Homebuyer Guide. Coldwell Banker. RIVIERA REALTY, INC

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1 Coldwell Banker Homebuyer Guide INC

2 Finding and Financing A Home Made Simple Buying Your New Home When using a Coldwell Banker Riviera Realty Sales Associate, you can be confident your search for a new home will be successful.

3 The Financing Process Determine your budget and how much you can afford. Get pre-approved for a mortgage. Gather the documents you ll most likely need. Two most recent pay stubs. W-2 forms for the past two years. Federal tax returns for the past two years. Last two months bank statements. Long-term debt information such as credit cards, auto loans etc.

4 Getting Approved A lender will check your credit to see if you re a good candidate for a loan. We can even recommend a lender. If your credit rating is poor, there are things you can do to improve it. Make sure the report is correct. If not, call to fix it. Begin to pay your bills on time. Use two to four credit cards so you can keep track of them. Keep a separate checking and savings account. Keep the same job for a few years

5 Pre-Approved vs. Pre-Qualified Pre-Approved: confirmation the lender will give you a commitment to support your purchase. Pre-Qualified: an estimate of what you can afford. Being pre-approved makes you a more attractive candidate to the seller when making an offer.

6 Deciding On A Mortgage Fixed Rate Mortgage: The interest rate stays the same for the entire term of the loan. Adjustable Rate Mortgage: The interest rate is linked to a financial index and may fluctuate with market conditions. As such, payments may vary over the life of the loan.

7 Calculating Your Budget To estimate your budget, add up your total financial worth and then subtract all the cost in the purchase. Some expenses you may carry: Down payment Mortgage Insurance Taxes Points Attorney s fees

8 The Fun Begins Things to consider: Size of property Type of neighborhood you desire Quality of school system Nearby public transportation Urban or suburban

9 ENTER YOUR COMPANY DBA HERE Multiple Listings, Open Houses & Special Features Your Coldwell Banker Riviera Realty Sales Associate, can show you every home available on the market that meets your specific needs.

10 Online Access coldwellbanker.com provides access to over 2 million properties. You can also find properties on your smart phone or ipad via our mobile site or apps RivieraRealty.com offers an Interactive map search for All properties available in two Multiple Listing Services for Ocean & Monmouth Counties.

11 Online Resources coldwellbanker.com Home File: Quickly and easily save listings, get alerts, run automated searches, and more. The Learn Section: Helpful articles, tips and tools for buyers such as guidelines for inspections and home maintenance costs. Neighborhood Information: Learn the details of any neighborhood that interests you

12 Writing the Offer Once you ve found the perfect home, we will write up the offer and ensure all paperwork and activities are completed so you can close on your property.

13 The Closing This is the meeting where the transaction is finalized. Your Coldwell Banker Riviera Realty Associate will guide you through all closing procedures to make your home officially yours.

14 Enjoy Your New Home

15 2013 Coldwell Banker Real Estate LLC. A Realogy Company. All Rights Reserved. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. Each agent and broker is responsible for complying with any consumer disclosure laws or regulations.