Condo Search: How to Find the Right Place

For most buyers, before they start viewing properties in person, it is good to know your finances - what can you afford, how your credit score affects your purchasing power, creating a budget and how to save for a down payment. If you are financing your purchase, we will discuss what a lender looks for, what info they will need, the different types of loans, and how to calculate what your payment would be. leo.

Inside the MLS: How It Powers Your Property Search

The MLS plays a crucial role in the real estate market, streamlining transactions and promoting transparency for both agents and consumers. 

Affordability Calculator

Here is a robust affordability calculator to give you an estimate on how much house you can afford. Of course, check with a mortgage loan officer to double check your estimate.

Searching Online

Searching Online

Before you start searching, you should have some idea of what you are looking for. Be sure to read the post on Needs & Wants and download the Needs & Wants worksheet. 

Everything To Know About Your Credit Score

What is a good score? Is there a minimum score? What's the difference between a credit score & a report? All that and more.

Get a Free Credit Report

Authorized by Federal Law, Annual Credit Report.com is the only source https://www.annualcreditreport.com/index.action

Three Major Agencies

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How to fix your credit

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Working with Lenders

Here are several important guidelines for working with lenders. Click on any icon for more details.

Mortgage Loans

Loan Types

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Loan Calculator

Here is a robust mortgage loan calculator to give you an estimate on your payment and let you play with different parameters to see their impact.

Financial Terms

Conventional Loan
A conventional mortgage loan is a traditional type of home loan that is not insured or guaranteed by the government. This means that the lender bears all the risk if the borrower defaults on their payments. Typically, conventional mortgage loans require a down payment of at least 20% of the purchase price, although some lenders may accept a lower down payment in exchange for private mortgage insurance (PMI). Conventional mortgage loans have fixed interest rates and typically have repayment terms of 15 or 30 years. They are offered by banks, credit unions, and other financial institutions, and the borrower's credit score and financial history are important factors in determining eligibility and interest rates. Compared to government-backed loans such as FHA or VA loans, conventional mortgage loans usually have stricter qualification requirements and may have higher interest rates. However, they also offer more flexibility in terms of loan amounts and property types eligible for financing. In summary, a conventional mortgage loan is a common financing option for home purchases that is not backed by the government but instead relies on the borrower's creditworthiness and typically requires a larger down payment compared to other types of home loans.
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8 Step Condo Buying Process

1

The first step in the condo buying process is to get familiar with some key concepts.

2

Money Matters

For any buyer, it is good to get your finances in order and know your buying power.

3

Condo Search

How to find the right place for you. Searching online and off line. Cheat sheets and fun facts too.

4

Fees & Docs

Everything you want to know about condo fees and what to watch for in the condo documents.


5

Offers & Contracts

What you need to know about offers and contracts. Tips, Tricks and Red Flags.

6

Inspections & Appraisals

What to know about home inspections and appraisals. 

7

Settlement

Settlement (aka Closing) is the day you become a home owner. 

8

Moving & Beyond

Make it a smooth move with Moving & Maintenance checklists & more.