Buyers Guide

Guide for Buyers

RE/MAX Executive in the Carolinas

Buying A Home

Buying a home is more than just a transaction—it’s a significant investment that can shape your future. While it’s often the largest purchase you’ll ever make, it’s also one of the most rewarding. From the pride of owning your home to potential tax benefits, homeownership offers numerous advantages.

Ready to take the first step? Start with the RE/MAX Executive Homebuyer’s Guide. This comprehensive resource will guide you through every stage of the homebuying journey. Inside, you’ll find essential information, including key terms, important considerations when choosing a home, and a step-by-step checklist to help you make informed decisions.

Trust RE/MAX Executive to help you navigate the path to homeownership with confidence. Download your guide today and take the first step toward finding your dream home.

Learn More

Buying A Home

Buying a home is more than just a transaction—it’s a significant investment that can shape your future. While it’s often the largest purchase you’ll ever make, it’s also one of the most rewarding. From the pride of owning your home to potential tax benefits, homeownership offers numerous advantages.

Ready to take the first step? Start with the RE/MAX Executive Homebuyer’s Guide. This comprehensive resource will guide you through every stage of the homebuying journey. Inside, you’ll find essential information, including key terms, important considerations when choosing a home, and a step-by-step checklist to help you make informed decisions.

Trust RE/MAX Executive to help you navigate the path to homeownership with confidence. Download your guide today and take the first step toward finding your dream home.

Learn More

The Right Agent

Choosing the right agent is essential for a smooth and successful home-buying experience. Working with a RE/MAX Executive agent connects you to current market insights and a broad network of resources to help you find and purchase your dream home. Navigate the complexities of the real estate market, including evolving regulations and paperwork, with ease.. Visit Our Agents page to find a RE/MAX Executive agent near you and make your home-buying journey stress-free and straightforward.
Find an Agent

The Right Agent

Choosing the right agent is essential for a smooth and successful home-buying experience. Working with a RE/MAX Executive agent connects you to current market insights and a broad network of resources to help you find and purchase your dream home. Navigate the complexities of the real estate market, including evolving regulations and paperwork, with ease.. Visit Our Agents page to find a RE/MAX Executive agent near you and make your home-buying journey stress-free and straightforward.
Find an Agent

Preparation

Purchasing a home is one of the most significant financial decisions you’ll make in your lifetime. Proper preparation is crucial to ensure a smooth and successful home-buying experience. Here are some useful tips to help you get ready.

CHECK YOUR CREDIT SCORE:

  • Obtain a Credit Report: You can request a free annual credit report from the three major credit bureaus: Equifax, Experian, and TransUnion.
  • Review for Errors: Ensure there are no discrepancies or errors on your report. If you find any, dispute them immediately.
  • Understand Your Score: A higher credit score can lead to better mortgage rates. If your score isn’t ideal, consider waiting and working on improving it before purchasing.

BUDGETING AND SAVING:

  • Determine Your Budget: Calculate how much home you can afford. Consider all monthly expenses, not just the mortgage.
  • Save for a Down Payment: Aim for a down payment of 20% to avoid private mortgage insurance (PMI). However, there are loan programs available that require less, including loans that offer 100% financing. Working with a professional, you are guided through the prices to ensure you are aware of all the options available..
  • Consider Closing Costs: These are additional fees and can range from 2% to 5% of the home’s purchase price.

DEBT MANAGEMENT:

  • Pay Down Debt: Lenders look at your debt-to-income ratio. Reducing your debt can improve this ratio and your chances of getting a favorable loan.
  • Avoid New Debt: Don’t make large purchases or take on new debt before buying a home. This can impact your credit score and loan approval.

Preparation

Purchasing a home is one of the most significant financial decisions you’ll make in your lifetime. Proper preparation is crucial to ensure a smooth and successful home-buying experience. Here are some useful tips to help you get ready.

