Purchasing a home in Arizona is a very exciting time, and being well prepared will help you make better decisions. Take this opportunity to learn more about home buying and the mortgage process. Below and throughout this site you will find information that will help you with the purchase of your new home.
Am I ready to buy?
Buying a home offers many advantages, one of the most significant being that it allows you to build equity (ownership) when you pay your mortgage each month. A common myth is that monthly mortgage payments are more expensive than rent. But, in many cases, mortgage payments can be even less than rent. When considering home ownership for the first time, you need to decide whether buying makes financial and practical sense for you right now or if you are better off renting. Consider both the advantages and disadvantages to renting as well as buying, and weigh the pros and cons for your situation.
Home buying questions? Ask Craig or call 602 930 2529.
How much house can I afford?
The first step toward finding the right home is to quickly compute your purchasing power and determine how much you can afford to pay each month. This saves you time by allowing you to focus on homes in your price range. In addition, in the planning stage, you should consider both the up-front and ongoing costs associated with purchasing a home.
What to do before, during and after BUYING YOUR home.
- Determine a down payment amount based on your available funds
- Define a monthly payment amount that fits YOUR budget.
- Gather important income and asset documents
- Get Pre-Qualified by Arizona Mortgage Advantage
- Consult with a Real Estate Agent. (Recommended)
- Shop for YOUR home
- Make an offer.
Arizona Mortgage Advantage Pro Tip: Consider asking for seller’s contributions to assist in paying your closing fees and prepaid items like interest, taxes and home insurance.
- Consider a home inspection
- A home appraisal will be completed to determine the value of property
- Do a final walk-through
- Sign final closing documents
- Transfer utilities
- Change your address
This Free Purchase Assistant form has been designed to help narrow down options based on your individual needs. It’s quick, it’s easy, and the more questions you answer – the more accurate your results. You’ll receive the Purchase information you need instantly without all the calls and emails!