are sometimes overlooked by home buyers. Here are a few additional items to consider:

  • Medical and dental offices: Although it's difficult find the ideal house that also happens to be located just a short drive from all your family's medical and dental care providers, it's a goal worth considering when evaluating different properties. Being close to a preferred hospital can also be a desirable feature -- especially if you expect to be looking for top-quality maternity care in the near future.
  • Houses of worship: If you and your family attend religious services several times a month, it would definitely make life easier to live a short distance from your favorite church, synagogue, or mosque.
  • Automotive services: When you need an oil change, state inspection, AC maintenance, or car repair, it's much more convenient to have it taken care of close to home.
  • Transportation: Whether this item ranks high or low on your priority list depends on how often you plan on traveling for work, business, vacations, college, or family visits. For some people, proximity to airports, train stations, bus depots, and major highways can be a major benefit.
  • Recreational facilities: For families with active lifestyles, being close to tennis courts, golf courses, fitness clubs, playgrounds, walking trails, and other recreation facilities would be considered a big "plus". For others... not so much.
  • Entertainment: Again, it depends on individual lifestyles, but some people enjoy going to the movies, restaurants, concerts, and the theater on a regular basis.
The value of creating a list of requirements and a "wish list" boils down to clarifying in your own mind the conveniences, services, and facilities that are most important to you and your family. It's also a more efficient method of communicating your hopes and needs to your real estate agent. His or her objective is to help you find the residential property in your target area that best satisfies the majority of your goals, desires, and dreams.







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