Helpful Infomation for 55+ Condo Buyers

We hope that our first time home buyer information and tips are helpful in making the home buying process easier. While it’s important for any buyer to work with a good, and helpful realtor, it’s even more critical for first time home buyers. Keep in mind that as realtors we do this all of the time and a good realtor will make sure not to forget that you don’t do this all of the time. Information is everything!

Your 55+ Condo Search

Where to search and how to find current listings
The home search. Choosing your home
The home search. Finding out how much you can afford
The pre-qualification process
Why it’s important to get preapproved
Why Buy a home instead of renting
How to Look for Foreclosures?
Mortgage musts
Considering a move? Steps to take
Homebuyer tips
Check Your Credit
4 tips for home buyers in a buyer’s market (older article)

Escrow

Who pays for what in escrow
What are the typical contingency periods during the escrow process?
Closing cost definitions
Home appraisals
What is title insurance
Understanding closing costs
Common ways of taking title when buying a home (i.e. joint tennants, community property)
What is the Statement of Information form from the title company?
What Happens After Funding?

Lender and Loan

Understanding the loan process
Benefits of FHA Loans
The difference between getting pre-qualified and pre-approved
Down payments
What does your mortgage pay for: PITI
The loan process
Homeowners Insurance
What happens in escrow after a loan funds?
Pre-Qualified v. Pre-Approved
Understanding the Loan Process
Benefits of Getting Prequalified
Historical Interest Rates
Credit Rules
Lender and Loan Process
What goes into your monthly mortgage payment? Understanding PITI
Loan Terms and Glossary
Types of Home Loans
Avoid Predatory Lenders – Warning Signs
What is Private Mortgage Insurance (PMI)?
Using a 401(K) to Purchase a Home
What happens after a loan funds?