Knowledge and experience are the keys to a successful real estate transaction. By involving professional experienced REALTORS® like Marcee and Kevin Rose, you make available an enormous amount of valuable information and data that is only available to them due to their  participation in the National Association of Realtors®. This, along with their local expertise, experience and training -- can be the essential keys to your success.

One of the many keys to making the homebuying process easier and more understandable is planning. In doing so, you'll be able to anticipate requests from lenders, lawyers and a host of other professionals. Furthermore, planning will help you discover valuable shortcuts in the homebuying process.

Do You Know What You Want?
Whether you are a first-time homebuyer or entering the marketplace as a repeat buyer, you need to ask yourself, why do I want to buy. Are you planning to move to a new community due to a lifestyle change or is buying an option and not a requirement? What would you like in terms of real estate that you do not now have? Do you have a purchasing timeframe?

Whatever your answers, the more you know about the real estate marketplace, the more likely you are to effectively define your goals. As an interesting exercise, it can be worthwhile to look at the questions above and to then discuss them in detail with your family before meeting with Marcee and Kevin Rose, your local REALTORS®.

Do You Have The Money?
Homes and financing go hand and hand. (Financing is the difference between the purchase price and the downpayment, commonly referred to as debt or the mortgage.) The good news is that over the years new and innovative loan programs have evolved to require a 5 percent downpayment or less. In fact, a number of programs now allow purchasers to buy real estate with nothing down.

In addition to a down payment, purchasers also need cash for closing costs (the final costs associated with closing the loan). Several newly emerging loan programs not only allow the purchase of a home with no money down, but also underwrite closing costs.

Not everyone, however, elects to purchase with little or no money down. Less money down means higher monthly mortgage payments, so most homebuyers choose to buy with some cash up front.

As to closing costs, in markets where buyers have leverage, it may be possible to negotiate an offer for a home that requires the owner to pay some or all of your settlement expenses. Speak with Marcee and Kevin Rose, your local REALTORS® for details.

Is Your Financial House in Order?
Those great loans with little or nothing down are not available to everyone: You need good credit. For at least one year prior to purchasing a home, you should assure that every credit card bill, rent check, car payment and other debt is paid in full and on time.

For more information:

• 10 Mistakes I Can't Afford
• How Much Can I Afford?
• How to Get a Mortgage
• How will my credit affect getting a loan?
• Q&A for Loans and Credit
• Guard Your Credit History
• Is Your Credit on Target

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