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Phone: 301-704-6964

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HOME BUYERS' LIBRARY

lenn harley
Lenn Harley, BrokerHomefinders.com
Maryland and Virginia

Phone: 301-704-6964

FIRST TIME HOME BUYERS HELP in MARYLAND AND NORTHERN VIRGINIA

Maryland and Virginia offer good opportunities for first time home buyers. Lenders are familiar with programs that limit the cash needs for buyers which is often helpful for first time buyers although not all first time home buyer programs are available in all counties. You'll need a good experienced buyer's agent to help you. Let's get started by going through some of the steps to home ownership. 

HOME BUYING STEPS
First thing we like to do is to take a tour of homes. Homefinders.com compute your approximate price range.  We know that a lot of real estate agents will want to sit at a desk and talk, talk, talk. We'd rather show you a home or two to get acquainted and get your reaction to what you see. We can get to know each other and you can see what your money will buy. In fact, you can select the home to see from the many homes listed for sale in Homesdatabase.com.

GETTING PRE-QUALIFIED
Our agents are fully qualified and capable of pre-qualifying a buyer. If you have already met with a lender and feel comfortable with that lender, wonderful.  If you prefer, Homefinders.com will refer you to an experienced loan officer with a mortgage company who offers the type of loan that you need. 

CREDIT??
If you have had credit problems in the past, you will want a lender to review your credit report and determine if you should be looking for a home now or do some credit repair first. We'll help you get the information you need. We work with many lenders and may have some solutions. Often a bit of work on a credit report will make you credit worthy in six to twelve months and then you can get a good rate and save a lot of money.  Often a credit report can be improved relatively fast.  The better your credit report, the better rate, terms and conditions you'll be offered by mortgage companies.

LENDER'S LETTER
Once you have determined the area, price range and type of real estate you wish to buy, you will need to be prepared with a lender's pre-qualifying letter which means that a lender has reviewed your credit, income and money to close and you are READY to buy. This letter accompanies the offer to buy a home. Sellers cannot consider your offer seriously unless you have been credit reviewed by a lender. If you do not already have a lender, we can obtain this letter for you in a very short period of time, but not usually on weekends. If you're ready to buy, you need to get prepared. We'll help.

LET'S LOOK AT SOME HOMES - SEARCH THE LISTINGS
We provide our buyers with access to the real estate Multiple List database MRIS to keep you up to date on new listings. You can see photos, descriptions, prices, features of homes that meet your search criteria. Folks love this program since it permits buyers to select the homes to visit. This database is very helpful for buyers who are relocating by helping buyers understand what your money will buy in different communities of Maryland or Virginia. Homesdatabase.com/lennharley is a LIVE database and you will see the identical status we see. This database does not contain sold listings as do many of the national databases found on the Internet.  Homesdatabase is a link to the Multiple List System for Maryland and contains ALL homes listed for sale with Realtors.

welcome

LEAVE THE DRIVING TO US
We'll provide the gasoline to visit the homes that meet your search criteria. HOMEFINDERS agents are full time REALTORS ® who will show you homes at your convenience. We recommend looking at real estate during daylight hours. Our agents are available to show homes seven days a week. If you are a relocating buyer, we'll clear our schedule for your buying trip and spend the days with you to make sure you see as much real estate during your trip as possible.

FIRST TIME HOME BUYERS WILL have a lot of questions and you can be comfortable with our agents who are accessible and helpful. We'll give you information on homes that have sold in the area in which you are interested so you can understand pricing.

YOU'VE GOT THE CONTRACT
Let's get busy. If there is to be a home inspection or other inspections, it must be done quickly. You may receive a recommendation for a home inspector. Perhaps someone at your work place has used one that they recommend. If you do not have a preference, we'll recommend inspectors that we have used in the past. Any defects found in the home will be written for the seller to repair prior to settlement. These items are negotiable and if there is a serious defect in the house, you can declare the contract null and void. YOU DO NOT HAVE TO BUY A HOME WITH SERIOUS DEFECTS.  Many homes are sold "as is" meaning that the seller will permit a home inspection, but will make no repairs.  If there are defects and the seller doesn't make repairs, you can void the contract. 

MAKE LOAN APPLICATION
Time for you to make a loan application so the lender can get busy and provide you with a full loan approval ASAP. Be prepared with the below documents to expedite your loan process.

  • Copy of Contract of Sale
  • 2 years W-2 Forms
  • 2 months bank statements
  • 3 months earnings statements
  • Landlord name, address and phone
  • VA Certificate of Eligibility for VA buyers
  • Drivers License

RELAX AND WAIT FOR SETTLEMENT
Sounds easy??  It really is.  We'll be there to help every step of the way.

settlement

Copyright 2002 Lenn Harley