First Time Home Buyers

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Buying Your First Home? Real Estate Agents Are Your Professional Guides. Make Sure You Choose a Top Expert. 

You might be a bit afraid or intimidated by the whole process of buying your first home. As top Paradise Valley, Scottsdale and Northeast Phoenix real estate experts, it's our job to guide you, from beginning to end. 

We will take the time to go through each and every step of the buying process. There are no dumb questions! 

Together, we will consider: 

- How much can you really afford? 

- How to qualify for a mortgage. 

- How much cash you should put down. 

- How to buy a home with little or nothing down. 

- What it takes to get approved for financing. What banks and other financial institutions are looking for. 

- How much your payments will be. 

- The tax advantages of buying. 

- Is renting or buying better for you? 

Tell us a bit about your situation below. We'll get right back to you. There is absolutely no charge, and we offer this to you with no strings attached. 

New to the home buying process? Tell us your concerns. Ask us questions. It's our job to help! There's no obligation, and we promise to get back to you quickly... 

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Real Estate Tips

First Time Buyers >Affording A Home

Are you getting ready to buy your first home? It is important to know how much you can afford before you begin looking at properties. Talking with a lender and getting pre-approved for a loan puts you in a stronger negotiating position with sellers.

As a rule, your monthly housing costs should not exceed 28% of your monthly pre-tax income. These costs include the mortgage payment, real estate taxes, and insurance. If you have long-term debts, such as student loans or car payments, your monthly payments, including your housing costs, should be less than 36% of your pre-tax monthly income. Some loans, such as VA and FHA loans, are more flexible with these basic guidelines.

Depending on which type of mortgage you select, you can consider houses in various price ranges. An adjustable-rate mortgage will usually enable you to qualify for a higher loan amount. Your real estate agent can help you make the basic calculations. Remember that buying at the top end of your price range gives you more time to outgrow your home, and can save you money over the long term.

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Real Estate Trivia

Q 
Who is "Freddie Mac", and why is he a big name in real estate?

A 
"Freddie Mac" is the nickname for FHLMC, the Federal Home Loan Mortgage Corporation, which buys mortgages from lending agencies, thus allowing lenders to continually replenish funds for new mortgage loans.
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BJ and Chris Cole, REALTORŪ, real estate agent and broker for Paradise Valley, Scottsdale, Arcadia, Biltmore and Fountain Hills, Arizona home listings, property and land for sale - NUMBER1EXPERT

BJ Cole, Associate Broker, ABR
Realty ONE Group

7975 N Hayden Rd, Suite A-101
Scottsdale, AZ 85258
BJ Cole: (602) 510-7478
Fax: (480) 368-5140
bj@coleteam.net

We specialize in making the process of buying or selling your home as easy as possible. Together we have sold over $400 million in real estate, taken part in over $6.5 billion in luxury property transactions including appraisals, and understand what it takes to follow through to complete your sale/purchase. We excel in personalized customer service and follow through.


Chris Cole
Realty ONE Group

9366 East Raintree Dr, Suite 101
Scottsdale, AZ 85260
Chris Cole: (602) 510-7286
Fax: (480) 368-5140
chris@coleteam.net
BJ and Chris Cole, REALTORŪ, real estate agent and broker for Paradise Valley, Scottsdale, Arcadia, Biltmore and Fountain Hills, Arizona home listings, property and land for sale - NUMBER1EXPERT

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Paradise Valley, Scottsdale, Arcadia, Biltmore and Fountain Hills, Arizona

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