PREPARING TO BUY A HOME
Are You Looking
For a Lender?
Let us know how we can help you with your mortgage needs. We are focused on only one thing – to help you buy the home of your dreams!
Based on your income, your current debts and estimated down-payment, Chad can usually help you determine the maximum mortgage amount for which you could qualify. You may also reference our mortgage calculator. This process is frequently referred to as a “prequalification analysis”.
Conventional loans (those not backed by a government agency) usually require a minimum down payment of 5%.
FHA mortgages , insured by the Federal Housing Administration, are available for as little as 3.5% down.
VA mortgages, guaranteed by the Department of Veterans Affairs, have a no-down payment option for eligible veterans buying a home.
Contact Chad Aldridge for a specific down-payment requirements and programs for qualified applicants.
Some lenders may provide financing for mobile homes which are not permanently affixed to a foundation. Most lenders will finance double-wide homes that have been permanently affixed to a foundation.
Yes, but some lenders will allow you to complete the application verbally right over the phone. A copy of your application will be provided at the closing, which you will need to review and sign at that time.
Frequently lenders will request: W2’s, paystubs, bank statements, and the purchase contract on the home you are buying. Documentation requests vary by loan type and lender.
No, a homeowner’s inspection is generally requested by the buyer as a condition to the purchase of the home. Many homebuyers, however, will make the purchase of their home contingent upon a homeowner’s inspection. A homeowner’s inspection should not be confused with an appraisal, which is required by most mortgage lenders in order to support the value of the real estate to be used as security for the mortgage.
The decision to use an attorney or not is up to you. In general, real estate attorneys are typically involved in purchase transactions due to the complexity and number of parties involved. Refinance transactions usually do not involve attorneys. In addition, there are many areas of the country where attorneys are not normally involved in any real estate transaction. Your real estate agent and / or lender may be able to provide information on what is typical for your area.
Finding a Home?
What Our Clients Say
We always receive superlative service and attention from our Realtor and the support staff at Aldridge & Southerland Realtors. Always our first choice of realty groups!
Jennifer Bogenn is the best realtor she goes above an beyond
My wife and I worked with Patrick of the Robertson O’Sullivan team to both buy and sell our home in Winterville. We can speak from experience when we say that Patrick genuinely cares about the well-being of his clients. He really took care of us from the beginning of the buying process through the sell of our home while we were relocating. He was never pushy and always willing to explain anything we had questions about. Once we had made our decision, he quickly took care of everything up to closing and communicated very frequently. We would certainly recommend working with Patrick and the Aldridge and Southerland team.
I had a great Experience with Connie Corey as our agent she help me and my fiancé find out first home together. The experience with her surpassed all expectations we saw several houses before we found our house. I was glad that we where able to find our house she didn’t push any house on us and made sure we where comfortable in what we wanted and focused on our needs for the house. She was fast to get us information about the house and get to see the houses we wanted and when it came to the offer she was quick to make sure all the paper work was done so our offer would be seen first. I will definitely be using Aldridge and Southern and Mrs Connie when we decide to buy and sell our house in the future.
Our agent Mike Gemmill went ABOVE and BEYOND with both selling and buying our current home! He is extremely knowledgeable and answered all of our many questions. Our house sold in less than a day, and ABOVE asking price! We couldn’t be happier with Mike’s expertise!
Outstanding Service! Very professional and knowledgeable of the real estate market.
Best team of very professional realtors. Highly recommended and always available to answer questions. Thank you, Sarah Weir!