So, you think you’re ready to find your new Lennar home in the Portland Metro and SW Washington area, but you still have some questions. Buying a home is kind of a big deal, so we’ve put together a list of frequently asked questions to help guide you through the homebuying process and make your path to homeownership a little smoother.
What’s the first step in the homebuying process?
For most, buying a home is one of the biggest investments they will make in their lifetime, so it’s absolutely important to research, plan financially and make a strategic game plan – all prior to touring the communities, models and floorplans.
How can I determine my affordability?
Lennar makes it easy to know exactly how much you can afford. Afterall, there’s nothing worse than falling in love with a home and then realizing it is out of your price range. Use Lennar’s home affordability calculator for a quick and easy estimate of your purchasing power.
What if I want a more accurate impression?
For a more in-depth impression of your purchasing power, you can talk with a loan officer for pre-qualification. In as little as 15 minutes, you can get pre-qualified with the digital mortgage tool from Eagle Home Mortgage, Lennar’s affiliated lender.
What is pre-qualification?
Pre-qualification is the first step in the mortgage process. A lender will review your finances, which can include income, assets and debts. Afterwards, they will provide you with an estimate of how much money you may be able to borrow. A lender will pre-qualify you based on the information you provide them, so be sure everything is accurate and up to date.
What else can the lender help me with?
Lenders are a great source of information. Ask questions and take this opportunity to better understand how your financial history affects your purchasing power. Lenders can also help you figure out which components of your financial history you can improve and how to work on them.
What main factors influence my loan?
Three things – debt, credit score and down payment.
What’s the next step after pre-qualifying?
Pre-approval – this is a more in-depth review of your credit history and credit worthiness and is completed by an underwriter. This report will give you a more accurate idea of how big of a loan you can take out as well as what home price range you can afford. Once you’ve been pre-approved, you’ll receive a letter to present to a seller when you make an offer – this letter also shows you are a serious buyer with funds to complete a purchase.
Now what?
Get all your ducks in a row! Not just financially, but personally. Are you contemplating a new career? Family? Marriage? Kids? Ask yourself the important questions that will affect this big decision.
I have all my ducks in a row. Can I start my search now?
Yes! And with numerous communities across the Portland Metro Area, Lennar makes it easy to find a home to fall in love with. Whether you are looking for townhomes, single-family homes or a Next Gen® – The Home Within A Home®, they have something for everyone. Plus, Lennar offers great resources with Internet Sales Consultants and New Home Sales Consultants who can answer all your questions about a community, home, floorplan and much more.
Start your search today here!
________________________
DISCLOSURE:
This is not an offer in states where prior registration is required. Void where prohibited by law. Copyright © 2020 Lennar Corporation. Lennar, the Lennar logo, Eagle Home Mortgage, the Eagle logo, Next Gen, and the Next Gen logo are U.S. registered service marks or service marks of Lennar Corporation and/or its subsidiaries. Date 06/20
Mother’s Day is a time to celebrate the moms and mom-figures in our lives. As…
Your dream home awaits at Fox Meadow, located at Reliance and McCutchen Streets in the…
Calling all homebuyers in the Central Valley – soak up the sun and the sales…
Lennar is excited to announce Deerfield is now selling in the vibrant city of Greenwood,…
Cadence, a stunning master-planned community offering single-family home designs starting in the upper $900s in…
If you’re a first-time homebuyer, we know the perfect place to call home! Lennar’s Parkside…