The moment you decide to buy a home, lots of questions start flooding your mind. There are many things to explore, many questions to answer, and many people to meet. For first-time homebuyers, it is a road to a new journey. Well, we have shared lots of tips, faqs, processes with you. All those are good enough to give you a fair idea of what your home Buying journey may look like. However, you must know about the professionals involved in a smooth home buying process. Team Drew Mortgage, being the best mortgage company, often comes across clients who are unaware of the basic home buying terminologies. So, we decided to summarize all the professions related to home buying in this blog. Let’s dive deeper and understand them one by one.
Real Estate Agents
If you are actively looking for a home, you’d already know about this profession. Most first-time homebuyers programs MA are proposed to people who prefer starting their home buying journey under the guidance of skilled & experienced Real Estate Agents. They are licensed professionals who help their clients make informed and wise decisions when buying or selling. They act as an intermediary between the buying and selling parties. They typically charge some percentage of the final sale price as their fees. In many cases, both parties have one single real estate agent to guide the home transactions effectively.
Mortgage Lenders & Brokers
Mortgage Lenders provide mortgage loans to home buyers as per the pre-determined borrowing guidelines. They require details about your mortgage application to analyze your probable terms, interest rate, repayment schedule, and lots more. Whereas, Mortgage Brokers help home buyers to find the best mortgage plan for their financial needs. They often thoroughly analyze your financial background, credit score, and lots more. They often ask applicants to share essential documents for underwriting and approval purposes. Drew Mortgage, mortgage lenders in Massachusetts are comprehensive mortgage planners. Our home loan officers are always ready to help you with mortgage solutions and support your financial goals.
Home Inspector performs an inspection of the home interiors, exteriors, cooling, heating, electric connections, plumbing fixtures, and more. It is always an excellent option to get your home inspection done (especially if it’s an old or used property). By doing this, you can save lots of time and money in the near future. Keep in mind, such inspections by home inspectors are based on visual observations. You may still get stuck if the problem is major and internal. Such issues are often not detected during inspection. So, a home inspector can help you make a wise decision.
At times, you may fall in love with a house. However, a high price is creating a hurdle in your home buying process. A home appraiser can help you access the appropriate value of a home. Their services include visual inspection of the interior and exterior of the home. Also, a home appraiser helps home buyers understand the market condition and similar properties in nearby areas. In this case, a borrower pays for the appraisal of their home, and the cost can be included in their cost to consider when planning for purchase or refinance.
Lawyers & Notaries
In most places, a real estate lawyer acts on your behalf to check the purchase agreement. It is crucial to get everything checked with the lawyer before submitting an offer. You can also ask your lawyer to arrange title insurance, check property taxes are all settled, assist with mortgage company documents and ensure everything is in order, right from legal to financial conditions. A notary performs title search, ensures all the property tax is clear, reviews the purchase documents, and check facilities given by mortgage lenders ( in case mortgage loan is required for home purchase)
We hope you are now clear with the list of professionals you are most likely to connect with during your home buying process. Talk to these professionals freely to get a better understanding of everyone’s role in making your home buying experience bliss. At Drew Mortgage, our home loan officers are trained to help you apply, qualify for a mortgage loan that suits your financial requirements perfectly. Get in touch with our team to consult today!
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