First Time Buyers
Buying a home is rewarding, but the process can be challenging. A Mel Foster Co. sales expert can guide you every step of the way and help you make informed decisions. Many agents are experienced in new construction, and Mel Foster Co. is the largest land developer in the region representing over 45 subdivisions.
WHAT WILL A MEL FOSTER CO.
REALTOR® DO FOR ME?
WALK YOU THROUGH THE PRE-APPROVAL PROCESS AND HELP YOU DETERMINE HOW MUCH HOUSE YOU CAN AFFORD.
DETERMINE WITH YOU WHAT YOU NEED IN YOUR
NEW HOME VERSUS WHAT YOU WANT.
FIND AND SHOW YOU HOMES THAT MEET YOUR SEARCH CRITERIA.
HELP YOU NEGOTIATE WITH THE SELLER'S AGENT AND WRITE YOUR OFFER.
PROVIDE AN ACCURATE ESTIMATE OF YOUR EXPENSES
INCLUDING CLOSING COSTS AND INSPECTIONS.
PERFORM AS YOUR ADVOCATE TO PROTECT YOU DURING FINANCING, NEGOTIATIONS, INSPECTIONS, CONTINGENCIES AND POSSESSION.
How To Pay For A Home
A Mel Foster Co. real estate expert will show you various financing options and will include the impact of each option on the sale of your current home. Depending on the price of the home and/or the amount of your down payment, there may be several options that fit your personal situation.
VA (for military veterans only)
FHA (Federal Housing Administration)
Conventional (Fixed rate over a set number of years)
Meeting with your lender
Gather all of your paperwork and be prepared for your appointment. Collect these documents:
Tax returns from the last two years
All W-2 tax forms from the last two years
All account statements, such as
credit card, checking and saving accounts
Three most recent pay stubs
A letter of promotion notice,
if this applies to your job situation
CD's 401k, 457 and all other
retirement account statements
Identification, such as drivers license
Your lender may also ask you these questions during your meeting:
How much of your savings will go towards your down payment and closing costs, if any?
Where have you worked in the last two years?
What are your monthly long-term debt payments including student or other loans and car payments?
Do you have child care expenses or pay alimony?
Have you ever declared bankruptcy?