Whether you're a first-time home buyer or an experienced real estate investor, it's always a good idea to brush up on your real estate know-how before you begin your home search. This will ensure that you are an informed buyer, prepared with the local Piqua, Ohio area knowledge, and equipped with the tools to make a confident home buying decision.
Kathy Henne Has Answers!
Where Should I Start the Process?
Organize and review your finances. Set a budget and figure out what you will be able to afford for a down payment. Use our handy mortgage calculator to see what a monthly mortgage payment might look like for you.
Start exploring the many communities in and around Piqua, Ohio to see which might be best for you.
If you're a first-time buyer, you might want to get more information first!
How Do I Know What to Look for in a Home?
This is completely up to you! Take time to decide on some non-negotiables—things you aren’t willing to settle on in your new home. This will help your Realtor narrow their search.
Think about what’s important to you in terms of location—proximity to amenities, school districts, commute, highway access, etc. Having a good idea of what you want to live close to will help you select a neighborhood.
Browse our Piqua, Ohio featured listings, or start searching homes by amenities and features.
Why Should I Use a Realtor?
Using a Realtor who is local to the Piqua, Ohio area will provide vital insight into its neighborhoods and the overall community.
Financing your future home is an essential part of the home buying process. A Realtor can help you find the right price range for your income and can explain various mortgage options.
Working with a Realtor ensures you don’t miss any of the fine print on all the complicated paperwork associated with buying a home.
Where and How Can I Get a Loan?
Mortgage loans are typically available through banks, credit unions, private mortgage companies, and government state lenders.
Your Realtor can connect you with their preferred lenders, or they can guide you through the process of shopping for the best lenders online.
Contact local government agencies to see if there are programs specific to your area that may be available to you.
What if I Have Bad Credit or No Down Payment?
You might qualify for a federal mortgage program or local home buying assistance program.
The Federal Housing Administration (FHA) helps home buyers by offering insured loans, which means that if the buyer defaults, then the lender will still get their money. Insured loans encourage lenders to work with more buyers regardless of their credit or available down payment.
The Department of Housing and Urban Development (HUD) also offers many assistance programs to home buyers.
Once I Find My Home, What Will I Have to Pay Up Front?
Earnest money: This is the "security deposit" you pay when you submit your offer to prove to the seller that you are serious. After your offer is accepted, it is applied to your down payment or closing costs.
Down Payment: This is a percentage of the cost of your home. The amount will depend on your loan; government programs can help you decrease this amount.
Closing Costs: These are typically low for buyers and represent the fees associated with paperwork and lender charges.
What Other Costs Will I Pay?
Other costs can include utilities, HOA or condo fees, and property taxes. These are typically included in your mortgage payment.
Ask your Realtor about additional fees associated with your particular home, community, or neighborhood.
What if I Still Have Questions?
That's easy! Contact us today, and we can answer any of your home buying questions about homes for sale and real estate in Piqua, Ohio, or its many communities.
Want more information? Learn more about buying a home in Piqua, Ohio!