Your Team of Homebuying ProfessionalsBuying a home is a complex process. Anyone who has gone through it knows that there are so many details to keep track of — and so many different people involved. When you’re ready to buy a home, it can feel like you need an entire team of specialists to make it happen. Luckily, you don’t have to build that team from scratch. There are real estate agents who specialize in home buying, mortgage brokers who can help you get a loan and so many other pros involved to keep you on track. With the right team behind you, buying a home will be much less stressful and much more rewarding.
Your Licensed Loan OfficerMany people don't realize it, but your first stop in buying a home is finding a mortgage lending professional. A licensed loan officer will talk with you and review your goals, income, assets, credit, and any important details that could affect your financial situation. This information helps the loan officer determine which home loan programs and products make the most sense for you.
When you work with Farm Bureau Mortgage, your dedicated loan consultant will work to get you prequalified and then preapproved for the best possible loan term for your needs, so you can begin your search. Your loan consultant will stay with you every step of the way and support you throughout your entire home buying process.
Your Real Estate ProfessionalIf you’ve ever watched an episode of “House Hunters,” you know that when it comes to finding a new home, timing is everything. If you want to buy a home before the next buyer comes along and snatches it up, you’ll need to get your team in place as soon as possible. There are a few things to consider when selecting a real estate agent. First, you’ll want to find an experienced real estate agent who can meet your needs. Are you in the military? First-time homebuyer? Real estate investor? If so, look for a real estate agent who has that knowledge and expertise. Next, you’ll want to make sure the real estate agent you choose is a licensed agent in your state. Finally, you’ll want to find a real estate agent who will make you feel comfortable. It’s important to build a strong relationship with your real estate agent because they will be one of your main points of contact throughout the home buying process.
Your real estate professional will help you find the best home for your needs, craft a good offer, and negotiate terms that benefit you. They will also facilitate important to-dos, like inspections, and ensure that your transaction follows each step and that all documents are where they need to be. You will be spending a lot of time with this person, so be sure that you like them and communicate well with them.
Your Farm Bureau Insurance AgentWhile your real estate agent will help you find a home, your insurance agent can help you find a home insurance policy. A good insurance agent can help you find the right policy for your situation and budget. Your insurance agent can also help you understand what’s covered and what’s not covered by your policy. It’s important to understand what you’re covered for and what your policy doesn’t cover so you can be prepared for anything that comes your way.
Farm Bureau Mortgage recommends checking in with your local Farm Bureau Insurance agent for your homeowner’s insurance, as well as all your other insurance needs. They work tirelessly to ensure you have appropriate coverage for your unique home and life insurance needs.
Your Escrow OfficerThis professional functions as an impartial third party who helps coordinate the signing of your loan documents, as well as holding all the necessary funds during the transaction. They ensure that all parties have lived up to their responsibilities before releasing funds from one party to the other. As a consumer, you have the option to shop for an escrow company of your choice. However, your real estate agent, the seller's agent, or your licensed loan officer will likely have an escrow company they like to work with, who will assign an officer.
Your Title OfficerYour title officer is in charge of reviewing the title report. This report will tell you who owns the home you’re buying and whether there are any liens or encumbrances (debts) on the home. If there are issues with the title, your title officer will let you know about them so you can figure out how to move forward. Like the escrow officer, you do have the option to shop for a title company of your choice. However, your real estate agent or the seller’s agent typically has relationships with title companies they can recommend.
Your Home AppraiserIf you’re buying a house, you’ll need to get a home appraisal from a licensed appraiser. This is a person who will come to the home, look at the condition, size, age, and other factors and estimate how much the home is worth. The appraiser will use that estimate to figure out how much you can borrow from the bank. Your mortgage lender will find and hire an appraiser. You do not need to find one yourself.
Your Home InspectorA home inspector is a person who goes through your home with a fine-tooth comb to look for needed repairs or other issues that you should consider before purchasing the home. The inspector will give you a report itemizing each issue, which could affect the terms of the transaction. It is your responsibility to hire a home inspector, but your real estate professional will likely have suggested referrals for you.
Each of these professionals plays an important role in the home buying process, ensuring the transaction results in a positive outcome. If you're ready to start this journey, speak to a Farm Bureau Mortgage Loan Consultant today.