SPECIAL SECTION:
Service Exceeding
Expectations!!!
When purchasing or selling a home in the
current real estate market, it is important
to have confidence in your real estate
professional. My Commitment and over 22
years experience in the North Pittsburgh
Real Estate market can provide you with
the specialized service you deserve.
Mary Ann Brettell
Residential Realtor
Multi Million Dollar Producer
Howard Hanna Real Estate Services
724-452-1100 Office
412-585-2585 Mobile
[email protected]
maryannbrettell.howardhanna.com
Luz Campbell, your real estate expert in Mars.
LUZ
CAMPBELL
REALTOR
“I pride myself on a
thorough understanding
of my clients' needs
and desires, as well as
my ability to make my
clients feel as though
they are my only client.”
COLDWELL BANKER
REAL ESTATE SERVICES
www.luzcampbell.com
724.776.2900 Office
724.713.1462 Cell
34
724.942.0940 TO ADVERTISE
❘
icmags.com
Real Estate
WHAT FIRST-TIME
HOMEBUYERS
SHOULD KNOW
Last year was a great year for new homebuyers.
According to the National Association of Realtors,
about 35 percent of the homebuying market was made
up of first-time buyers. Yet, each year is not created
equally in the mortgage industry and real estate
market. Changes happen frequently and it is often hard
to keep up. If you’re looking to break into real estate
for the first time, here are some insights into how to
navigate the market.
Saving. Step number one for a first-time homebuyer
should always be saving. Take a look at your current
finances. It’s recommended that your mortgage
payment not exceed 30 percent of your gross monthly
income. See where you can cut back spending to put
away a little extra out of your paycheck every month
for your new home. Not only can this cash go toward
a down payment, but most likely you’ll need furniture,
appliances, and decorations to furnish your new home.
Don’t just calculate the amount of money needed for a
down payment. Keep in mind the unforeseen expenses
such as home repairs, agent fees and closing costs. You
can never save too much!
1. Mortgage. Applying for a mortgage can be
an intimidating process, but if you prepare
accordingly, you’ll be happy with the outcome.
According to LendingTree.com, mortgage lenders
are allowing higher debt levels for borrowers with
lower down payments (as little as 3 percent on a
conventional mortgage loan). You may not need
the typical 20 percent down that was required of
homebuyers a few decades ago. If your debt-to-
income ratio is high, you may not have to worry.
Mortgage companies are making it easier for
borrowers with more debt to still qualify.
2. Agent. Having a real estate agent in your corner
for a first-time purchase is key. Agents will not only
help you navigate the home-buying process, but can
also be a valuable resource for an inside look at new
homes that go on the market. This gives buyers the
opportunity to view homes that may not have made
it onto real estate websites for public viewing.
3. Location. Your dream house may not be in your
dream location, and your dream location may not
Continued on page 36 >