Buyer Services
Stouffer Realty, Inc. knows and understands the neighborhoods within Summit, Portage, Stark and Medina Counties. We specialize in locating dream homes that fit our clients desires and budget. Our agents include some of the most experienced Realtors in the area! We live in these communities and have first-hand knowledge about area property values, school systems, neighborhood character and financing options.
Stouffer Realty Inc., will take care of all the details during the purchase and closing of your new home. From the initial offer through the inspections and escrow paperwork, we will keep you informed, while freeing you from the stress of details. Our goal is the same as yours -- a smooth and timely transaction.
Our satisfied clients are our best sales tool, providing us with referrals and repeat business. If you'd like to view our satisfied customer letters, please stop by our office. We enjoy sharing them!
Buyer Tips
What can I afford?
The process of buying a home, or investment, generally starts with determining your buying power; that is, your financial reserves plus your borrowing capacity. When you provide your Stouffer Realty, Inc. agent with some basic information about your available savings and income, they can refer you to a lender who is best qualified to help you. Your agent can help you in understanding these different financing options and in identifying qualified experienced lenders who have proven themselves in their field.
For calculation and rate information click here.
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What's my credit rating look like and how will it affect my purchasing power?
When you're purchasing a home, your credit score is a very important number. The interest rate you'll pay for the money you borrow will be determined, in large part, by this three-digit number that's generated from the information in your credit report.
Most lenders have rules about handing out the best terms, and those rules almost always place a major emphasis on your credit score. If their best rates are offered to borrowers with a score of 700 or higher and yours is a 698, those two points could cost you thousands of dollars.
According to www.myfico.com, the consumer Web site of the Fair Isaac Corp. that created the FICO score (the most commonly used credit score), the interest rate difference between those two scores is one-half percentage point. On a $165,000 30-year fixed rate mortgage, that half point could cost you more than $19,000 in interest charges, assuming 6 percent is the lowest rate available. If you were to fall below a 675 and the rate goes up another 1.2 percent.
Improving your credit score quickly
You can take steps to improve your credit score. A number of variables play into an individual score, but the best scores are generated by paying your bills on time, keeping account balances low, and taking out new credit only when you need it.
Look for errors in the report, such as accounts that aren't yours, late payments that were actually paid on time, debts you paid off that are shown as outstanding, or old debts that shouldn't be reported any longer. Then rectify the errors with the reporting agencies.
After repairing errors, the fastest route to a better score is paying down balances on credit cards. It may be possible to increase your score by paying down your credit cards.
Typically, closing unused accounts won't affect your score either way.
Leave the oldest credit cards open. If you close the account of the credit card you got when you were a freshman in college and leave open the ones you just got within the last couple years, it makes you look like a much newer borrower.
Another strategy for bringing up your score: Transfer balances from a card that's close to being maxed out to other cards to even out your usage or just spread out your charges between a few cards.
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What to expect at Closing
Your Stouffer Realty, Inc. agent will prepare you for closing before you arrive at the title company. Our job is never complete, even after the closing. Here are a few items, as a reminder, to have at closing:
What to Have at the Closing
• Cashiers check for the balance of your down payment.
• Homeowners insurance binder - Homeowners insurance or hazard insurance is required by mortgage lenders.
• Photo ID.
What You Will Sign at the Closing
• A document stating the specifics of the loan: monthly mortgage payments, the amount of the loan, the term of the loan and its interest rate.
• A promissory note stating that you will make the monthly mortgage payments.
• The mortgage papers (if you are getting a loan).
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Buyer Resources
Your home search
We understand the excitement of a new home search. We pledge to assist you with locating the homes of your dreams. Working with your real estate agent, we'll ask you to complete a needs and wants assessment. This information will prove valuable in narrowing down your search. We'll only show you homes that match your criteria.
Moving tips
In order to make your move as smooth as possible, Stouffer Realty has compiled a list of moving tips from our many years of experience. We help our customers make an easier and more efficient move.
Financial resources
Stouffer Realty works with a number of lenders. We can assist you in determining the best financial institution based on your history and needs. Please contact your agent for specific information.
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