Q. How do I begin the process?
A. The first step is to call an agent who you can trust, our phone number is 616-827-2521
Q. How do I know who to trust?
A. The client should always ask for references! Check for experience, education, expertise, and someone you feel completely comfortable with.
Q. How do I know what I can afford?
A. A real estate agent can guide you in your search with information regarding loans and products available to you that you may not know are even available to you! The Property Price Calculator will give you a ROUGH ESTIMATE of what you can afford, talking to a loan officer is the best option to get more precise information.
Q. What does my credit score mean?
A. A credit score is a barometer to the lending institution as to your willingness and ability to repay. There are many factors that a lending institution will look at as well as your credit score. One of the main credit issues they look at are the housing related payments. For example, late rent payments or current housing payments are weighted more heavily. A lender will be able to guide you through the process with your real estate agent.
Q. How much debt should I have?
A. There are specific ratios used by lending institutions to determine how much you can use of the funds you have which are discretionary. If you have a large amount of recurring payments (car or credit cards i.e.) they will reduce the amount of money you have available to use towards your housing costs.