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7 Steps to Be Ready to Buy a House in 2018

1. Check your credit score.

A credit score is a numerical representation of your credit report. FICO scores range from 300 to 850, and the higher your score, the better. Good credit is like gold when obtaining a mortgage. Typically, you’ll get the best interest rate on a loan if your score is 740 and above. “A higher credit score should net you a lower mortgage rate,” says Lee Gimpel, co-creator of The Good Credit Game, which specializes in financial education. “That lower rate, even if it’s only 1 or 2 percent lower, can mean saving thousands of dollars per year.” If your credit score falls short, get busy repairing it. Correct any errors that might be on your report, start paying all your bills on time, and get your credit limit raised. Note, though, that you shouldn’t max out your card each month. It’s best to use 30 percent or less of your total available credit.

2. Don’t open new credit cards.

Tempting as saving at checkout can be, opening new credit may hurt your chances of getting a mortgage, or at least of getting the best rate on a loan.

“By opening the account, you have created another line of credit,” says Paul Anastos, president of Mortgage Master, a division of loanDepot, a nonbank lender. “That credit line, and what is borrowed, can change the application numbers and jeopardize the application.” What could save you a few dollars now could cost you far more in the long run if your mortgage payments will be higher.

3. Save the cash from your tax return, skip vacation this year or ask for birthday or other gifts to be given in cash

Besides the mortgage loan, you’ll need a sizable amount of cash to buy a house. There’s the down payment to consider, closing costs, and moving costs. You should also set aside money for unexpected repairs and costs, says Brian Betzler, regional sales manager at TD Bank. Not being prepared “is probably why nearly half of millennials incurred up to $5,000 in unexpected costs during the mortgage process, according to a TD survey,” he says.

A potential solution? Bulk up that emergency fund. You might be getting some money back after you file your tax return. Don’t blow it on vacation. A tax refund is a great way to add to your cash reserves for a down payment. Ask relatives to help you save for a home this year by not sending birthday or other gifts. Small sacrifices in the short run may mean the chance to own sooner than later!

4. Call Wemert Group Realty sooner than later… even if you think it may be months before you can buy!

Getting in touch with an agent now and discussing your needs and how you can partner together to meet them will help you accomplish your goals. Wemert agents are THE best in the business and have access to many additional resources which may even help you reach your goals quicker than you anticipate. In this market, you need an educated professional who will keep you from over paying and who can help guide you through the process every step of the way.

5. Keep tabs on interest rates.

If you hear that interest rates are at historic lows or that interest rates are on the rise, you should not assume that you can get the rock-bottom rate. Not everyone gets the same interest rate on a mortgage loan. It depends on your financial picture and on the lender you choose. Most folks know that home prices are, at least to some extent, negotiable, but we find loans to be the same. We advise that homebuyers shop around for the lowest interest rates. Note that closing costs can vary too, so discuss with your Wemert agent creative ways to keep yours down.

6. Find a mortgage lender.

Before you even start looking for a home (and yes, we even mean browsing online listings), look for a mortgage lender to find out if you can afford to buy a home. If you can’t right now, there’s no use torturing yourself by finding your dream home that’s just out of reach. But how do you find a lender? If you don’t know where to start, we are happy to refer a list of some local lenders to you. Compare [that lender] with two others. Once you know how much home you can afford, your agent can set you up on a comprehensive home search based on your preapproval amount or less based on the budget you discuss together.

7. Get preapproved.

When a lender gives your financials the once-over and preapproves you for a mortgage, you’ll be able to show sellers that you really can buy their house. But how do you get preapproved? By preparing a few documents, which you can do several months in advance of the actual purchase. Here is a list of some of the basic things  you will need to gather if you would like to buy a house. Your mortgage professional may request other documents from you during the process.

Tax returns for the past two years

W-2 forms for the past two years

Paycheck stubs from the past few months

Proof of mortgage or rent payments for the past year

A list of all your debts, including credit cards, student loans, auto loans, and alimony

A list of all your assets, including bank statements, auto titles, real estate, and any investment accounts

If 2018 is your year to buy a home, or if you know someone who would like to buy a home…

We encourage you to connect with us NOW!  Our team will work tirelessly to help you meet your goal of homeownership. Our agents will over turn every rock necessary to find you the perfect home, in budget –  on your timeline. We promise to partner with you every step of the way to make this process as easy as possible.

