The Answer Book for Buyers

Social Links Widget

Click here to edit the Social Media Links settings. This text will not be visible on the front end.

The Answer Book for Buyers About the Neighborhood QUESTIONS TO ASK About the Neighborhood Where you live should reflect your lifestyle. These questions will help you find the best community for you. Is it close to my favorite spots? Make a list of activities you engage in and stores you visit frequently. See how far you would have to travel from each neighborhood […]
The Answer Book for Buyers Define Your Dream Home WORKSHEET Define Your Dream Home Write in your preferences and rate them:   3 = Vital,   2 = Very Important,   1 = Neutral,   0 = Not important LOCATION PREFERENCES RATE Neighborhood School district Near public transportation Near airport Near expressway Near shopping Great views TYPE Single-family / condo / townhome Minimum / maximum property age Willingness […]
The Answer Book for Buyers Finance a Home, Creatively HOW TO Finance a Home, Creatively Investigate local, state, and national down payment assistance programs. These programs give qualified applicants loans or grants to cover all or part of your required down payment. National programs include the Nehemiah program, Getdownpayment Visit Website.com, and the American Dream Down Payment Fund from the Department of Housing and […]
The Answer Book for Buyers When Choosing a Lender QUESTIONS TO ASK When Choosing a Lender Loan terms, rates, and products can vary significantly from one company to the next. When shopping around, these are a few things you should ask about. General questions: What are the most popular mortgages you offer? Why are they so popular? Are your rates, terms, fees, and closing […]
The Answer Book for Buyers Loans & Lending Terms VOCABULARY Loans & Lending Terms Term. Mortgages are generally available at 15-, 20-, or 30-year terms. In general, the longer the term, the lower the monthly payment. However, shorter terms mean you pay less interest over the life of the loan. Fixed vs. adjustable interest rates. A fixed rate allows you to lock in a […]
The Answer Book for Buyers Prepare to Finance a Home HOW TO Prepare to Finance a Home Develop a budget: Use receipts and your banking transaction history to create a budget that reflects your actual habits over the last several months. This approach will better factor in unexpected expenses alongside more predictable costs such as utility bills and groceries. You’ll probably spot ways to save, whether […]
The Answer Book for Buyers The Tax Benefits of Owning WHAT TO KNOW The Tax Benefits of Owning The tax deductions you’re eligible to take for mortgage interest and property taxes greatly increase the financial benefits of home ownership. Let’s work through a hypothetical situation to see how it works. For a married couple filing jointly earning $112,400 in gross income, here’s how those homeownership […]
The Answer Book for Buyers Improve Your Credit HOW TO Improve Your Credit Credit scores play a big role in determining whether you’ll qualify for a loan and what your loan terms will be. So, keep your credit score high by doing the following: Check for errors in your credit report. Thanks to an act of Congress, you can download one free credit […]
Don't Miss Our Next Post
Subscribe Now
The Answer Book for Buyers About Credit Scores WHAT TO KNOW About Credit Scores Credit scores range between 200 and 850, with scores above 620 considered desirable for obtaining a mortgage. The following factors affect your score: Your payment history. Did you pay your credit card bills on time? Bankruptcy filing, liens, and collection activity also affect your history. How much you owe […]
The Answer Book for Buyers Track Your Budget WORKSHEET Track Your Budget The first step in getting yourself in financial shape to buy a home is to know exactly how much money comes in and how much goes out. Use this worksheet to list your income and expenses below.   Income Expenses Total Take-Home Pay Total Rent/Mortgage Child Support/Alimony Child Support/Alimony Pension/Social Security […]
The Answer Book for Buyers Prepare to Buy a Home HOW TO Prepare to Buy a Home Talk to mortgage brokers. Many first-time home buyers don’t take the time to get prequalified. They also often don’t take the time to shop around to find the best mortgage for their particular situation. It’s important to ask plenty of questions and make sure you understand the home […]
The Answer Book for Buyers Prepare for House-Hunting HOW TO Prepare for House-Hunting Know that there’s no “right” time to buy. If you find the perfect home now, don’t risk losing it because you’re trying to guess where the housing market and interest rates are going. Those factors usually don’t change fast enough to make a difference in an individual home’s price. Don’t […]
The Answer Book for Buyers Agency & Agency Relationships VOCABULARY Agency & Agency Relationships The term “agency” is used in real estate to help determine what legal responsibilities your real estate professional owes to you and other parties in the transaction. The buyer’s representative (also known as a buyer’s agent) is hired by prospective buyers and works in the buyer’s best interest throughout the […]
The Answer Book for Buyers When Choosing a REALTOR® QUESTIONS TO ASK When Choosing a REALTOR® How long have you been in residential real estate? Is it your full-time job? Like most professions, experience is no guarantee of skill. But much of real estate is learned on the job. Do you have any designations or certifications? Real estate professionals have to take additional specialized […]
The Answer Book for Buyers 7 Reasons to Work With a REALTOR® REALTORS® aren’t just agents. They’re professional members of the National Association of REALTORS® and subscribe to its strict code of ethics. This is the REALTOR® difference for home buyers: Ethical treatment. Every REALTOR® must adhere to a strict code of ethics, which is based on professionalism and protection of the public. As a REALTOR®’s client, […]
The Answer Book for Buyers The Answer Book for Buyers Contents A collection of how-tos, checklists, and worksheets to help your buyers and sellers understand what to expect during the real estate purchasing experience. The Basics Buyer What to Know | 7 Reasons to Own A Home page 3 What to Know | 7 Reasons to Work With a REALTOR® page 4 Questions to Ask […]
The Answer Book for Buyers 7 Reasons to Own A Home 7 Reasons to Own A Home Tax benefits. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home. Appreciation Historically, real estate has had a long-term, stable growth in value. In fact, median single-family existing-home sale prices have […]
The Answer Book for Buyers About the Home Inspection WHAT TO KNOW About the Home Inspection Some items should always be examined. Structure The home’s “skeleton” should be able to stand up to weather, gravity, and the earth that surrounds it. Structural components include items such as the foundation and the framing. Exterior The inspector should look at sidewalks, driveways, steps, windows, doors, siding, […]
Bruder Footer
Bruder Footer Contact Info

Terms Of Use | Privacy Policy | Accessibility Statement | Fair Housing Notice

Bruder Real Estate is committed to providing an accessible website. If you have difficulty accessing content, have difficulty viewing a file on the website, or notice any accessibility problems, please contact us at 575.650.7224 to specify the nature of the accessibility issue and any assistive technology you use. We strive to provide the content you need in the format you require.

Fair-Housing-Realtor-MLS-Logo-Footer