FAQ

What is pre-approval?

faq

Frequently Asked Questions

Am I ready to be a homeowner?

If you’re a first-time home buyer, you’ve probably asked yourself, “am I ready to be a homeowner?” Don’t worry—homeownership is a big step and Magda with her team is here to help. Purchasing your first home is a major milestone and not a decision to be taken lightly. That is why you need Magda to help you search for the right home, making an offer, going through the mortgage application process and closing on the home.

Is buying or renting better?

Magda will help you to understand if buying is better than renting a home. Reason #1 to buy a house instead of rent. You value stability. Renters may have to move from time to time which is less stable. If you want one place to live and raise children, then there is really only one option. It’s impossible for me to place a value on stability. Some people value it a lot and others don’t. So, if YOU value stability and raising a family in one place, then buying a home makes a ton of sense. Reason #2 to buy a house instead of rent. You find enjoyment in fixing/maintaining a house. If you enjoy gardening, fixing things around the house, having a beautiful landscape etc… you may find value in homeownership. Most landlords don’t want you messing around with their property and won’t appreciate when you are digging up half the yard to plant things. Reason #3 to buy a house instead of rent. Your specific market is out of touch with the rest of the country. If you’re in a local market that you think will appreciate above and beyond the national average, then it might be worth the purchase. Contact Magda she will help you to understand your market well before doing this.

What should I expect at closing?

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 you, the seller, can transfer ownership and possession of the property free and clear to the buyer. Also, you will pay off all loans that you are still carrying on the house and pay all of the parties who contributed documents or services to facilitate the sale and closing.

What is pre-approval

A mortgage pre-qualification can be useful as an estimate of how much someone can afford to spend on a home, but a pre-approval is much more valuable. It means the lender has checked the potential buyer’s credit and verified the documentation to approve a specific loan amount (the approval usually lasts for a particular period, such as 60 to 90 days). Final loan approval occurs when the buyer has an appraisal done and the loan is applied to a property.

Can I ask you for advice?

Yes, you should !!!! No home is perfect beneath the surface, and few know this better than Magda your real estate agent. That means it’s time to sit down with this professional and consult him or her with questions about the property you’re hoping to make your own.

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I started working in Real Estate because I wanted to be able to have unlimited potential for growth. I knew that if I continued to apply a strong work-ethic, I could achieve great things.