Before You Buy a Home

So you're ready to find a new home! You may already have a good sense of what you are looking for in your next home. But a big obstacle to purchasing the new one can be coming up with the down payment. Most lenders require buyers to include a portion of their own funds—the down payment—toward the purchase of the home.

Saving for a down payment can be one of the most challenging steps in buying a home, particularly if it is your first home. Your down payment plus your pre-approved loan amount will determine how much home you can afford. A down payment can come from many places: savings, investments such as stocks and bonds, gifts from relatives, company bonuses, equity in other assets, and life insurance policies, to name a few. Moreover, there may be home mortgage alternatives that do not require a down payment.

If you currently own a home, then you may want the equity you have built in that house to serve as the down payment on your next home. But how much is your current home worth? I would be happy to provide you with a market valuation so that you will know its current value.
If you provide me some basic information on your home, I will use it to establish a list of comparable properties in your area as reported by the Multiple Listing Service (MLS). This will give you a range of prices at which your home would be expected to sell. Then I can prepare a more precise and thorough valuation by taking a brief look at your home. If you are interested in this, then I can arrange a convenient time to stop by if you click here.