Cabins USA Realty, LLC

• Buyer's Agent

  Cabins USA Realty will work in your interest to find a home that is just right for you, and negotiate on your behalf to get you the lowest price.

• Residential Real Estate

  Single family homes, condominiums, manufactured homes, and cabins.

• Commercial Real Estate

  Fee simple and leasehold properties.

• Lots & Land

  Lots & acreage.

• Multi-Family Real Estate

  Duplexes, triplexes, quadplexes, apartment complexes, and other multi-family properties.

Buying a home can be one of the largest personal investments one can make. A well-designed plan of action will help a buyer be organized and in control, which will contribute significantly to getting the best home deal possible with the least amount of stress. It is important to anticipate the steps required to successfully achieve your housing goal and to build a plan of action that gets you there.

Avoiding Financial Stress

By asking the right questions, and knowing exactly what your needs are, you can find the right loan for you. The better qualifications you have, the lower your interest rate will be. However, there are mortgages available for almost everyone; it is the interest rates or the down payments that vary.

Before speaking with a lender, know the monthly dollar amount with which you feel comfortable; then when you discuss mortgage pre-approval with your lender, it is easier for you to determine the monthly amount and what value of home the monthly amount equates to.

Research the types of mortgages available to you and find the one that best suits your needs. Some things to consider in terms of finding the best mortgage may include:

• What are the current interest rates? Mortgage 101
• What type of mortgage is right for you?
• Do you want a fixed mortgage rate, so you will always know what your monthly payment is going to be?
• What are your long-term goals?
• Do you intend to resell the property within a few years and may only need the mortgage for a short time?

Defer Any Major Credit Purchases

Several months prior to buying a home, it is recommended that you not make any major credit purchases, as your mortgage pre-approval is subject to an evaluation of your financial status.

For example, every $100 payment you pay per month on credit could cost you as much as $10,000 in home eligibility. Even if you may have accumulated a substantial savings account, you should still delay making any major purchases until after closing on your home.

Do You Know Your Credit Score?

Credit scores directly affect many of your financial transactions, including buying a home with a mortgage. Follow this link to tips to ensuring your credit score is as high as possible. My Free Credit Tips

Finding a Lender and Getting Pre-Approved to Purchase

Buyers who are pre-approved through a financial institution (i.e., banks, mortgage bankers, credit unions, mortgage brokers, and online lenders) are more attractive to sellers. Most lenders can pre-qualify you for a mortgage over the phone. Based on general questions about your income, debt, assets, and credit history, lenders can estimate how much mortgage you can afford.

Pre-approval is different than pre-qualified. