Before You Buy :. NC Pittsboro: Cindy Brudvik Davis - RE/MAX Southern Advantage Pittsboro, Chatham County NC, Pittsboro NC

Before You Buy a Home in Pittsboro, Chatham County, or the NC Triangle

In order to prepare for a home purchase in Pittsboro, Chatham County, or the NC Triangle, there are several steps you can take, regardless of your timeframe. I can help you with many of these, and advise you on your individual circumstances:

Check your credit report and ensure that it is accurate. Now is the time to correct any inaccuracies or take steps to improve less-than-perfect credit. A mortgage lender can do this for you, or you can start by checking yourself. Here are some places to start:

Save your money. While there are loan programs available for first time buyers, and those with modest funds available for a down payment, there are typically some out of pocket expenses (closing costs) associated with purchasing a home.

Reduce your debt. While it's a good idea to pay down debt, don't close any accounts before speaking with a mortgage lender. Intuitively, it seems like closing a credit account would bolster your credit score, but it actually usually does the opposite. Your mortgage lender will be able to tell you what's best in your particular circumstance.

Contact a mortgage lender. A good lender will be able to explain current loan options most advantageous to your unique situation, and help determine how much house you can afford. This doesn't mean the maximum amount of house for which you can qualify, but rather, given your other payment obligations and your long term home ownership goals, what price range of home will best fit into your household budget. I can refer you to some reputable local lenders. You may also wish to speak with your bank or credit union.

My mortgage calculator allows you to enter different mortgage amount, interest rate, and term scenarios to help you estimate your monthly principal and interest payment.

Obtain a pre-approval letter from your mortgage lender. A pre-approval differs from a pre-qualification in that with a pre-approval, the lender has checked your credit report and verified your assets. Having this letter in hand when making an offer on a home or real estate gives you credibility as a pre-approved buyer with a seller.

Hire a licensed real estate agent and REALTOR to represent you as your buyer's agent. Even if you intend to buy new construction, you should have an experienced buyer's agent protecting your best interests in the transaction. I can provide you with full buyer's agency at no cost to you.

Cindy Brudvik Davis, RE/MAX Southern Advantage, a full service real estate agent in Pittsboro, Chatham County, will work on your behalf to actualize your real estate and home ownership goals in the following NC Triangle towns and communities:

Apex (Chatham and Wake Counties)

Carrboro (Orange County)

Cary (Chatham and Wake Counties)

Chapel Hill (Chatham and Orange Counties)

Fearrington Village (Pittsboro in NE Chatham County)

Governor's Club (Chapel Hill, Chatham County)

Graham (Southern Alamance County)

Holly Springs (Wake County)

Morrisville (Wake County)

Pittsboro (Chatham County)

Raleigh and North Raleigh (Wake County)

RTP (Research Triangle Park)