![Palm Beach County Florida Buyer Resource page](https://lisagrehnrealtor.com/wp-content/uploads/2022/10/Palm-Beach-County-Florida-Buyer-Resource-page.jpg)
Buyer's Resource Page
Table of Contents
What Questions Should I Ask Myself Before Buying A House?
Buying a new home is a weighty decision. Don’t do it alone! We have the experience and resources to not only help you find the home you are looking for, but the ability to close on that house smoothly and with a lot less stress on your part.
I specialize in first-time home buyers, and I understand what a fearful time this can be. I will guide you through each step, one by one, and explain everything thoroughly so you know exactly what is happening and don’t get overwhelmed.
Before you jump into the buying process, here are some things you’ll need to decide on. This will give you clear direction in your search and help me, as your agent, find the right homes for you.
- Have you spoken with a lender and gotten a pre-approval letter to gauge your budget?
- Do you already have money saved for a down payment, or a plan in place to save enough for one?
- Where do you want to live? Do you have specific neighborhoods or communities you want to live in? Do you want to live in a particular school zone?
- Do you want a larger yard, pool, or other specific requirements for the outside of your home?
- What are the minimum and maximum bedrooms and bathrooms you need? Is there a special home layout or style you are looking for?
Why Is Reviewing My Home Preferences With My Realtor Important?
Reviewing your home preferences with your realtor is important because it gives them a better understanding of what you are looking for in a home. This can help them to better match you with properties that fit your criteria, saving you time and energy. Additionally, by providing your realtor with detailed information about important features and amenities you are seeking, they can be on the lookout for potential properties that may not have been listed yet.
To make this process as efficient as possible, I have created a Buyer’s Kit, which can be downloaded and filled out prior to our initial meeting.
Once you have these questions answered and I know exactly what you need (and want) in a home, we can get started! Use our mortgage calculator below to help you find some estimates of what your monthly payments may look like, and contact us when you are ready to start your search!
Mortgage Calculator Help
You can calculate the mortgage loan amount from the price of the real estate by providing the down payment percentage.
If you know the mortgage amount you can afford and the cash down payment percentage required, you can calculate the affordable real estate price.
Or if you know the price of the real estate and the loan amout and enter "0" for the down payment percentage, the calculator will calculate the down payment amount and percentage.
Points, Annual Property Taxes, Annual Insurance and Private Mortgage Ins. (PMI) are all optional. If you enter values, the periodic portion of each will be calculated and shown on the schedule. Property taxes and insurance are combined under escrow.
If a borrower does not have cash to cover at least 20% of the purchase price, some lenders will require the borrower to purchase private mortgage insurance (PMI) to cover against a possible default. Premiums are typically 0.5% to 2.0% of the original loan amount. The borrower can drop the insurance coverage once the mortgage balance is less than 80% of the original purchase price. The calculator handles this automatically. (There may be other conditions as well under which the lender will no longer require PMI. One such case might be apprciation of the real estate.)
Points are charges that are normally due at closing. Borrowers (normally only in USA) may select to pay a lender "points" up front in exchange for a lower interest rate. Points are expressed in percent and are calculated on the amount borrowed. 3 points on a $200,000 mortgage equals $6,000. If the user enters points, this calculator includes their value in the summary and as part of the total payment at loan origination on the payment schedule.
The term (duration) of the loan is expressed as a number of months.
- 60 months = 5 years
- 120 months = 10 years
- 180 months = 15 years
- 240 months = 20 years
- 360 months = 30 years
Need more options including the ability to solve for other unknowns, change payment / compounding frequency and the ability to print an amortization schedule? Please visit, https://AccurateCalculators.com/mortgage-calculator
Currency and Date Conventions
All calculators will remember your choice. You may also change it at any time.
Clicking "Save changes" will cause the calculator to reload. Your edits will be lost.