Buy Your Next Home
We're with you when you're ready to buy your next home
Let us help you understand the your options and considerations so you can make informed homebuying decisions.
- Gaining additional space. Perhaps you've outgrown your existing home and need more space for your family, hobbies, or your social life.
- A more manageable space. If you want to downsize or want to simplify your life, you may be ready to consider a smaller home.
- A quicker commute to a new job opportunity. Career changes may make it necessary to move to a new area and find a new home.
- Enhanced luxuries or upgrades. Additional income may allow you to purchase a home with additional amenities.
Be clear about your purchasing reasons
Estimate the cost of selling your current home
Before pricing your home, calculate sales costs, including:
Estimate the sales price for your current home
Consider purchasing a home that needs renovation
Your monthly mortgage payment is typically made up of four parts:
- Principal is the amount of money you borrowed.
- Interest is the cost of borrowing the money.
- Taxes are the property taxes charged by your local government. Typically we collect a portion of these taxes in every mortgage payment and hold the funds in an escrow account for tax payments made on your behalf as they become due.
- Insurance refers to homeowners or hazard insurance that provides protection against loss from property damage due to wind, fire or other risks. Like taxes, insurance costs are typically collected and paid from an escrow account.
Depending upon your property location, property type and loan amount, you may incur other monthly or annual expenses such as mortgage insurance, flood insurance, and homeowners association fees.
Learn more about establishing and improving your credit
- Do you pay your bills, loans, credit cards and other debts on time?
- We examine your payment habits before deciding to loan you money.
- Your credit history and credit score are also examined prior to deciding to loan you money.
- It's a good idea to check your credit history and correct any problems before applying.
- Do you have enough funds for a down payment and closing costs?
- You may use funds from a savings account, certificate of deposit (CD), investments, and retirement fund.
- In some cases, you may be able to use gift funds toward closing costs and all or part of the down payment.
- In many cases you will also have to demonstrate that you have additional funds in your accounts to cover several months of mortgage, tax and insurance payments.
- What is the market value of the property you want to purchase?
- We will order a property appraisal to make sure your property's value meets our underwriting requirements.
Creating a plan
Estimating what you can spend
Setting a time frame
Buying a house?
Estimate how much you may be able to borrow.
Verification of this information, satisfying underwriting conditions, plus a satisfactory title search and appraisal are required for final loan approval.
Remember: Neither a preapproval nor a prequalification obligates you to borrow from Wells Fargo.
Needs and wants
Types of homes
Your real estate professional and home mortgage consultant will work together to help make buying your first home a rewarding experience.
Benefits of working with a REALTOR®
Professional assistance and representation
Making an Offer
When you make the offer, consider these tips:
Put your offer in writing
Have your preapproval for maximum leverage
Submit a deposit
Finalize your purchase contract
- Learn about your loan options. We'll help you find a mortgage that meets your needs from our wide array of mortgage products.
- Get ready to apply. Find out what information you'll need to provide when you apply for a mortgage.
- After your application is submitted. Learn how you can track your application status online.
Brent D. Miller
Home Mortgage Consultant
NMLSR ID 404017
Toll Free: 1-800-643-0528 Ext.8638
10900 NE 8TH ST Suite 1430
Bellevue, WA 98004
Total the amount of your savings
- savings and money market accounts
- stocks and bonds
- certificates of deposit
Mortgage insurance protects the lender against a loss if a borrower defaults on the loan. On conventional, (non-government) loans, private mortgage insurance (PMI) is usually required if your loan amount is greater than 80% of the home's value. On government-backed FHA loans, mortgage insurance is usually required in the form of both an up-front premium, as well as a monthly premium. The amount of mortgage insurance paid on an FHA loan is dependent on the base loan amount, loan term and loan-to-value (LTV) ratio.