Hi Ladies,
I've been renting a townhouse for about a year and a half. I'm looking for information on how to go about buying a house. I know it's a buyers market right now, and I want to look into buying a home. I am unfamiliar with the whole process and I was hoping someone could tell me what steps I need to take to get the process started, and what to look out for or avoid.
I recommend my friend Irene Jacobson. She's a realtor with Keller Williams, but more than that she's highly ethical and loves helping people. I know she would be happy to help you understand the process and the pitfalls to avoid. Irene's cell # is: ###-###-#### and email: ____@____.com luck!
Hi C.,
My mother-in-law is in mortgage lending and loves working with first time home buyers. She has been instrumental in the development of many of the first time home buyer programs in San Jose and the County of Santa Clara. She helped me with my first purchase and is great at explaining how everything works (even multiple times as in my case! ;-))Her name is Marge Nogosek and her company is Cedar Mortgage located in San Jose. ###-###-####, e-mail: ____@____.com , website: www.cedarmortgage.com .
Good Luck!
Lory
Good Morning, C. ~
Congratulations on your decision to buy your first home. I am a Realtor in Santa Clara County and would be happy to meet with you at your convenience. I have a very simple step by step process that I can share with you. First of all, when you meet with a Realtor; make sure that they make you feel comfortable and confident that you can work with them. Also, when you meet with a Lender, do not sign anything that you are not sure about. Always ASK QUESTIONS. As a first time homebuyer, it can be pretty overwhelming. Congratulations, and best wishes on your purchase.
Lucy B. C.
Intero Real Estate
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Hi C.,
I am not in real estate or loan markets, but when we purchased our first home in 2002, we didn't listen to the realtor nor the loan officer on the loan we could get. I took my AFTER TAX income and decided what we could afford a month for a mortgage based on that figure. I also wanted security so we went with a 30 yr fixed (even back then I didn't want to chance the rates going up on an adjustible rate mortgage). Also, the first year is always the hardest because you don't get the benefits of the interest on your tax returns until the following year - you can get a lot back - unless you adjust your payroll deductions when you purchase your home. Also, don't forget to figure in costs like property taxes, home insurance, utilities, general maintnance, etc...
Again, I think the most important thing is to base what you can affor your net/take home pay.
Good luck!
Hi C.,
I sold real estate in San Jose for 12 years and worked almost exclusively with first time home buyers. Your first step should be a good loan agent. They can let you know what you can realistically afford and help you begin to get your duck in a row as it were.
I can highly recommend Kirsten Fordyce to you. She is the most ethical loan agent I know. I've put all of my personal mortgages through her over the years (I own several rentals and have moved several times, so it is a lot mortgages!) and recommended her to all of my clients. She's friendly, organized, and really knows her stuff! You can contact her at Kirsten Fordyce - ###-###-####
Good luck with your house hunting! Buying is a great idea . I'm always trying to get my renters to buy (always more tenants out there!). I tell them their rent is putting my kids through college instead of building equity to send their own kids! :o)
Hi C..
As a single mom of 12 and 8 year old boys, I wanted to wish you luck. I too am hoping to buy my first home and it is pretty scarey. I don't know what your financial situation is, but mine is pretty bad. I have heard that right now is a great time because you can get townhouses for as low as $125,000. in San Jose. Don't know where you are looking. I have also heard that they have some great loans out there now. The real estate agent is the place to start. They will get you in touch with a loan agent who will tell you how much you qualify for. Then you know what price range you can look for. They will also tell you all other costs you have to be prepared for (inspections, insurance, taxes, etc.) Just wanted to encourage you and wish you luck. Let us know how it goes for you, and if you learn anything interesting, please pass it on!
Hello C.,
I have been a lender for over 17 years and regularly teach a first time buyers workshop. If you would like to attend one- just let me know. There are lots of programs to help buyers. If you would like-we could set up a time to talk by phone and explore ideas.
Have a great night, ###-###-#### M.