CHECK YOUR CREDIT SCORE:

  • Obtain a Credit Report: You can request a free annual credit report from the three major credit bureaus: Equifax, Experian, and TransUnion.
  • Review for Errors: Ensure there are no discrepancies or errors on your report. If you find any, dispute them immediately.
  • Understand Your Score: A higher credit score can lead to better mortgage rates. If your score isn’t ideal, consider waiting and working on improving it before purchasing.

BUDGETING AND SAVING:

  • Determine Your Budget: Calculate how much home you can afford. Consider all monthly expenses, not just the mortgage.
  • Save for a Down Payment: Aim for a down payment of 20% to avoid private mortgage insurance (PMI). However, there are loan programs available that require less, including loans that offer 100% financing. Working with a professional, you are guided through the prices to ensure you are aware of all the options available..
  • Consider Closing Costs: These are additional fees and can range from 2% to 5% of the home’s purchase price.

DEBT MANAGEMENT:

  • Pay Down Debt: Lenders look at your debt-to-income ratio. Reducing your debt can improve this ratio and your chances of getting a favorable loan.
  • Avoid New Debt: Don’t make large purchases or take on new debt before buying a home. This can impact your credit score and loan approval.

Pre-Approval

Generally, it is recommended that you get pre-qualified for a loan before you start viewing homes with the serious intention of buying. The pre-approval process involves meeting with a lender and authorizing them to examine your current financial situation and credit history. On the basis of this examination the lender will provide you with a document that details how much you can borrow to buy a home.

WHAT YOU’LL NEED

  • Last two months of bank statements
  • Last two months of retirement and 401K statements
  • Last 30 days of pay stubs
  • Award letters for Retirement Income, Social Security, Disability Income, and SSI
  • Last two years 1040 Federal Income Tax Returns
  • Last two years of Federal Corporate and/or Partnership Tax Returns
  • Last two years of W-2 forms
  • Copy of Driver’s License
  • For Military: Statement of Service (with reenlist eligibility) and Military ID
  • If you have rental property income, bring a copy of all lease agreements

Pre-Approval

Generally, it is recommended that you get pre-qualified for a loan before you start viewing homes with the serious intention of buying. The pre-approval process involves meeting with a lender and authorizing them to examine your current financial situation and credit history. On the basis of this examination the lender will provide you with a document that details how much you can borrow to buy a home.

WHAT YOU’LL NEED

  • Last two months of bank statements
  • Last two months of retirement and 401K statements
  • Last 30 days of pay stubs
  • Award letters for Retirement Income, Social Security, Disability Income, and SSI
  • Last two years 1040 Federal Income Tax Returns
  • Last two years of Federal Corporate and/or Partnership Tax Returns
  • Last two years of W-2 forms
  • Copy of Driver’s License
  • For Military: Statement of Service (with reenlist eligibility) and Military ID
  • If you have rental property income, bring a copy of all lease agreements

Know Your Credit Score

%

Payment History

%

Amounts You Owe

%

Length of Your Credit History

%

New Credit You Apply For

%

Types of Credit You Use

Home Search

With a pre-approval letter in hand, you can confidently search for homes within your budget. Sellers are more likely to consider offers from pre-approved buyers since there’s a higher likelihood of the sale going through.

  • Location
  • Budget
  • Size & Layout
  • Future Resale Value
  • Age & Condition of the Property
  • Energy Efficiency
  • Local School Districts
  • Property Taxes

  • Homeowners Association (HOA)
  • Future Development
  • Natural Disasters
  • Commute & Transportation
  • Local Amenities
  • Noise & Surroundings
  • Growth Potential

Home Search

With a pre-approval letter in hand, you can confidently search for homes within your budget. Sellers are more likely to consider offers from pre-approved buyers since there’s a higher likelihood of the sale going through.

  • Location
  • Budget
  • Size & Layout
  • Future Resale Value
  • Age & Condition of the Property
  • Energy Efficiency
  • Local School Districts
  • Property Taxes

  • Homeowners Association (HOA)
  • Future Development
  • Natural Disasters
  • Commute & Transportation
  • Local Amenities
  • Noise & Surroundings
  • Growth Potential