Connect with us today by calling 321-567-1202

 

 

 

 

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One or more photo(s) has been virtually staged. Comfort and luxury all rolled into one in the GUARD GATED Lake Nona community of Village Walk and this gorgeous MOVE-IN-READY HOME just steps from the new Village Park Elementary school with a MAIN FLOOR BEDROOM/BATH and POND VIEWS! 5-bedrooms and 4-full baths paired with a dedicated office and bonus/loft means room to grow and endless versatile space for whatever your family might need. The TILE ROOF gives you peace of mind for years to come and both the INTERIOR & EXTERIOR PAINT IS NEW! Ceiling fans have been added to all the bedrooms, the garage floor is epoxied and you will find LUXURY VINYL WOOD PLANK and CERAMIC TILE FLOORS throughout for easy maintenance. As you step through the front door the office will be on the left with your formal dining space beyond with an EN-SUITE MAIN FLOOR BED/BATH down a hallway to the right - perfect for overnight guests or an IN-LAW SUITE! Follow the natural flow into the heart of this home and the family chef’s dream kitchen featuring beautiful cabinetry with built-in wine storage, stainless steel appliances, stone counters, WALK-IN PANTRY and a large ISLAND with breakfast bar seating under pendant lighting for casual dining or entertaining. There is room for a second dining space in front of the OVERSIZED SLIDING GLASS DOORS for the perfect transition into the generous living room! Also off the kitchen there is a media nook in the same finishes with built-in desks and even more storage. The LVP floors continue upstairs into your BONUS/LOFT whether you need additional family space, play space, office space or a game room - the possibilities are endless! There are three more bedrooms on the second floor in addition to the must see PRIMARY SUITE boasting another large window for great natural light, sizable DUAL WALK-IN CLOSETS and an expansive private bath. Step out onto the SCREENED LANAI and imagine quiet mornings with your favorite cup of coffee or evenings spent with friends overlooking the immaculately maintained landscaping with the water views beyond! Village Walk is a vibrant and friendly community with something for the whole family and the HOA also takes care of your lawn, cable and internet! The community also delivers two swimming pools; one Olympic size and one lap pool, a 24 hour fitness center, six clay tennis courts, basketball courts, clubhouse and playground! Conveniently located in the heart of Lake Nona just minutes from Medical City, the Orlando International Airport, USTA headquarters, shopping and dining with easy access to SR 417, 528 and all the attractions Central Florida is known for! Your low maintenance lifestyle in an amenity rich community is calling - schedule your private tour today and fall in love with Uleta Lane! $995,000 Active

12010 Uleta Lane Orlando, Florida

5 Beds 4 Baths 4,135 SqFt 0.170 Acres

Under contract-accepting backup offers. One or more photo(s) has been virtually staged. Fantastic opportunity to own a home in the Bay Hill community with tons of character as is or continue the renovations and turn it into the home of your dreams! The expansive layout, large bedrooms and SCREENED POOL make this 5-bedroom, 3.5-bath home a MUST SEE! Your ROOF IS BRAND NEW (2023), A/C (2022) and you can enjoy the tankless water heater. In addition to this unique home the Bay Hill community offers residents an array of FABULOUS AMENITIES and everything you could ask for in a GOLF COMMUNITY! The .41 ACRE CORNER LOT makes this feel like a private estate with driveway access from both Brookline Dr and Bellemeade Cir (which is a CUL-DE-SAC street!). Double front entry doors open up to a light and bright foyer with your choice of a formal dining area to the left and a formal living area complete with a dry bar and sliding glass door access to the lanai directly in front of you, open to the second floor catwalk above. Follow the natural flow into the generous family room with another SOARING CEILING, brick front fireplace, TRIPLE SLIDING GLASS DOOR to access the OUTDOOR KITCHEN, open to the breakfast nook and kitchen! Perfectly situated in the heart of this home is the comfortable kitchen with a convenient built-in desk and ample storage! Your MAIN FLOOR BEDROOM has dual closets and a built-in desk or vanity area and easily accesses a FULL/POOL BATH! Also on the main floor a convenient half bath for visiting guests and a large laundry room with a window and built-in cabinetry. Head upstairs and stop first in the expansive PRIMARY SUITE with room for a bedroom and sitting area boasting TWO WALK-IN CLOSETS and a private EN-SUITE BATH with everything you could ask for! The remaining bedrooms are spacious and bathrooms three and four have been completely renovated. Love to entertain? This home has a covered lanai that runs the entire length of this home where you can prepare a meal in the outdoor kitchen and dine poolside, the entire area is screened for your comfort! Whether you are a golf lover or are looking to live the lake life; the Bay Hill community has you covered with access to the BUTLER CHAIN OF LAKES via the Bay Hill Marina or golf the day away at the Bay Hill Club and Golf Course! In the sought after Dr. Phillips area with easy access to TOP-RATED SCHOOLS, shopping, dining, entertainment and so much more. This home is easy to show and ready for a new owner to come in and maximize its potential! Call today to request your tour and fall in love with your new HOME SWEET HOME on Brookline Drive! $975,000 Pending

