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Home Purchase Basics

Congratulations on your decision to buy a new home! There are many important things to consider throughout the process. Here's some information that will keep you on track.

In General...

A home purchase may be your largest financial transaction to date so it's important to make the right decisions and to keep an eye on the details. With the assistance of your real estate agent and loan officer, your process should be an efficient, pleasant, and ultimately rewarding experience.

Count On Your Real Estate Agent To:

1.       Preview available homes to weed out those that are overpriced or undesirable in some other way.

2.       Present the homes that suit your needs as you've defined them.

3.       Help you determine the difference between a "good buy" and a property which because of its nature (neighborhood, market appeal, etc.) might have to be discounted if you decide to sell in the future.

4.       Negotiate the best deal for you. With a Pre-Qualification Letter from us in hand, your real estate agent will be able to demonstrate that you are a qualified and capable borrower. This may strongly influence the Seller and might make the difference between the Seller accepting your offer or someone else's.

Count On Your Loan Officer and Mortgage Company To:

1.       Assist you in selecting the best loan to meet your personal situation and goals.

2.       Review the loan process upfront from start to finish so you are comfortable throughout your transaction and know what to expect.

3.       Keep you informed of your loan status throughout the entire process.

4.       Keep other parties to your transaction (real estate agents, attorney, builder, etc.)  informed of the loan progress to ensure a smooth and timely closing. (Your personal information is kept confidential of course).

Count On Yourself To:

1.       Provide documentation and decisions as soon as reasonably possible so that many of the details are taken care of early in the process which ensures a pleasant and smooth transaction.

2.       Contact us timely should you have any questions, comments, changes, or concerns.

3.       Keep your real estate agent informed of any questions or concerns as they develop.

4.       Enjoy the purchase of your new home!


Bay Mortgage, LLC
One Columbus Center, Suite 600, Virginia Beach, VA  23462
Office:  (757) 410-9963
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