Compare Listings

Top 6 Frequently Asked Palmetto Home Buyer Questions

Top 6 Frequently Asked Palmetto Home Buyer Questions

Frequently Asked Palmetto Home Buyer Questions Like careful consumers who are investigating any major purchase, Palmetto home buyers need to address some of the same basic queries. Among home buyers, those who already own Palmetto homes may think they have different questions than do first-timers, but even for those who have successfully navigated the process before, if it’s been a while since then, some basics may need refreshing:

1. Should I buy or rent? This is quite rightly the lead question any Palmetto home buyer needs to answer. It’s not one that many Palmetto residents who are already home owners spend a lot of time on since the answer for their own family has already been a “yes.” For them, unless some major changes have come to pass, they can safely assume that homeownership is still a no-brainer.

2. How do I get started? There are two good answers here: Get a mortgage pre-approval, and/or tap the services of a great Palmetto Realtor®. Although a lender’s pre-approval isn’t a requirement, getting a green light in advance can’t help but create a positive atmosphere with sellers and their representatives. It demonstrates serious intent—and in a competitive situation could even wind up winning the day.

3. What’s the right credit score to buy a house? 620-650. Okay, okay—I know there’s actually no number that’s truly the “right” credit score for all circumstances. It depends on so many possible outside factors that the exceptions are too numerous to list. That 620 number (and higher) does seem to be one that lenders like to see; with 580 the common minimum low down payment FHA qualifier…but that can even be less in order to qualify for the FHA 10% down payment program. The only bullet-proof answer for the “right” credit score is—the best one you can build!

4. How much will the down payment be? This one depends on the Palmetto property you choose, the home loan you select—and also, to a degree, on how much you want to pay. It used to be common sense that you should pay as much as you can afford in order to minimize the amount of interest you wind up paying over the life of the home loan. But with interest rates as low as they are today, some financial gurus are less confident about that advice: there may be more lucrative ways cash can be put to work.

5. How much do I have to pay my agent? Nothing. The buyer’s agent fee is paid by the seller.

6. Should I use a real estate broker?  This answer comes from the HUD.gov website: “Using a real estate broker is a very good idea.” As HUD says, “the details involved in home buying, particularly the financial ones, can be mind-boggling.”

Needless to say, that last Top Home Buyer FAQ is a personal favorite. It’s really just another way of saying, “contact me!”

img

linda reynolds

broker of reynolds realty gulf coast, inc. she approaches each listing or purchase as if it were her own home. using a consultant approach to guide and teach each customer the ins and outs of their transaction. never pushy, always helpful and there to walk you through each step of the way. very resourceful and very experienced in foreclosures, short sales and of course regular sales.

Related posts

Should I Buy a Home Right Now?

Thinking of buying a home? Doing it now instead of waiting could save you thousands of...

Continue reading
by linda reynolds

5 Reasons to Sell Your House This Spring

Every year, homeowners decide to wait to list their homes. Here are 5 powerful reasons why...

Continue reading
by linda reynolds

Would an Economic Slowdown Affect Home Values

Don't let fear of an economic slowdown prevent you from buying or selling a home! Let's get...

Continue reading
by linda reynolds

Join The Discussion

This site uses Akismet to reduce spam. Learn how your comment data is processed.

[fl_builder_insert_layout slug="footer"]