First Time Buyers
Steps to Buying Your First Home
If you ever have any questions about buying a home in Chattanooga, please give me a call at (423) 756-0771.
When you're buying a home, you're not simply looking for a house to live in — you're choosing a community to join. Where you live shapes your life, which is why it's important to research different communities in your area. That's where I come in. Feel free to browse my Chattanooga community area guides to get an idea of what it's like to live in this wonderful city. Have any questions about a particular community? Please don't hesitate to give me a call.
Local Area Guides
Before you begin looking for a home in your target area, I recommend sitting down with a local lender to get pre-approved for a mortgage. During the pre-approval process, the lender will review every aspect of your finances. They'll take a close look at your annual income, credit score, borrowing history, and any outstanding debts you have to determine exactly how much the bank is willing to lend you.
Speak to at least two lenders before deciding one one but there you go! Your budget is set.
Costs to Buying a Home
Here are some of the other costs and fees associated with buying a home.
Down Payment — In a typical mortgage, the down payment is around 20% of the overall cost of your home. If you can afford to pay more, this will lower your monthly mortgage payments.
Earnest Money — When you're serious about buying a home, you deposit a certain amount of money with the homeowner. Sellers will rarely accept an offer on a home without earnest money. If you end up buying the home, the earnest money goes towards your down payment and closing costs.
Home Inspection — Before closing on a home, it's important to have it inspected by a professional. This way, you'll be able to spot any last-minute issues that could affect the overall quality of your home. A typical home inspection can cost anywhere between $300 and $500.
Closing Costs — There are just a few more people to pay before the home is finally yours! These include real estate attorney fees, taxes, title expenses, and the cost to process your mortgage. Closing costs may end up totaling 2-5% of your home's cost.
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Whether you're looking for a stylish condo in the heart of Downtown Chattanooga or a spacious single family home on Lookout Mountain, you'll find plenty of real estate options in the Chattanooga area. Begin your home search below.
Additional Home Buying Resources
As your Chattanooga area expert, I have the resources and experience to help you find your dream home. When you choose to work with me, Julie Fisher, you're enlisting the help of a professional who will save you time, money, and more than a few headaches. Contact me today to get started.