| When purchasing a home in Arizona, there are | | | | |
| several factors to consider. The first thing | | | | Once you have found your home, your Realtor |
| you want to do when purchasing a home in | | | | will walk you through every step of the |
| Arizona is to get pre-qualified for a loan so | | | | purchase contract. That is what you hired |
| that you know your price range. You will want | | | | them for, however, the seller pays the buying |
| to analyze your finances and determine how | | | | Realtor in most cases in Arizona so you get |
| much you can afford towards a monthly | | | | representation paid for by the seller. When |
| mortgage payment each month by looking at | | | | you sell your home you will have to pay both |
| your current bills, and your income. A lender | | | | the buying and selling Realtors. |
| is going to analyze your debt to income | | | | |
| ratio. If you have bills (without a mortgage | | | | Other factors to consider when purchasing a |
| or rent payment) of one thousand dollars a | | | | home in Arizona is insurance, home |
| month and you make three thousand dollars a | | | | inspectors, and termite inspectors. It may be |
| month, that would be a relatively good ratio. | | | | a good idea to use the current carrier of |
| Basically, the lender wants to make sure you | | | | your car insurance when talking about |
| can afford your monthly mortgage payment. | | | | obtaining home owners insurance. This may |
| They will also look at your work history, | | | | save your money since you have already |
| credit score, and bank statements to verify | | | | established a relationship with your |
| the things you say. | | | | insurance company, and a multi-plan policy. |
| | | | If you have car and life insurance, you will |
| Once you have determined how much you qualify | | | | probably get a good rate with the company |
| for, it is now time to find a Realtor to | | | | that hold your current insurance needs. It |
| represent your best interest. Make sure that | | | | may be a good idea to shop the rate just in |
| your agent has good experience, good work | | | | case another company can beat the rate that |
| history, good education, and references. The | | | | you have with your current carrier. Make sure |
| difference between a good Realtor and a bad | | | | that when you purchase a home to get a home |
| Realtor may cost you thousands of dollars. It | | | | inspection. If you do not know any home |
| is imperative to make sure you choose someone | | | | inspectors, your Realtor should have one in |
| who knows the area, and knows the market | | | | mind. Most lenders also require that you get |
| conditions. | | | | a termite inspection because a lender will |
| | | | not fund a loan if the home has termites. It |
| After you have chosen your Realtor, it is now | | | | is usually required that a termite inspection |
| time to start looking for some homes. Just | | | | is done, and is definitely recommended to get |
| tell your Realtor what you are looking in | | | | one. If the home has termites, you can |
| your price range, and they will pull up all | | | | usually ask the seller to treat the termites |
| the homes available in your search criteria. | | | | so that by the time you move in, they have |
| Tell them what is important to you such as | | | | been eliminated. After the lender sees proof |
| school district, zip code, price, and square | | | | that the termites have been treated, you can |
| footage just to name a few. You may want a | | | | move forward. Do not be scared of termites, |
| pool, you may not. Tell your Realtor anything | | | | they are extremely common in Arizona and must |
| and everything that you are looking for in a | | | | be dealt with swiftly so that no damage is |
| home. They will help you find it as long is | | | | caused. |
| it is in your price range. | | | | |