FAQs
How do I go about buying a home?
This is the most common question buyers ask when they are considering purchasing a home. First, I am not a licensed mortgage loan originator and do not represent myself as such. Please consult your lender/bank for their requirements.
What kind of credit score do I need to have?
Most lenders have a baseline credit score they use to pre-approve borrowers. Based on my experience, 580 or above is what you’ll want to have. The better your score, the better the terms will be on your loan.
How much of a down payment is required?
There are loans which will let you in for as low as 5% – 10% of the value of the home, but I would consider 5% to be the floor. More is better, especially if your credit isn’t as optimal as you’d like it to be. Working with a loan officer will help.
What’s the first step to home buying?
Getting pre-approval for a mortgage. Don’t shop for a home until you know what you can afford. There’s no use in falling in love with a $500,000 home in your dream neighborhood if the banks will only write you a loan of $150,000.
How much do I have to pay my real estate agent?
Generally, as a buyer, you don’t pay your real estate agent. In our area, the standard practice is that the seller pays both the commissions of listing agent and buyer’s agent.
Why should I use a real estate agent?
As licensed professionals, the job of the agent is to represent your interests. It is your agent’s duty to advise you about the transaction and facilitate the process.
How long does it take to buy a house Ithaca?
The home search takes time, but after you find the home you want to buy, it takes, on average, between 45 and 60 days. It helps if you have a clear idea what you’re looking for and able to afford. This is something I could help you with.
Is there more to buying a home?
Yes, but the information provided here covers the basic introduction to the buying process. If you choose me as your agent, I will walk you through the rest, guiding you along the way. When you’re ready to make the move, please reach out to me: jala@ithacarealestateagent.com / 202.641.5181
Start Your Search Today
I would love to help you with your search and the purchase of your new home. You can contact me at jala@ithacarealestateagent.com or 202.641.5181 or start here