You are ready to buy your home if you meet the following requirements:

– Two years of work history (can be in different companies).

– Two years of tax returns

– Money in your account according to the price of the house you are looking for.

– Work 40+ hours a week

– No debt or as little debt as possible.

– Have credit score or 3 alternative lines of credit (12 months of home alternative line of credit)

– Have a social security or ITIN number

Buying a home has more benefits than you can imagine. It’s not just about being able to move into your own space and stop paying rent every month, but much more than that. This may be the right time to take the next step and embark on the adventure of becoming a homeowner.

Buying a home means having the peace of mind of securing a home for life for you and your family. The money you were paying month to month for rent, you will no longer lose it, but you will be able to use it for the monthly installment of the credit you acquire. If you achieve this, your investment, in addition to obtaining appreciation, will be used to make the dream of acquiring your own roof come true.

Assuming you have good credit and assets to buy a home, the most important factor in qualifying for a mortgage loan is your debt-to-income ratio.

The debt-to-income ratio, or DTI, determines the amount of home you qualify for, and it all depends on how the lender calculates your income.

What you have to keep in mind is that not all of your income may qualify you for a mortgage.

This can be quite frustrating because even if you earn the money, and you can use it to pay the house payment, you can’t use it to qualify to buy the house.

Before viewing houses you should know what are the most important features you are looking for in a house, such as:

– Number of bedrooms

– Number of bathrooms

– Single story or 2 story

– Single home, duet home or condo

– Among other details

Once you have defined your characteristics, our team of realtors at Lauck Real Estate will show you the house and explain all the details of the house. We will advise you if it is really worth buying or not.

A mortgage pre-approval is a thorough inquiry into your finances. A lender won’t simply ask how much income you make—you’ll have to prove it. Your lender will also pull your credit history, verify your income and assets, and assess your financial situation before they give you a mortgage pre-approval.

We are in a seller’s market, meaning that there are many buyers wanting to buy houses. This means that at the moment of writing an offer you have to evaluate different aspects and many times you have to offer more money in order to win the offer.

A home warranty is not the same thing as homeowners insurance, which covers major perils such as fires, hail, property crimes, and certain types of water damage that could affect the entire structure or the homeowner’s personal possessions.

A home warranty is a contract between a homeowner and a home warranty company that provides for discounted repair and replacement service on a home’s major components, such as the furnace, HVAC, plumbing, and electrical systems. A home warranty may also cover major appliances, such as washers and dryers, refrigerators, and swimming pools.

Closing is when the house buyer and seller fulfill all of the agreements made in the sales contract. In more literal terms, it is about the transfer of money and documents so that the seller can transfer ownership and possession of the property free and clear to the buyer.

The Lauck Real Estate team will create a group with you by whatsapp or imessage to keep in constant communication, we are always open to answer your questions and advise you according to your specific situation.