Our Team Can Help You With Any Home From Any Website
When starting your home search its always best to get in touch with a local real estate agent you can trust and provide you with valuable information about the local Acadiana area housing market. Let our team guide you with the home buying process, we can help you with any home from any website.
If you are driving down the road and notice a for-sale sign in the front yard, even though it is not my sign or my brokerage's listing, we can help you with that home too, all we need is the address. Same for a home that is for sale by owner in Acadiana, we will get in touch with the owner for you set up the appt to view. How about you see a friend post on social media or Facebook page or maybe on the Facebook Group Coming Soon Just Listed in Acadiana, simply text me the address of the home and our team will find out all of the details for you, if it flooded, if the home is in a flood zone and if there are any known issues with the home.
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How often does a buyer go through the home-buying process? Maybe two or three times in a lifetime. How many times does a good agent go through the process? Twenty or 30 times a year. Why would anyone buy a home without an agent?
Many people dream of owning their own home. However, it can easily turn into a nightmare if a first-time buyer/couple is not prepared. There’s a steep learning curve in terms of everything that needs to be done and what paperwork will be required. Getting the right mortgage will also be one of the most important financial decisions you will ever make in your life.
Start from Where You Are
Unless you have enough cash in hand to pay for the home of your dreams, chances are you are going to have to come up with a down payment for the house you want, and also take out a mortgage for a certain length of time - which will be a financial commitment to pay off the house each month. In doing so, you will not be paying rent, but rather, building up equity or a stake in the house, until you’ve finally paid off the mortgage, taxes, and so on and the house is completely yours.
Your first step is to determine how much cash you have on hand for a down payment. The more you have for a down payment, the better terms you can get for your mortgage. But let’s not be too hasty. There are a lot of other financial concerns you might not be aware of.
Any mortgage lender will want to see 3 to 6 months’ worth of paystubs and bank account statements. This will help show whether or not you will really be able to afford the mortgage payments.
Check Your Credit Score
The higher your credit score, the better the terms will be for your mortgage. Some lenders stipulate a minimum before they will consider approving a mortgage.
If you are thinking of buying a house, pare down any unnecessary expenses for several months. Don’t start buying a lot of things for your new home and then discover cash is very tight.
Armed with your personal paperwork, you can shop around for mortgages and get pre-approval. This will be a rough estimate of the top limit you will be allowed to borrow. Then it will be a case of finding the right home within your price range.
The Mortgage Payment Is Often More Than Just the Bank Loan
Be clear about everything you need to pay in total before committing to anything. Many lenders include other items as part of the monthly payment, including:
* Mortgage insurance (in case you can’t make payments)
* Home insurance (fire, damage, and theft insurance policies)
* Taxes on the property
Other Paperwork and Home Purchase Fees
Beware of Predatory Lending Practices
Some people actually sign a loan agreement in order to get the down payment for the house - the equivalent of two mortgages on the same property. Others don’t ever see the entire "bottom line" of what it will cost per month until it is almost too late. They are congratulating themselves on the great "bargain" until they see the grand total of all taxes, insurance, and so on.
A couple might think a $2,000 per month mortgage sounds great when they are already paying $1,800 in rent each month, but if the payment shoots up to $2,600, and they are only taking home $2,500, things are simply never going to work out. Find a trusted local loan officer to guide you through the process, we work with top loan officers around Acadiana.
Home buying expenses in Acadiana
Deposit $500 - this is due as soon as we go under contract. (amount can change depending on the price of the home)
Inspection approx. $400 - due after inspection
Appraisal $400 - $550 - due before Appraisal or will be part of closing cost. (Depending on the lender) make sure you ask the lender
Closing cost approximately $5500. The lender will let you know.
Down Payment - Depending on what type of loan. (0 down, 3%, or 3.5%)
Never trust wiring instructions sent via email. Cybercriminals are hacking email real estate accounts and sending emails with fake wiring instructions. These emails are convincing and sophisticated. Always independently confirm wiring instructions in person or via a telephone call to a trusted and verified phone number. Never wire money without double-checking that the wiring instructions are correct.
- Kiersten Mitchell
- Carrol Crow
- Ryan W.
- Jeremy Burleigh
- First-Time Buyer
- Tavorus Robinson
- Jesse Saloom
- Jordan Henry
- Keyaunana Carpenter
- Paul & Mimi Bellow
- Jennifer Mire
- Paul B.
- Jesse Saloom
- Jonnie Thompson
- Hollier Farms
- Diane Crow
- Casey Soileau
- Casey Soileau
- Joshua Mckinsey
- Corey Simon
- Alicia M.
- Kiersten Mitchelle
- Hollier Farms
- Matt Ackman
- Jacob Duhon
- Jordan H.