Buying a starter home is an exciting job. You experience the adventure for the first time so it is all still a little awkward.
Are you going to look at houses on the internet? First check how much you can borrow for your mortgage, with my smart tool. You enter your income and your expenses such as the student loan or credit card. Then a number comes out. This is the maximum amount that you can borrow for your starter home. Tip: set a lower amount as a maximum, because overbidding is now the rule rather than the exception. With the Hilton Head Island SC homes you can have the best choices now.
What kind of house do you want? And what do you want in your house? For example, you can buy new construction or existing construction. Is a large garden a must or a separate toilet? Make a list. With this you can go hunting. Don’t feel like searching yourself? Then you can call a broker. It costs a bit of money, but it makes buying a starter home easier.
The large area on your starter home
Do you have a house in sight? It is time to come up with a good offer. I can help you with this. Tip: schedule an inventory interview in advance, then you know for sure what you can offer and you increase your chances because you may have arranged the mortgage quickly if your offer is accepted.
Getting to know each-other
Have you made an offer? Then let’s call about the money. You talk to one of my advisors about your mortgage. For example, how you want to pay off and whether you intend to renovate.
One of the documents that the bank wants to see is an appraisal report. Then we schedule a second appointment. You fill in a questionnaire in a handy dashboard and during the interview you and the adviser chart your mortgage. We also take a look at the provisional purchase contract. Then you upload a number of documents that the bank wants.
The final sprint
They arrange everything with the bank and you get a quote. Does it look good? In that case, the mortgage can pass through the notary. You can also get the notary through professionals. You sign for the mortgage and the house. The notary gives you the keys, you can start packing.
Borrow with a gift agreement
Your parents can also give you an annual tax-free amount: 5,320 dollars. Suppose you agree that they will lend you a ton, then you will not lose more than 5,000 dollars in interest annually. If the bank has black and white that you get this back then they do not see this loan as a debt which means that you have to lower your maximum mortgage.
Calculate how much you can borrow
Buying a house as a student is therefore possible. Do you want to know how much you can borrow yourself without the help of your parents? Then use the tool and you will have an overview within 2 minutes.
Rent from your parents
Nowadays, this limit is being pushed up a little every year because the housing market is currently very busy, which has resulted in higher prices. In 2019, the cost limit for obtaining NHG was set at 290,000 dollars.