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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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Lakefront luxury on the beautiful shores of Lake Killarney! Custom built with attention paid to every detail, this Mediterranean oasis delivers 4 spacious bedrooms, 3 full and 1 half baths, a library, theater room, climate controlled wine room, infinity edge pool and sweeping water views! 100’ of private lake frontage, 4 fireplaces, fiber optic lighting and a full Summer kitchen make this home an entertainer’s paradise. Step inside the grand front entry doors and be greeted by a panoramic view of Lake Killarney through the floor to ceiling windows. The custom 20’ stone fireplace is a striking feature of this open floor plan in addition to the travertine tile floors, and elegant floating staircase. Follow the natural flow into a chef’s dream kitchen featuring a hidden sub-zero refrigerator, Wolf gas range in the cooking island with granite counters throughout, and a comfortable casual breakfast nook with French door access outside and tons of natural light. The 3-sided stacked stone fireplace adds ambiance to the kitchen as well as a gorgeous custom-built library, and the beautiful living area, where 2-story windows complete with remote-controlled window treatments overlook Lake Killarney. The main floor features the 3 guest bedrooms, one with an en-suite bathroom. The staircase is a work of art and brings you to your personal retreat in the Owner’s suite, which features stunning lake views, a dual sided fireplace, sitting area, mini bar, oversized walk-in closet and a large private balcony! The en-suite bath features an expansive dual sink vanity for space and storage, jetted tub with lake views and a huge shower with dual shower heads and seamless glass doors. Also on the second floor is a bonus room which would make a great nursery, home office or gym, as well as a fully equipped and furnished media room. The backyard of this home is thoughtfully designed and one of a kind for the family that likes to entertain, offering a well equipped Summer kitchen with bar seating, fireplace, and a heated infinity pool with a zero edge spillover spa, colored lighting, and fire bowls. Bring your boat - the covered dock features a lift with electrical and a deck for watching the sunset over the lake! Call today and schedule your private tour of this lakefront sanctuary! $3,295,000 Active

2138 Lake Drive Winter Park, Florida

4 Beds 4 Baths 5,100 SqFt 0.380 Acres

Homes like this don’t come around often! Don’t wait to build, this gorgeous POOL home is LIKE NEW (2019) without the wait on a PREMIUM ½ ACRE LOT with WATER VIEWS in the GATED Estates at Lake Pickett! Impeccable landscaping, a PAVER DRIVEWAY, COVERED FRONT PORCH, and a SIDE FACING 3-car garage create a curb appeal you can’t resist and welcome you HOME! Entering this stunning home you will note the WOOD LOOK TILE flooring for easy maintenance, TRAY CEILINGS, eye catching CHANDELIER light fixtures throughout and more! Start your tour in the FORMAL DINING AREA to the right offering access to the kitchen, and to the left you will find a flexible den space - perfect for a home OFFICE. On the way to the kitchen is a HALF-BATH, convenient for guests. The family chef will absolutely fall in love with this GOURMET KITCHEN boasting GRANITE COUNTERTOPS, upgraded STAINLESS STEEL APPLIANCES including a BUILT-IN OVEN, RANGE HOOD, large ISLAND with a PREP SINK, breakfast bar, and WALK-IN PANTRY! The kitchen is open to the BREAKFAST NOOK and FAMILY ROOM, with two sets of TRIPLE SLIDING GLASS doors offering VIEWS of the SPARKLING POOL and POND! Next to the dining nook, you will find an additional OFFICE space/media room with a PASS-THROUGH window - allowing you to work and still keep an eye on everything happening in the home. The main floor also delivers a nice sized bedroom and EN-SUITE bath with an extended vanity and shower with a BENCH - perfect for guests or an IN-LAW SUITE. Making your way upstairs you will find yet another flexible living space in the generous LOFT, along with SPLIT BEDROOMS! The PRIMARY SUITE can be your escape at the end of a long day with space for all your furniture, a wall of windows for fantastic light, WALK-IN CLOSET and the perfect EN-SUITE BATH! A SOAKING TUB, separate TILED SHOWER and divided DUAL VANITIES give you everything you need in an EN-SUITE. The FOUR additional bedrooms are also a great size and include TWO EN-SUITE BATHS. There is another HALF-BATH and spacious LAUNDRY room upstairs as well! This backyard is pure paradise - sit under the COVERED LANAI and enjoy the serene POND views or splash with your family and friends in the SCREENED-IN POOL! Estates at Lake Pickett offers a community boat ramp, and the ability to live in one of the only new home communities with access to Lake Pickett. This gated community in East Orlando is conveniently located near Waterford Lakes Town Center, Oviedo on the Park, Oviedo Mall, and SR 408 and SR 417 for an easy commute to Downtown or Lake Nona's Medical City. This home has all the bells and whistles of a new build without the wait! Schedule your private tour today and start making memories for years to come! $975,000 Pending

15091 Cuddy Court Orlando, Florida

6 Beds 6 Baths 4,877 SqFt 0.500 Acres

Exceptional Dr Phillips home in the gated community of Kensington Park with a heated POOL & SPA in your private backyard oasis, TILE/HARDWOOD FLOORS throughout and updated A/C UNITS (2020) in the perfect location to enjoy endless shopping, entertainment and dining on Restaurant Row! Manicured landscaping, stone accents, a side facing 3-car garage and double glass entry doors off the covered front porch offer striking curb appeal and welcome you HOME! Stepping into the spacious foyer you will immediately notice the attention to detail this stunning home offers from the tile floors set on a diagonal, crown molding, arched doorways and thoughtful design accents everywhere you turn! The formal living and dining spaces offer elegant entertaining options and flow naturally into the kitchen and family room. The family chef will fall in love with the GOURMET KITCHEN delivering seemingly endless cabinetry that includes an island, stone counters, built-in double oven, wine fridge, closet pantry and breakfast bar and dinette seating for casual dining with a view of the pool! The kitchen looks out onto the comfortable family room with another set of sliding glass doors and an decorative FIREPLACE with floor to ceiling BUILT-INS on both sides! Ideal SPLIT BEDROOMS offer a true escape in the OWNER’S SUITE featuring the beautiful HARDWOOD FLOORS, great natural light from the many windows, direct access to the lanai and SITTING AREA; plus a CUSTOM WALK-IN CLOSET and private EN-SUITE BATH! The main floor includes four more bedrooms, three additional full baths (Jack & Jill, guest, and Pool Bath!), an office nook and laundry room. Upstairs you will find an expansive BONUS ROOM/BEDROOM SUITE, flexible to suit a growing family, IN-LAW’S or anything else you might need! The cherry on top of this must see home is the gorgeous pool and spa, surrounded by a TRAVERTINE DECK, fully screened to enjoy the covered lanai relaxing poolside by day and getting cozy around the stacked stone fireplace by night! Noteworthy; there is a new water heater and water softener, natural gas and solar to heat the pool/spa and a TILE ROOF! In the perfect location to explore everything Central Florida has to offer with TOP-RATED SCHOOLS, community playground and tennis courts with easy access to major roadways, parks, lakes and so much more! Call today for your private tour and fall in love with Keeneland Circle! $950,000 Active

4842 Keeneland Circle Orlando, Florida

6 Beds 5 Baths 3,717 SqFt 0.280 Acres