Congratulations!

You have decided to make your dream of owning a home into a reality.

You are going to embark on a journey toward the American dream of becoming the owner of your own home. As with any journey toward a prized goal, you may encounter problems along the way. Stewart Title is here to help you leap the hurdles, navigate the obstacles or smooth the snags that might impede your journey.
Before you begin, let's look at some important issues that will provide you with the answers and the steps that will make your journey a pleasant and rewarding experience.
  • How much home can you reasonably afford?
  • Choosing the best real estate agent for you
  • Selecting the most advantageous mortgage lender
  • Choosing the right mortgage
  • What is an FHA Loan?
  • Finding the perfect home
  • Making the Offer
  • Closing the Deal

How Much Home Can You Reasonably Afford?

Before you begin the search for your dream home, decide how much you can comfortably spend. Mortgage lenders most often will take into consideration all of the following:The size of your down paymentYour job stabilityExisting debtsCredit references and,Payment history.Knowing your credit status and how credit agencies rate your credit also may be a deciding factor,…

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Choosing the Best Real Estate Agent for You

Once you’ve assessed your spending qualifications, you will need to find a real estate professional. As with any major journey, you need a capable, competent guide, one who clearly is able to lead you through the steps that ultimately will bring you to your final destination – your new home.Choose an agent with whom you…

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Selecting the Most Advantageous Mortgage Lender

With your realtor chosen, you now have someone who can guide you through the process of securing a mortgage lender. Your agent will help you understand and choose the type of lender that best fits your financial needs.Each lender is different, so be sure to choose one that will work with you and your specific…

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Choosing the Right Mortgage

The next step in your journey is choosing the right type of mortgage for your individual financial needs. While there are some people who can and do pay cash for a new home, most are like you, and this is where your lender’s skills and knowledge will take effect.Pre-qualifying before house hunting puts you ahead…

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What is an FHA Loan?

In 1937, under an act of Congress, the Federal Housing Administration was established to provide American families with a unique opportunity to become homeowners. Formerly, a homebuyer’s options were limited only to short term loans ranging from one to five years in term. Borrowers had to put as much as 40 to 50 percent down…

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Payment Problems and VA

Should one fail to pay, FHA insures mortgage loans made by approved lending institutions. The FHA insures a variety of mortgages, including FRMs, ARMs, GEMs and GPMs. Down payments are low – 5 percent or less. The FHA doesn’t set the interest rate on loans it insures, so you’ll need to shop around for the…

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Finding the Perfect Home

You are now ready and armed with your pre-qualification or pre-approval to find the home of your dreams. Your journey has brought you this far and now your real estate agent will provide you with as many homes as you care to see.However, do you know what kind of home you are looking for? Do…

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Making the Offer

You may already have an idea of where you want to live, but if you don’t, here are few things to think about: Look at the surrounding houses in the neighborhood. Are the homes and yards well kept? The condition of these homes will affect the value of the home you buy. Is it visually…

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Closing the Deal

You’ve finally found the home of your dreams. You’re ready to put your money where your mouth is – but wait – before you sign on the dotted line, before you spend the money your lender has provided and before you start thinking about interior and exterior design, find out a few things first. Those…

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Now What?

With your real estate agent’s assistance, offer the seller a written contract setting out the commitments and promises that you and the seller need to agree on and fulfill in order to make the sale. A well-drawn contract should protect all parties.The first contract you submit should be comprehensive and include everything of any importance.…

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