Buyer Resources

Springboro Home Buyers FAQ's

Answering Your Springboro Home Buying Questions

Whether you're a first-time buyer or a seasoned pro, purchasing a home is always a big step. While it is exciting, there are also a lot of things to keep in mind, and sometimes the process can get a little overwhelming.

Do you have a few questions about the home-buying process? Check out the most frequently asked questions about buying a home in Springboro, and trust in the expertise of William J. Furlong Realty, your local expert. 

1. Where Should I Start?

Before you start looking for a home, you should make sure your finances are in order. Visiting a lender and getting a mortgage pre-approval will tell you exactly how much the bank will loan you. From there, you can calculate your down payment, and narrow down your search. You can also use handy tools like a mortgage calculator to figure out your expenses!

2. What Should I Look for in a Home?

What you want in a home is completely up to you! If you're not sure what features you want, then you can browse a few of my featured listings to get a spark of inspiration. If you already know exactly what you're looking for, check out this handy search to find homes based on size, price, feature and more. 

Be sure to put some thought into things like how close the home is to your job, if important amenities are nearby, and what school district the home is in. All of this info can help narrow down your search.

3. Why Should I Use a Realtor?

In addition to knowing you'll be in good hands right off the bat, a certified Realtor can help you through every aspect of buying a home. Since I have years of experience in the Springboro area, I'm able to provide in-depth guides to each community in the area. I'll also help with financial questions, confusing paperwork, and breaking down things like different types of mortgage and loans. 

4. Where and How Can I Get a Loan?

You can apply for loans through banks, lenders, and credit unions, and the government can also offer special types of financial aid to qualifying buyers. Your Realtor can recommend their preferred lender in the area, but if you prefer to choose your own, be sure to shop around to find the best rate. 

5. What if I Have Bad Credit or No Down Payment?

If you're financial situation makes you feel uneasy about buying a home, you might qualify for federal mortgage programs or local home buying assistance programs. Organizations like the Federal Housing Administration and Department of Housing and Urban Development can help a variety of issues and needs. If you think you might qualify for home-buying assistance, try looking into one of these organizations.

6. Once I Find My Home, What Will I Have to Pay Up Front?

  • Earnest money: Think of this as your security deposit for home buying. It's the money you put down p front to the seller in order to show that you're serious. After your offer is accepted, it is applied to your down payment or closing costs.
  • Down Payment: A down payment is certain percentage of the total cost of your home, but the amount depends on the price of your home and the loan you get from the bank.
  • Closing Costs: Since buyers don't have as intense of a closing process as sellers, these costs will typically be low. They cover things like lender and paperwork fees.

7. What Other Costs Will I Pay?

Other costs you can expect include HOA fees, condo fees, utilities, and property taxes — but these are typically included in your mortgage payment. If you have any other questions about fees, it's never a bad idea to ask, since certain neighborhoods and homes might have specific costs.

Any Questions?

Just let me know! I'm happy to answer any and all questions you'll have during the process. Contact me today and I'll answer any of your home buying questions about homes for sale and real estate in the many communities of Springboro.

Looking for more info? Learn more about buying a home in Springboro!

Springboro Home Buying Resources

Questions? Just Ask!

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