Whether you’re a first-time home buyer or a seasoned investor, it always helps to know what to look for when buying a house. There are numerous red flags that can pop up while checking out a home and to make sure you don’t miss them, I have put together this checklist to use when buying a home.
Ask your loan officer the questions below and use their responses to decide which lender you should work with to purchase your property. If you do not like the answers, a loan officer gives, don’t be afraid to move on until you find a lender who is aligned with your needs.
Not all people meet the requirements to obtain a new mortgage. Any lender you use will require multiple documents from you to prove that you have the ability to repay a loan. This list tells you everything you may need to successfully apply for a mortgage.
This questionnaire will establish their level of experience, precisely what you can and can’t expect from the broker and how they treat their real estate agents. This last point is essential because happy, well-compensated staff are more likely to do a better job for you.
This questionnaire will help you evaluate your appraiser’s local knowledge, work experience, and professionalism, prior to the appraisal taking place. This will help prevent an under-qualified appraiser assessing the home and ensures that your mortgage lender will receive an accurate report.