01

How do I get started, when I want to buy a house?

While this can be an overwhelming process. The first step is to Call The 2 B’s. We will set up a buyers consultation meeting and get you on the right track to begin the journey. We are here each step of the way to guide you, educate you, and help you find your dream home!

02

Why work with Life Changes Realty Group?

Besides the obvious years of experience, education, specializations, excellent communication, negotiation skills, and client focused attitude, Life Changes Realty Group is one of a kind in this industry. We are small but mighty and we stand out with our Pay It Forward Program. Check out the Pay it Forward tab on our website or ask us how we have donated over $830,000 back to our community in the past 11 years.

03

What is an escalation clause?

Escalation clauses automatically increase your offer if competing bids emerge, ensuring you stay competitive.Your offer includes a base price and a specified increment to automatically outbid others, but only up to your maximum limit.

04

What is equity, and how do I find out the amount of equity in my home?

It's the difference between your home's value and remaining mortgage balance – a powerful wealth-building tool! Equity grows as you pay down the mortgage and the home appreciates, offering financial flexibility, investment potential, and a pathway to achieve your dreams.

05

Can my realtor help me with new construction?

Yes, we can still be your realtors through the new construction process. In fact, WE LOVE IT! We are here to make sure that you don't get overwhelemed when designing your dream home. We are here to help you do the research on the builders. We are here for it all!

06

Who helps you in a real estate transaction?

Involved in the purchase or sale of your home are real estate agents, loan officers/mortgage lenders, a title agent, the home inspector, the appraiser, and the insurance agent.

07

When is the best time to buy a house?

While spring is traditionally busy, it's not a one-size-fits-all answer. Factors like market conditions, inventory, and personal circumstances play a crucial role. It is important to talk to a real estate agent to better understand the current market and how timing will work in your favor based on your specific circumstances.

08

Can we help you buy a home that is For Sale By Owner (FSBO)?

Yes, a realtor can assist you in purchasing a home that is listed for sale by owner. There are several benefits to having your own representation such as expertise and guidance through the process, market knowledge, negotiations, resources, and legal protection. In summary, while buying a FSBO home without a realtor is possible, having a realtor on your side can provide peace of mind, save time, and potentially save money by ensuring that your interests are protected throughout the buying process.

09

How can I prepare in a competitive market?

Preparation is key to increasing your chances of successfully buying a home in a competitive market. Here are some tips for preparing:

Get pre-approved for a mortgage

Define your priorities and limits

Call a local realtor like The 2 B’s

Be flexible with your timeline

Stay updated with listings and what is hitting the market

Allow your agent to help you prepare a strong offer

Consider waiving contingencies

Stay positive and patient.

10

How do I boost my home's value?

Renovate kitchens and bathrooms, enhance curb appeal, and keep it well-maintained. Stay on top of repairs, so that if you need to sell quickly, your home can be listed weeks earlier for the best possible price.

11

What is a short sale?

A short sale occurs when a homeowner sells their property for less than what's owed on the mortgage. Homeowners may choose this route to avoid foreclosure, credit impact, and legal hassles.

12

What credit score do I need in order to qualify for a loan?

Most lenders look for a credit score of 620 or higher. The higher the score, the better the terms you can secure. For FHA loans, a score around 580 might be acceptable, but higher scores generally lead to better rates. Conventional loans usually require higher scores, often starting around 660-680 for competitive rates. Jumbo loans (large amounts) may need even higher scores, typically 700 and above. Remember, your credit score isn't the only factor. Lenders consider your entire financial picture. If your score isn't where you want it, focus on improving it over time.

13

What is a pre-approval?

A pre-approval is an important step in the home buying process that helps you understand your borrowing capacity and demonstrates to sellers that you’re financially capable of purchasing their property. This is a preliminary evaluation conducted by a lender to determine if you qualify for a mortgage loan. It typically involves an application, documentation, credit check, evaluation, and the issuing of a letter for the buyers to begin house hunting.

14

Can we help you buy an investment property?

Yes we can help you buy an investment property and we LOVE to help those just starting out or those building their portfolio.Working with a realtor can provide valuable expertise, market knowledge, and resources to help you make informed decisions and achieve your investment goals.

15

What is a Comprehensive Market Analysis (CMA)?

It's a detailed evaluation of your property's value based on similar properties in the market. It's like having a compass that guides you to the right price for a successful sale.  CMA helps you understand the current market trends and pricing dynamics, ensuring you don't underprice or overprice your home. By pricing your home competitively, you'll capture the attention of interested buyers and increase your chances of receiving strong offers. A CMA equips you with data-driven insights, empowering you to negotiate effectively and achieve favorable terms in the selling process.

16

What is a 2:1 buydown?

A 2/1 buydown, also known as a temporary buydown or temporary interest rate buy down, is a mortgage financing option where the borrower pays an upfront fee to temporarily reduce the interest rate on their mortgage loan for the initial years of the loan term. There are tons of options out there that your realtor and lender can discuss with you to find the best choice for you to buy in whatever market we are in.

17

How much money do I need to buy a house?

The amount of money you need to buy a house can vary based on several factors, including the purchase price of the home, the type of mortgage loan you choose, the down payment amount, closing costs, and other expenses. Be sure to discuss all of the potential costs with your realtor and lender so you are prepared to begin searching for a home.

18

What are some of the monthly costs as a homeowner?

Your monthly mortgage payment, property taxes, homeowners insurance, home maintenance, and utilities generally make up the monthly costs of being a homeowner. While some months may cost more than others in the maintenance department, it's important to plan ahead to ensure that you are purchasing a house within a reasonable rate of what you can afford to both mortgage AND maintain.

19

What is PMI?

PMI stands for Private Mortgage Insurance, which is typically required when a homebuyer puts down less than 20% on their home purchase. This insurance protects the lender in case the borrower defaults on their loan.

20

Do I need a 20% down payment to buy a house?

No, you do not necessarily need 20% down to buy a home. While a 20% down payment is often recommended to avoid private mortgage insurance (PMI) and secure better loan terms, there are various options available that allow for lower down payments. From FHA loans to Downpayment Assistance Programs, we can help you partner with lenders that can give you great alternative options, outside of the 20% downpayment that you may have heard of. Let's chat!