First Time Buyer

First Time Buyer

First Time Buyer

Are you a First Time Buyer?

You're in great hands with the sPellHomes Team, they can help you find the home of your dreams!

Questions you may have........

Is the time right for me to purchase a home rather than rent?
Yes! With so many Down Payment Assistance Programs, like the Home in 5, NOW is the time to fire your landlord! Remember, when you rent, your monthly check goes into your landlord’s wallet or toward a mortgage in their name. When YOU choose to buy, you can deduct the mortgage loan interest from YOUR income taxes, which will give you another tremendous savings throughout the year, as well as build your own equity.

If I qualify for a home loan, what else do I need to consider when buying?
One of the biggest considerations beyond your mortgage will be property taxes. Normally, taxes and insurance can be – and are – added to your monthly mortgage payment. You will know the amount of mortgage (principal and interest), taxes and insurance prior to signing on the dotted line. There are other financial considerations that might come into play, as well. Depending on the type and location of the property you purchase, you may have homeowner’s association or condo association dues. These are paid to the community you live in for upkeep costs, landscaping, etc. Of course, you will always have the costs of utilities, but you will most likely have to pay for these whether you rent or own.

How will using the sPellHomes Team benefit me?
Doug and Serena Pell are full-time Realtors who keep up with all the details involved in buying a home in today's market. They assist you through the entire process and make your transition to your new home seamless. They are well educated regarding the entire real estate transaction, from pre-qualification to helping you figure out your ideal price range; scheduling home tours for homes that meet your criteria; to negotiating the best offers which get accepted - a key in today's competitive market. Once your offer is accepted their team will guide you through the paperwork, inspections, appraisal, closing process and finally, hand you the keys to your first home!

What do I need to apply for a mortgage?
The first thing to do is pre-qualify for a mortgage with a trusted lender before looking too seriously at homes. It’s important to know your buying power. 
sPellHomes can connect you with expert lenders who evaluate your unique credit profile and offer home loan programs to best fit your goals. Here are common items you will need when it comes time to apply:

  1. Social Security numbers for both you and your spouse

  2. Copies of your checking and savings account statements for the past 6 months

  3. Statements from all your other assets

  4. Recent paycheck stub detailing your earnings

  5. Statements from all credit card accounts

  6. Account numbers and balances due on outstanding loans, such as car loans

  7. Copies of your last 2 years’ income tax statements

  8. Employment Verification Documents


Serena Pell Headshot
Phone: 623-258-6703
Dated: September 3rd 2015
Views: 700
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The sPellHomes Team - Realty ONE Group
17235 N 75th Ave, Ste C190