A: Using an experienced realtor offers expert market knowledge, access to all available homes for sale on the multiple listing service (MLS), and strong negotiation skills to help you secure the best price and terms. We guide our clients through every step, from paperwork to inspections, and connect you with trusted professionals, making the home buying process efficient and stress-free.

A: Preparing for a new home purchase involves budgeting for a down payment, managing your credit score, and understanding your mortgage options. The first step we present to our clients is understanding what the buying costs are, and then presenting you with the resources to evaluate you personal financial situation using a simple Personal Financial Statement and Net Worth Worksheet.

A: As first-time home buyers, you have several loan programs to consider, such as FHA loans, VA loans (if eligible), Utah Housing, and conventional loans with lower down payment options. These programs are generally available nationwide (with the exception of Utah Housing) and not specific to Bountiful. However, you may also find area-specific grants or assistance programs offered by a specific county or city itself, which can help reduce your down payment or closing costs. It’s a good idea to check with local lenders to see if you qualify for any of these additional resources.

A: As a recent graduate, the first step is to assess your financial situation by calculating your income, savings, and current debts. You’ll want to establish a budget that reflects what you can comfortably afford in Layton’s housing market. Next, review your credit score, as this will impact the type of loan and interest rates you’re eligible for. There are also first-time home buyer programs that can help, such as FHA or Utah Housing loans, which offer more lenient down payment and credit score requirements. Utah offers statewide assistance programs for first-time buyers.

A: Determining how much you can afford starts with a personal financial assessment. Take a close look at your income, debts, and existing savings. A common rule is that your monthly mortgage payment should not exceed 28% of your gross income. There are many mortgage calculators that can help you get a clearer idea based on Farmington’s home prices. Additionally, meeting with a lender to get pre-approved for a mortgage can give you a realistic budget based on your financial standing. Keep in mind that local grants or programs could help reduce your out-of-pocket costs, making a home in Farmington more affordable.

A: Yes, veterans can qualify for VA loans, which offer benefits like no down payment and no private mortgage insurance. These loans are available nationwide, including in Syracuse. Additionally, some lenders in Utah offer extra benefits for veterans, so it’s worth consulting with local lenders to explore all your options.

A: Both new construction and existing homes in Kaysville have their benefits. New homes typically come with modern features, fewer maintenance issues, and energy efficiency. However, existing homes may offer more character and established neighborhoods, potentially at a lower price. It ultimately depends on your budget, timeline, and preferences as a first-time buyer.

A: Yes, self-employed individuals can qualify for first-time homebuyer loans, but the process may require more documentation. Lenders will typically ask for two years of tax returns, profit and loss statements, and other financial records to assess your ability to repay the loan. Working with a mortgage broker familiar with self-employed buyers in South Jordan can make the process smoother.

A: When buying a home it’s important to consider not only the down payment but also closing costs, which include lender fees, title insurance, and taxes. You’ll also want to factor in the cost of a home inspection, appraisal, and homeowners insurance.  Also there may be potential maintenance or repair costs, especially in older homes that will need to be addressed once you move into the home.

A: Traditionally, a seller would often advertise a Buyer Brokerage Commission on the Multiple Listing Service (MLS) which would usually cover the buyer’s agent fee. This fee would be paid to the Buyer’s agent’s Brokerage from the Seller’s proceeds of the sale. However, recent changes have made it the buyer’s responsibility to pay this fee, which on average typically ranges between 2% to 3% of the purchase price. That said, with over 15 years of experience, we’ve successfully negotiated in most all transactions for the seller to cover all or a significant portion of this fee. It’s a point we can discuss further during the First-time homebuyer course, Foundations of Homebuying, as every transaction is unique and negotiable based on the circumstances.