How Trusted Professionals Make Homebuying Easier to Understand

How Trusted Professionals Make Homebuying Easier to Understand | MyKCM

How Trusted Professionals Make Homebuying Easier to Understand

In the spring, many excited buyers get ready to enter the housing market. Others continue dreaming about the homes they’d like to buy. The truth is, many potential buyers continue to dream longer than they need to, simply because they’re confused about the homebuying process. Thankfully, working with a trusted real estate professional can help ease those concerns and make the process to homeownership much easier to understand.

How Trusted Professionals Make Homebuying Easier to Understand | MyKCM

A recent survey conducted by Ipson and Freddie Mac reveals the confidence level of Gen Z and Millennial buyers regarding the homebuying process. The graph below shows the breakdown of the top results, clearly indicating there’s a significant portion of younger buyers who are not yet confident with some of the steps in the homebuying process.Between the homebuying process and the mortgage process, there are 230 possible steps in the transaction. With trusted professionals on your side, you certainly don’t have to know them all to have a successful experience.

There are many reasons why these steps can change as you move through each one. Depending on your personal circumstances, the term or your mortgage, and the type of loan you use, the path you take may need to vary. That’s why guidance and support from the experts is key.

Selecting Your Real Estate Broker

In addition to the process itself, respondents in the survey definitely expressed concerns about understanding the types of loans available. Here are just a few of the basic loans to consider. Be sure to speak with your lender about the specifics of what will work best for you:

  • FHA: Loans guaranteed by the Federal Housing Administration for first-time buyers. They generally enable qualified borrowers to enter the housing market with a lower down payment.
  • Conventional: Loans that usually require a larger down payment. Repeat buyers usually use these types of loans since they have an established credit history as well as more money from the sale of their previous home (called equity) for a bigger down payment.
  • VA: Loans available for Veterans of the U.S. Armed Forces and their spouses. They are guaranteed by the Department of Veteran Affairs.
  • USDA: Loans for those living in rural and suburban areas. A qualified lender can issue a USDA home loan, and they are guaranteed by the United States Department of Agriculture (USDA).

Interest rates also popped up as a common area of confusion among Gen Z and Millennial respondents in the survey. With today’s rates hovering at near historic lows, it’s a fantastic time for buyers to get more house for their money in the current market. Why? When mortgage rates are this low and wages are increasing as they are today, overall affordability increases, enabling home buyers to stretch their mortgage dollars further. It’s just another area where a trusted professional can help simplify the process and give guidance along the way.

Bottom Line

There are many possible steps in a real estate transaction, but they don’t have to be confusing. To understand your best course of action, let’s get together today to ensure you have a trusted advisor who will help you feel confident and informed at every turn.

Ready to get the homebuying process started? Contact one of our trusted professional real estate brokers today to schedule a time for a free buyer consultation. Contact Us

We Are Simply … “The Best!”
Oregon Licensed Brokers

Bledsoe Santana Team Realty LLC

Silverton: 503.874.4666
Keizer: 971-339-5255
Woodburn: 503-446-5411

Published by Bledsoe Santana Team Realty LLC

Oregon Real Estate Brokers with one goal in mind; to provide professional, knowledgable, and ethical services to anyone looking to buy or sell real estate, or needing property management. With three locations in Silverton, Keizer, and Woodburn Oregon, we have knowledge and tools necessary to serve clients throughout the Willamette Valley. Our “Client First” philosophy makes up the cornerstone of our business. At Bledsoe Santana Team Realty LLC, we want to be a warm fire on a cold winter day and are here to serve you throughout the Willamette Valley. We are “Simply the BEST! “B

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