Benefits
of Home Ownership
Should I buy a home? YES! It's simple!
-
 Mortgage
Interest is tax deductible.
- Real Estate taxes are deductible
- Unlike rent, a portion of every mortgage payment builds
equity.
- Rents may increase, mortgage payments usually do not.
- Home ownership can improve your credit rating.
- Owning a home helps plant roots in a community.
- There is more privacy, a backyard and usually more
space in a home.
- Homes often appreciate in value, This will be your
greatest investment
- Freedom to decorate, organize, entertain and above
all a home offers a quality of life that you deserve!
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What
should I bring for the Mortgage Application?
- Driver's
License and Social Security Card
- Purchase Agreement if available.
- Last two (2) pay stubs
- Last two (2) years of W2's
- Two months Bank Statements (401K, etc.)
- Landlord Name and Address, if renting
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- Legal Documents (Divorce Decree, Judgments,
etc.)
- Name, address and account numbers on all open
accounts.
- Checking and Savings account information.
- Call The Lentz Team for any further information
(888) REO-9404
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1 Call
The Lentz Team to schedule a private appointment
to determine
your needs!(888)
REO-9404 |
2 Michigan
law requires real estate licensees to advise the
potential buyers with whom they work of the nature
of their agency relationship. The Lentz Team hold
Buyer Agency Designations. See “What
is” Pg. |
3 Decide
on a Financial Institution to apply for a mortgage
if necessary. We will be happy to assist you with
recommendations.
However, it’s your choice! |
4 Collect
all the necessary documents for the Loan Application,
see “What Should I Bring for the
Mortgage Application” above. |
5 Let’s
review the Good Faith Estimate of your closing costs
and payment, rate and terms to have a full understanding
of the financial requirements. |
6 Make
a list of the features in a home that you desire
keeping in mind your price and location. The Lentz Team will assist you in prioritizing and searching. |
7 Set an appointment
with The Lentz Team to begin the search of your
home. |
| 8 Once
you have made your selections you may decide to
drive the area of homes to check out schools, parks,
etc. |
9 Your Lender is evaluating your application along
with supporting documentation in order to make a
decision. |
10 Once
you have made your selections, The Lentz Team
will schedule the showings for your personal viewing. |
11 Your Lender
may require additional information throughout this
process, stay calm, The Lentz Team will get you
through it! |
12 After
viewing your selection of homes, if you haven’t
decided, that’s ok, let’s keep searching, no hurry! |
13 The Lentz Team will make sure you understand your options
before you are committed. |
14 Let’s
say you just love a home you have seen with The Lentz Team, Rely on them to make your offer, it’s
best! |
| 15 Sellers
Disclosures and Lead Based Paint Disclosures are
highly important documents. You must review and
sign prior to your purchase offer. |
16 The Lentz Team will
prepare all Purchase Agreement documents required
to present your offer in a professional and timely
manner for the greatest results. |
17 You have the option
in your Purchase Offer to have a private inspection
as part of your due diligence. Please refer to the
“What is” Pg. |
18 Have you requested
the Seller to purchase a Home Warranty for you?
The Lentz Team can show you your options, see
“Glossary of Terms” Pg. |
19 Remove all contingencies
from Purchase Agreement, this may include the sale
of a home, inspection, etc. |
20 Some Cities/Townships
may require a City Certification Inspection….Ask
The Lentz Team, refer to “Community
Links” Pg. |
21 The Lentz Team will make sure contractual obligations
are fulfilled and satisfied. |
| 22 The Lentz Team will make sure the mortgage process is
being completed and approved. |
23 The Lentz Team will make sure Title work is processed
and approved. |
24 The Lentz Team will make sure all contractual processing
deadlines are complete and ready for closing. |
25 The Lentz Team will schedule the final walk through
inspection per contract. |
26 The Lentz Team will help you review and understand all
paperwork prior to closing. |
27 The Lentz Team will help you understand your vacancy
obligations according to sale terms. |
28 The Lentz Team will
help you coordinate key exchange. We recommend you
have the locks of your new home changed upon occupancy. |
| 29 Upon
occupancy you are required to transfer utilities
in your name. DTE (800) 477-4747. Call The Lentz Team with any questions. |
30 WELCOME
HOME!!!
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