CONSIDERING BUYING?

FINANCING- There are many financing options available.  No down payment programs as VA (Veterans).  FHA with as low as 3% down payment for single family or own up to a 4 apartment building.  Most "Conventional  finance programs require 10% down payment. Low down payment as well as NHHFA first time home buyer financing and RD no down payment programs are available..  For more information contact Bill Arnott by e-mail at REALESTATE@BARNOTT.COM

Just Click  CALCULATOR-  To determine the amount of mortgage you qualify for;  Buy Vs.. Rent analysis; and Loan Estimator.

Just Click  FIND A PROPERTY  and search for NH & VT properties.

6 Steps to a successful purchase

Step #1- Pre-Qualification

Today it is important to pre-approved by a lending institution.  This process means a buyer has at minimum given the lending institution  (1) permission to do a credit report, (2) proof of employment and income, and  (3) a list of all debts.  This information will enable the lending institution to pre-qualify the buyer. This basically determines the amount of money you may use per month for your housing– Mortgage, Taxes, Insurance.  Qualifying also includes the amount of money needed by a buyer to purchase a home.  This will depend upon the mortgage program you choose.

Step #2 Determine  Representation

Under New Hampshire & Vermont Law, before you are shown properties you must choose to (1) use the “Traditional Method” of being a customer or (2) purchase a home using “Buyer Representation”.  Bill will provide complete explanation of both and you can choose which will best serve your interest.

Step #3 Property Search

A buyer is  able to search for a property through the use of Bill’s automatic system which provides a buyer with properties as they come on the market.  As a result, a buyer is not too late to see the property.  

Step #4 Making an Offer

This is the moment when a buyer offers to purchase property at a price and terms acceptable to the buyer & seller.  A good faith deposit usually accompanies the Offer.  Usually the amount is between $500 and $5000 but is negotiable between buyer & seller.  The deposit is returned to the buyer according to the terms of the Contract.

Step #5 Mortgage Application

The buyer will select a Lending Institution ( in all likely hood the institution having given the pre-qualification) which will loan the money.  Initial fee approximately $400. is collected at  application.  During the process of being approved the buyer usually completes all home inspections .  

Step #6 Approval & Closing

In most cases approval of financing occurs 3-5 weeks after application with the transferring of the property to the buyer occurring within 2 weeks following  financing approval.  Closing is the moment when the buyer gets the keys.

Just Click FIND A HOME INSPECTOR  for those licensed to do home inspections in New Hampshire.

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