Homes-By-Holmes Real Estate  
19 Main Street
Franklinton, NC 27525
919.422.7630

 

First Time Buyers
First-time Home buyers

We will . . .

> Work at no cost to you!
> Provide detailed listing information not available to the general public.
> Negotiate the deal to save you money.
> Guide you through the avalanche of paperwork.
> Commit our time and energy to finding you the right home.

Your decision to buy a home is both a sound financial decision and a commendable achievement. As your real estate agent . . .

  • We will lead you through every step of the exciting home buying process.
  • We will help you define your "wish list" of features you want in your home, your neighborhood and your school district.
     
  • We will walk you through the mind-boggling financial details associated with buying a home, including understanding the various mortgages and home buying programs available to you.
     
  • We will monitor all new listings and alert you to new houses as soon as they are put on the market.
     
  • We will eliminate the stress involved with buying a home by putting our years of real estate experience to work for you.

Finding the perfect home is our business. Contact us today! (919)422-7630

Here are the questions that each home buyer should ask:

  • How much cash is available for a down payment? The amount you have available for a down payment will affect what types of loans for which you can qualify.
  • Am I ready to write a check for the earnest money? Earnest money is a cash deposit made to a home seller to secure an offer to buy the property. This amount is often forfeited if the buyer decides to withdraw his offer.
  • How much additional cash will be available to pay for closing costs? There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and the seller, as spelled out in the sales contract. 
  • What is the maximum monthly mortgage payment that I can afford? Most lenders will use the 28/36 rule to determine the maximum mortgage payment you can afford.

The 28/36 Rule
No more than 28% of your gross income can be applied to your mortgage, real estate taxes and insurance. And no more than 36% of your gross income can be applied to your mortgage expenses plus your regular debt expenses (car payments, credit cards, other loans, etc.).