5447 Brookline Drive Orlando, Florida

5 Beds 4 Baths 3,514 SqFt 0.410 Acres

One or more photo(s) has been virtually staged. Located in Oviedo’s Most Sought After Community, Live Oak Reserve- this is the EXECUTIVE POOL HOME you have been waiting for! Live Oak Reserve features over 900 homes on spacious oversized lots, a lake, endless ponds and array of fantastic AMENITIES that include a soccer field, basketball courts, tennis courts, baseball field, sand volleyball court, playground, community clubhouse and a community pool with a WATER SLIDE and SPLASH PAD! ROOF 2016 - BOTH AC UNITS- 2019- Zoned for TOP- RATED SEMINOLE COUNTY SCHOOLS (Partin Elementary, Lawton Chiles Middle and Hagerty High), this spacious 5-Bedroom, 3-Full Bath EXECUTIVE POOL home sits on a prime .57 ACRE CUL-DE-SAC LOT with a 3-WAY SPLIT FLOOR PLAN, an OFFICE and a large BONUS ROOM (5TH BEDROOM) with direct access to the lanai and pool! The 5th Bedroom also would make a PERFECT IN-LAW SUITE. As you tour the home take note of the upgraded and designer accents throughout, starting in the formal living and dining spaces. Entertain friends and family with ease; there are TILE FLOORS for easy maintenance and TRIPLE SLIDING GLASS DOORS for indoor/outdoor living at its finest. Your kitchen and family room are light and bright, featuring the 12’ CEILINGS you will find throughout, a great space to gather, complete with a BUILT-IN BREAKFAST NOOK! Another set of sliding glass doors provides endless natural light and additional access to the expansive lanai! SPLIT BEDROOMS allow you to escape into your primary suite boasting another beautiful ceilings, SITTING AREA, private access to the lanai/pool, DUAL WALK-IN CLOSET and a must see en-suite bath. Like stepping into a spa, your private bath gives you everything you need and more with a garden tub at the center, huge WALK THROUGH SHOWER, extended SPLIT VANITIES and space for a vanity/seating. The additional bedrooms are all sizable with easy access to the guest bathrooms. The enormous outdoor space makes this home an entertainer's dream with multiple seat areas and a HEATED SALT WATER POOL with a rock feature all SCREENED for your comfort. The expansive backyard is fenced and overlooks mature trees to add to the secluded feel of your private oasis! Live Oak Reserve is an AMAZING community with a LOW HOA that offers a plethora of AMENITIES including a resort-style pool & splash pad, fitness center, clubhouse, playground, parks, volleyball, tennis & basketball courts. You are just minutes from Oviedo Mall, Oviedo on the Park, Waterford Lakes Town Center, Seminole State College, UCF, Research Park, restaurants, shopping
and so much more! With room to grow inside and out, this is the perfect home to create memories for years to come! $925,000 Pending

3928 Bluebeech Court Oviedo, Florida

5 Beds 3 Baths 3,356 SqFt 0.570 Acres