Buying Your First Home
Congratulations on your decision to buy your first home in New Jersey! This may be an overwhelming and emotional experience, but we are here to help. Throughout the mortgage process, there are many things to consider, especially as a first-time home-buyer. That’s why we recommend giving SunQuest Funding a call before you start looking for your dream home, so we can help you make your dream home become your new address.
Remember, a home purchase may be your largest financial transaction to date, so it’s important to make the right decisions and to keep an eye on the details. With the assistance of your real estate agent and SunQuest Loan Officer, it should be an efficient, pleasant and rewarding experience.
Finding the Right Home
Your realtor should present the homes that suit your needs as you’ve defined them. An experienced real estate agent will help you determine the difference between a “good buy” and a property which, because of its nature (neighborhood, market appeal, etc.), might have to be discounted if you decide to sell in the future. In addition, they will help negotiate the best purchase price for you.
Most mortgage lenders will offer you a pre-qualification letter, but that is of limited value. A pre-qualification letter is simply a mortgage broker saying they can find a loan for you to apply for, but that doesn’t mean you will qualify for the loan amount you want – or need.
At SunQuest Funding, we can get you Pre-Approved for the mortgage. A Pre-Approval process is as close to a completed mortgage application as you can come – and you can be pre-approved before you have found your new home. That means you can assure the seller that your offer will face fewer obstacles and be more likely to get to the closing table – and, especially in a seller’s market, that is an important distinction to have. It can strongly influence the Seller and may mean the difference between the Seller accepting your offer or an offer from someone else — even if your offer is lower.
Put the power of confidence in your financing behind you with a pre-approved mortgage, so you can concentrate on selecting your home. Read more about Pre-Approval here.
SunQuest Funding Can Help You Save Money
Your SunQuest Loan Officer will help you decide on the best loan program for your specific situation and goals, and this single decision can save you thousands of dollars throughout the years! We will teach you how to track your loan’s progress in our online portal, with your permission, we will update your realtor home loan progress while keeping your personal financial information confidential between you and SunQuest.
Other Things To Remember
Keep your Real Estate Agent informed about any questions or concerns as they develop. Keep the mortgage process moving by providing documentation and decisions as soon as reasonably possible. Enjoy financing your home while remaining objective throughout; make the business decisions that are best for you.