Financing

Financing Information for Kirkland Home Buyers

Thinking of buying a home? Now is a great time but it still can be expensive. especially if you are not aware and prepared for all the costs. Insurance, titles, taxes, these are only a few of the costs that you may not be aware of.

Here are a few things to keep in mind when planning to buy a home:

Before you even start your search, you should first shop for a mortgage!

This is extremely important especially right now. Lenders are getting more strict with their requirements and by knowing up front how much you can afford, it can save heartache later on when you just can't afford the home you fell in love with. Our Sequim Homes affiliate has a great article on how to get a mortgage.

Mortgage Brokers are a good way to go.

With so many different lenders and mortgages out there, it pays to enlist the help of a mortgage broker. The broker will help you determine the best type of mortgage for you and will shop around on your behalf for the best possible deal. Your broker will protect your interests and sort through the various lender offers. (our St George homes professionals have great articles on home financing.)

Shop around for insurance.

Their fees can be quite high so make sure you carefully review what you are paying for. Home owners insurance can really vary depending on who you go with and how many items you have insured. Also figure out if you want your taxes and insurance built into the cost of the mortage payment each month instead of a large sum due once or twice a year.

Be prepared for the closing costs which can run you a few thousands of dollars.

They can include mortgage insurance, title expenses, lawyers fees, land transfer taxes, property taxes, etc. You should also budget some money for moving expenses, possible storage rental, paint and decoration, etc. These can be built into the cost of the home or you can have the seller pay for them. Ask your agent about all your options.

The last few years have been a seller's market, however the situation is changing and the buyers are once again in the driving seat in many markets. This may translate into some better prices but also potentially better terms. This can be true even in a seller's market if the seller is in a rush to offload the property because of a divorce, death in the family, layoff, etc. In both cases, you may be able to negotiate a better deal.

Because buying a home is such large investment you will want to choose your Kirkland real estate agent and your mortgage broker carefully! These will be your saving forces when it comes to buying AND selling in the Kirkland real estate area. We specialize in helping those in the entire Puget Sound area find and faciliate a real estate transaction with dedication, honesty and hard work. Call us today for help on your next home!