faq
Frequently Asked Questions
Am I Ready to Be a Homeowner?
What Is Pre-approval?
Am I Ready to Rent?
What Do I Look for in Homes?
Buying a home is one of the biggest decisions you’ll ever make. Our team can help you determine if you’re ready to purchase a home and then develop a personalized plan to help you do just that.
In addition, families that complete a Homeownership Readiness Assessment may be eligible to purchase an affordable home through Dag Hammarskjold Properties. We offer turn-key homeownership options for low- to moderate-income households.
Prequalification or preapproval is a way for a lender to help you and a seller estimate what you can afford. After you find a house and make an offer, the home will still need to be appraised by a third party and inspected for potential repairs before you can close on the loan and buy the home
- Although you may feel ready to get out on your own, or get back out on your own, make sure your finances are in order before you take the leap.
- U.S. Housing Department guidelines suggest that you shouldn’t pay more than 25% to 30% of your gross salary for rent.
- Consider that you’ll have to have some savings to begin with because most apartments will make you pay your first and last months’ rent upfront, along with a security deposit.
- Although you’ll definitely want to find a place that fits your budget, make sure it’s also in a neighborhood you like, are familiar with, and feel safe in.
- Whether you decide to rent month-to-month or sign a year-long lease, be sure to read what you are agreeing to carefully.
- Roof Condition. …
- Reliable HVAC. …
- Plumbing Issues. …
- Water Damage and Mold. …
- Noise Level. …
- A Good Foundation and Home Exterior. …
- Outlets and Appliances That Actually Work