Lake City, SC

No, you don’t need a real estate agent, but having one can be really helpful to guide first-time buyers through the steps to buying a house. Plus, homebuyers generally don’t have to pay their agent, who will receive a portion of the fee paid by the sellers.

Mortgage companies have pre-approval processes that look at your credit, income, and available assets to determine which price levels you may be able to target. You may get estimates on a down payment and a monthly mortgage amount that fits your budget.

Consider making an offer. A real estate agent can assist with bringing that offer to the homeowner, or you may take that figure directly to the seller if the house is marketed without an agent’s involvement. Hopefully your bid is accepted. If it is countered, you will have to decide if you can afford the new proposed price. If it is rejected, your search continues.

Closing costs vary depending on the mortgage loan product you and your mortgage advisor discuss.

When all the brush strokes complete the picture, crossing over the literal and figurative threshold to home ownership may take as few as 30 days, but varies greatly based on your individual situation. In between application and closing, you’ll need a home inspection, and the lender will appraise the property to ensure the property value jives with the amount you’re borrowing.

Reach out to Finance of America Mortgage for assistance in your journey. Our experienced mortgage professionals have helped thousands of people achieve their dreams of owning a home.