Rex Harris

15451 Founders Lane
Apple Valley, MN 55124
Phone: (952) 431-0450
Cell: (612) 750-7074
Email: rex.harris@results.net
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Learn More About Buying A New Home; We Demystify the Mortgage Process for you!

Is this your first time getting a mortgage? Does the home loan process confuse or stress you out? Don't worry - our free "Demystifying The Mortgage Process" eBook is here to help. It's chock-full of jargon-free information on the entire mortgage process, and explains how to shop for a mortgage, the importance of a good credit score, how lenders figure out what you can afford, all the steps of the mortgage process and more. Download it now free.

 


 

First-Time Home Buyer

Being a first-time home buyer can be an exciting but anxious time. Educating and preparing yourself about buying your first home is the best way to calm those nerves. And to do that, you don't have to look any further.

  1. Application: The first step towards being a first-time home buyer is getting your home loan application underway. A great first-time home buyer tip at this stage is to make sure you have your basic personal and financial information at hand when beginning your home loan application. Your credit score, current employment status, debt and long-term financial goals will all be collected and discussed at this point in the mortgage process.
  2. Pre-Approval: Not to be mistaken with a pre-qualification, a home loan pre-approval is a mortgage company's commitment to issue a home loan for a specific property. This will be based off of your employment, credit and debt information.
  3. Processing: This stage in the mortgage process will involve various documents, so please make sure you are prepared and as organized as possible coming into this step for the smoothest and quickest experience. While you may provide documents to your home loan expert at the beginning of mortgage processing, you may also be asked for additional information throughout any time during this stage, depending on your home loan type and financial situation.
  4. Underwriting: During this mortgage process stage, someone known as an "underwriter" will review your application to make sure that your home and property are in good condition and that you'll be able to repay your home loan.
  5. Closing: You, the sellers, your home loan expert and possibly your attorney will decide on a date to close on. At closing, you'll sign many documents, which include your mortgage note and HUD-1 Settlement Statement. Once complete, you'll be handed your keys and will have successfully become a home owner!
 

Appraisals Explained

Your complete guide to the appraisal process.

"Appraisals Explained" outlines the impact of your home’s appraisal, an integral piece of the mortgage process, by providing you with the knowledge to easily review your appraisal report. Download file here.

What Will I Learn?

  • What is an appraisal?
  • How much does an appraisal cost?
  • What is the appraiser's job?
  • How do I obtain my appraisal report?
  • What are the different types of appraisals?
  • How do I read and understand my appraisal?
  • What steps can I take if I’m unsatisfied with the results of my appraisal?

 

Reality Check: Why Home Inspections Matter

One of the best pieces of advice you can heed when it comes to buying a house is to order a home inspection. Regardless of whether you’re a first-time homebuyer or an old pro, you might have on rose-colored glasses when it comes to buying a house – your future home. Luckily, a certified home inspector has no emotional attachment to your new place and can impartially and appropriately identify structural, electrical and plumbing problems. Plus, this person can offer insight into the safety and value of the house.

 

During your home search, you'll probably notice the great front yard, charming breakfast nook and spacious bedrooms. What you won’t notice, however, are the termites in the basement, nests in the chimney or cracks in the foundation. That’s why it’s important to speak with me, Rex Harris, your real estate agent, to recommend inspectors who can reliably and responsibly check the nooks and crannies, walls and roofs.

 

The inspection will cost you several hundred dollars, depending on where you live, but it's a small price to pay to ensure your home is worth the investment. Usually conducted after an offer is accepted, the inspection also provides leverage for negotiating concessions with the seller before the sale is finalized. Based on the inspector’s detailed report, you're able to alert the seller to all issues you’d like fixed or addressed before the sale is closed. In other words, a home inspection allows you to know exactly what you're buying; and if it truly is the perfect place for you.

 

 


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