Admin

Spam prevention
Rainmaker
2,230,207
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Talk to a lender to find out their buying power.

Jul 03, 2017 08:51 AM
Rainmaker
1,153,799
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

My #1 suggestion is to work on their "dream" credit before doing anything else. After that get on a strict budget where you can save, save & save more.

Jul 03, 2017 08:49 AM
Rainmaker
1,713,581
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

 A great loan officer is your best friend.

Jul 03, 2017 11:32 AM
Rainmaker
1,101,539
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

When you have 25% in cash (20% for a DP/equity and another 5% reserves), THEN buy a home whose monthly payment will not exceed your weekly net income.

Ability to buy a home and the wisdom to own a home are not interconnected.

Jul 03, 2017 09:24 AM
Rainmaker
1,870,653
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Start investigating & they'll find out it's easier than they thought. It's always cheaper than rent at least in my Chicago Metro area so go for it.

Jul 03, 2017 12:26 PM
Rainmaker
544,114
Dave Halpern
Dave Halpern Real Estate Agent, Inc., Louisville, KY (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Get the best Realtor they can find. Give them the criteria of an excellent Realtor so they can evaluate the best suited Realtor for their purpose.

Jul 03, 2017 11:55 AM
Rainmaker
5,487,198
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

A good discussion with a competent mortgage loan officer who can discuss the alternatives.

Jul 03, 2017 09:28 AM
Rainmaker
5,774,100
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

I agree with Kevin J. May   A

Jul 03, 2017 09:00 AM
Rainmaker
760,861
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

The first time home buyer needs to be prequalified in order to determine what he/she can afford.  It is a waste of everyone's time to show them property that they don't qualify to purchase.

Jul 03, 2017 02:21 PM
Ambassador
3,430,917
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Get preapproval and do not purchase at the upper end of their limit. 

Jul 03, 2017 01:00 PM
Rainmaker
1,752,137
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Look at the average home ownership term for the area and then review the property tax and insurance rate inflation for the same area. Do not purchase unless the future term of ownership is still affordable at curent income levels.

Jul 03, 2017 10:25 AM
Ambassador
6,691,416
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Dont shoot for your "Dream Home", buy something that you can Easily afford.

 

Jul 03, 2017 03:27 PM
Rainer
509,499
Susie Kay
Ultra Real Estate Dallas Fort Worth - Plano, TX
North Dallas Specialist

I would connect them with lenders that I typically work with. These are lenders that I know are good and will help them.

Jul 03, 2017 02:21 PM
Rainmaker
3,986,473
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

My advice is to spend less than the gank says you can...you may have a chance then

Jul 03, 2017 12:05 PM
Rainmaker
5,584,639
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

find guidance from a mortgage officer who knows what he/she is doing.....and tie in with a buyer's agent who is well-versed with buyer agency....

Jul 03, 2017 10:33 AM
Rainer
86,514
Mike Kelly,CRS,CIPS
The MJKelly Team - Santa Rosa, CA
"One of Sonoma County's Natural Resources"

My advice to every first timer is get into the market. Don't expect your dream home. Compromise on some items you can add to the house at a later time. Stick to your Credit Approved" loan and price and don't look above that! My Mom used to say, 'your eyes are bigger than your stomach!" Buyers need to take this to heart. But become "Credit Approved" which means the ONLY items remaining is an appraisal, clear title and the contract. I've been going in with NO loan contingency as my lender is super strong and when he says they are fully "Credit Approved" he means it!

Jul 03, 2017 10:23 AM
Rainmaker
922,444
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Rent first.

Jul 03, 2017 10:21 AM
Rainmaker
5,315,986
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Real Estate Broker

Too generic a question. Send them to a good lender and find out what they can qualify for.

Jul 03, 2017 10:03 AM
Rainmaker
2,849,653
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

An eye to eye with the subject source is not only free but necessary to begin

Jul 03, 2017 09:52 AM
Rainmaker
8,155,063
Roy Kelley
Retired - Gaithersburg, MD

Get preapproved by a trusted local mortgage loan officer and buy now before interest rates go any higher.

Jul 03, 2017 09:11 AM
Rainmaker
1,262,652
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Talk to a loan officer get qualified before you start looking....

Eligibility does not mean you are qualified to be a home owner.

Jul 03, 2017 09:03 AM
Rainmaker
6,008,006
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Be sure they have reviewed their budget, and KNOW they can pay the mortgage.

Jul 06, 2017 11:32 AM
Rainmaker
5,204,377
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Best investment you can make,  Look at the history of homes prices.

 

Jul 05, 2017 05:01 PM
Rainer
424,263
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Fix your credit for three months, stop buying junk on credit, and save

Jul 05, 2017 02:53 PM
Rainmaker
1,539,044
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Anthony Acosta - ALLATLANTACONDOS.COM nailed this one!

Jul 04, 2017 10:40 PM
Rainmaker
655,078
Jason E. Gordon
CMG Mortgage, San Diego, CA - Coronado, CA
Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE

Great question...one that I wish that all Agents would embrace. My professional opinion is to follow the steps & advice in the following blog on AR:

http://activerain.com/blogsview/4899160/pre-qualification-vs-pre-approval-vs-cross-approval-vs--10k-assurance

Jul 04, 2017 01:45 PM
Rainmaker
1,466,257
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Mike Albert Get an approval letter to see what you can afford.

Jul 04, 2017 09:21 AM
Rainmaker
809,308
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

Talk to a goood and trusted lender. -Kasey

Dave Ramsey days 20% down and 15 year fixed.

Jul 04, 2017 08:44 AM
Rainmaker
602,025
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

Buy within your means. In other words, don't borrow $300,000 just because the bank is willing to lend you that much.

Jul 04, 2017 08:10 AM
Rainmaker
3,074,389
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Coldwell Banker Realty

Joe Pryor nailed this one!

Jul 04, 2017 06:44 AM
Rainmaker
1,231,853
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Good question Mike Albert and lots of good answers.  Enjoy July 4th holiday.

Jul 04, 2017 06:19 AM
Rainmaker
4,434,227
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Get prequalified.

Jul 04, 2017 03:57 AM
Rainmaker
4,322,035
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

Mike Albert - I share the KCM chart with them most of the time they realize that homes are going to be getting less affordable as time passes.

Jul 03, 2017 10:34 PM
Rainer
183,015
Harjeet Bhatti
FITH THIRD BANK - Chicago, IL
Home Mortgage Consultant 25 States

Start with rent and own comparison. 

Jul 03, 2017 09:40 PM
Rainmaker
1,620,111
Thomas J. Nelson, REALTOR ® CRS,ABR,PSA,RCS-D, ePRO
Big Block Realty 858.232.8722 - La Jolla, CA
Serving Coastal San Diego, Veteran's & Seniors

Get pre-approved with Jason E. Gordon 

Jul 03, 2017 06:48 PM
Rainmaker
1,650,742
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC • Short Sale • Probate

Talk to an experienced lender or better few before committing to one. 

Jul 03, 2017 06:28 PM
Rainmaker
3,988,138
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Speak or meet with a reputable lender and the lender will qualify and present the buyer with options if the buyer is able.

Jul 03, 2017 06:07 PM
Ambassador
2,708,588
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Turn off HGTV.

Never visit the Zillow website.

Jul 03, 2017 04:27 PM
Ambassador
5,489,132
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Start by meeting with one of my preferred lenders - then, let's talk shopping for a home!

Jul 03, 2017 03:19 PM
Ambassador
3,662,341
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Hire and experienced agent!

Jul 03, 2017 02:30 PM