Ownership, Equity,

Stability, and Deductions

Four good reasons. Four easy steps for a great home buying process.

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Own a home

You are investing in an asset. As your investment increases in value, your debt decreases.

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Build Equity

Your asset becomes a means to borrow against. It gives you financial power to make home improvements, pay college tuitions, invest in a vacation home or supplement retirement.

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Stability

Why throw away money in rent when rent cost can go up? A fixed mortgage secures your expected payments.

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Deductions

The Mortgage interest and your property taxes are tax deductible in most states. Points paid, and application and appraisal fees may also be deductible. Consult a tax advisor for further information.

Take steps to buying a home

Schedule a meeting to get prequalified

A pre-approval value is huge. It shows the seller you are qualified – it also sets your budget and can give you an advantage over other buyers. Call today to speak to a Rateplicity rep.

Find a home / Make an Offer

Work with your agent, go shopping for a home and start the processes. Things to look for: Good schools, proximity to your needs. Neighborhood statistics, i.e. Crime rate, property tax, cosmetic and structural and resale.

Apply for a mortgage

Complete your application. Once required documents are received and your financial information collected, the loan is ready to lock-in an interest rate. In most cases an appraisal will be needed, please be aware: THIS IS A COST TO YOU, THE BUYER. An appraisal is necessary to assure the value of the home. When all this is completed, the loan moves to the Underwriting process and more documents may be asked for: This is known as CONDITIONS. If everything is complete and approved, the loan will be CLEAR TO CLOSE.

Close

Closing takes place at a Title company or Lawyers office depending on your state. You will be:

Reviewing final documents
Bringing a cashier check to cover closing costs if needed
Bringing photo id and SS information

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