Realizing the dream of buying a house (1)

Realizing the dream of buying a house (1) For new immigrants, buying a house is one step towards realizing the American dream. When you consider buying a house, here are the following points for your reference. 1…

Realizing the dream of buying a house (1) For new immigrants, buying a house is one of the steps to realize the American dream. When you consider buying a house, the following points are provided for your reference. 1. Understand the price of a house you can afford, such as: how much down payment you have, and how much housing loan you can afford each month. If you can obtain proof that the bank is willing to approve the loan (Pre-qualified or Pre-approved), it will be of great help to the smooth purchase of a house. The difference between Pre-qualified and Pre-approved is: the former is just a rough assessment by the lending bank of your basic personal information such as income, assets and liabilities to let you know how much money you can borrow; the latter is a formal loan application. The bank further relies on the provided documentary evidence, such as tax returns, salary slips, bank statements, etc., and checks your financial background to let you know the maximum amount of money the bank is willing to lend you. If you can get a Pre-approved certificate from the bank, it is certainly better than Pre-qualified. 2. Be clear about your rights in the process of buying a house. For example: The law stipulates that everyone has the equal right to buy a house and should not be affected by factors such as race, color, nationality, creed, gender, family status, disability, etc.; Practitioners in real estate transaction-related industries (Real estate settlement services) are not allowed to charge referral fees or kickbacks from each other, because this may increase the cost you pay; it also includes the documents you should receive when buying a house, the fees incurred, and the lender. Due rights, etc., it is strongly recommended that you choose a full-time, professional real estate agent to check your rights and provide consultation at the same time. Life is beautiful because of dreams, but to build a solid dream, before you start looking for your ideal house, you must at least understand what price of a house you can afford, so that you will not feel disappointed because you cannot get a loan after you find your dream house. We will continue to explain in next week's column. If you have any questions about real estate, please call my hotline (480) 612-4545 or email to Rich@RichLiao.com.