7419 Nachand Lane

Louisville, KY 40218

al@afowlerrealtors.com

Phone:(502)491-5110

Fax: (502)491-5210

 

 

 

 
 
Buying a home can be a long, complicated and frightening process, and it is important to be prepared. Knowledge is power when it comes to negotiating the difficult world of home prices, interest rates and mortgage loans. For a first time home buyer, there are many factors to consider before you buy. The more information you can gather before you start shopping, the better off you will be.
  
Even though the real estate market has slowed down in recent months, there are still plenty of homebuyers eager to make a purchase. Knowing how to prepare your home for sale, when to allow access for showings, and how you can offer buyer incentives will help you find the right buyer, even in a declining market.
 
 

Look Beyond the Price

When it comes to securing a quality mortgage loan, it is important to look beyond the interest rate to the true cost of the loan, both now and in the future. Read the paperwork, including the fine print, carefully, especially if the interest rate is below market rates. Upon closer inspection you may find that the interest rate is guaranteed for only a short period of time, or that it is subject to rise sharply in the future. Your mortgage loan may be the most important contract you will ever sign, and it is essential that you understand your rights and your responsibilities before signing on the dotted line.

In many cases it will make sense to hire a lawyer to review the mortgage paperwork for you. Many communities provide some sort of first time homebuyer program designed to help renters become homeowners, and these organizations may be able to provide the legal advice you need at a price you can afford.

 
 
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