Selecting A Real Estate Agent For First Time Home Buyers

This Article Is About Selecting A Real Estate Agent For First Time Home Buyers 

Hiring the right real estate agent is one of the most important factors in the home buying process. The real estate agent should not just have years of professional experience but should know the ins and outs of the area where you are shopping for a home. The real estate agent should know everything about the school districts, government services, local politics, politicians, parks, activities for children, and other amenities of the area as well as the cons. In this article, we will discuss and cover how to select the right real estate agent.

Home Buying Process Should Not Be Stressful Or Difficult: It Should Be Fun And Exciting

Selecting A Real Estate Agent For First Time Home Buyers should not be stressful or difficult. Selecting A Real Estate Agent For First Time Home Buyers is important in a sense that the realtor and the home buyers need to get along and buyers need to feel comfortable. All realtors are not created equal. Many realtors work part-time. Some real estate agents prefer to work with seasoned home buyers so they do not have to hold their hands. Yet, there are other realtors who have banker hours, and takes them a few days to get back to their clients.

Helping First Time Home Buyers

Selecting A Real Estate Agent For First Time Home Buyers:

First time home buyers should interview several realtors before choosing which realtor they want to represent them. There are many real estate agents that specialize in helping first-time homebuyers realize their American dream of home ownership become a reality. There are realtors that are Accredited Buyer’s representatives. What is a Buyer’s Representative?  An Accredited Buyer’s Representative acts as an advocate for the buyer, protecting their best legal and personal interests throughout the real estate transaction process.

Home Buyers With Bad Credit

Many realtors specialize in working with home buyers who first time home buyers, by educating them throughout the home buying and mortgage process and helping them achieve their dreams come true!!!

Expert Sellers Agent

Sellers have realtors working hard representing them so why can’t home buyers have real estate agents represent them? There are many talented experienced real estate agents who specialize in being home buyer’s representatives represent home buyers.

Certified Distressed Property Expert

Certified Distressed Property Expert

There are many experienced real estate agents that deal with distressed properties. There are many real estate agents who always take pride in the service and commitment to their clients. Many first-time homebuyers become lifelong family friends with their realtors and receive the benefit of inheriting a real estate expert to be part of their family.

Foreclosure And Short Sale Expert

In the past four years, and with today’s economic troubles, many realtors are helping more and more families avoid foreclosure whenever possible. Realtors do this by specializing in short sales and getting their certification as a Certified Distressed Property Expert. Many real estate agents share what they have mastered with their extensive training.

Some receive advanced training and get designation called the CDPE:  

  • Certified Distressed Property Expert

Selecting A Real Estate Agent For First Time Home Buyers: CDPE Certification For Real Estate Agents

As a CDPE, she is a master and expert in helping at-risk families avoid foreclosure and preserve their financial futures as much as possible. There are currently over 1 million licensed Realtors in the United States. Less than 41,000 have earned this prestigious specialized designation!  Many real estate agents believe their clients deserve more and get as much knowledge and training as possible. There are many devoted realtors who study and research the latest market news on real estate and mortgage financing. Being armed with the prestigious CDPE designation, many realtors are prepared to help families under distress solve the foreclosure crisis one family at a time.

Selecting A Real Estate Agent For First Time Home Buyers Who Know Specialty Mortgage Lenders

Another great benefit that you get by working with top producing real estate agents is that they have extremely close relationships with specialty lenders.

Many realtors will qualify homebuyers with lenders that specialize in the following:

  • Credit scores as low as 500 FICO
  • To qualify for 3.5% down payment FHA Loan, need 580 credit scores
  • Credit scores between 500 and 579, need a 10% down payment
  • Home buyers can qualify for a mortgage with prior bankruptcy and foreclosures but to meet minimum waiting period
  • There is a two year waiting period on FHA Loans after the discharge of Chapter 7 bankruptcy
  • Three years waiting period after the recording date of foreclosure and/or deed in lieu of foreclosure, and/or short sale
  • Open collections, late payments, charge offs, judgments, and tax liens do not have to be paid with lenders with no overlays
  • High debt to income ratio
  • Most lenders with overlays have a cap of 45% debt to income ratio
  • However, many real estate agents have access to lenders that can cap the debt to income ratio up to 56.9%
  • Bank statement mortgage loans for self employed individuals.
  • Homebuyers on a fixed income such as social security, disability, and pension income
  • Home buyers with little or bad credit and no credit tradelines
  • 85% Loan to Value Jumbo Loans
  • Condotel Financing
  • 24-hour underwriting and 2-week closings

Gustan Cho Associates has immediate pre-approvals and credit counseling 7 days per week.

Selecting A Real Estate Agent For First Time Home Buyers: Renting Versus Buying

Renting Versus Buying

There are so many benefits of being a homeowner versus a renter

  • Are you a renter? 
  • Do you want to know if you qualify for a home? 
  • If you have income, you will qualify. 

 The Team at Gustan Cho Associates Mortgage Group is available 7 days per week, including weekends.  

Karry Razik And Dale Elenteny Team

Karry Razik is a veteran licensed realtor in Illinois. He is an expert with working with first time home buyers. Karry Razik is one of our expert real estate consultants at Gustan Cho Associates. Mr. Razik has a five-star reputation by his clients and loan officers for always going above and beyond. He is always eager to help our borrowers in educating them with tips and advice on buying their first home. He knows the Chicagoland area more than any other realtor. First Time Home Buyers will be in great hands with Karry Razik. Mr. Razik is an associate of Remax First Service- Orland Park. He can be reached at 708-227-4870. Dale Elenteny is a Senior Mortgage Adviser with Gustan Cho Associates. Dale brings more than 30 years of mortgage experience. Dale and Karry are a team and are experts in helping renters realize the dream of home ownership become a reality. Stay tuned for more video/blog by The Razik/Elenteny Team.

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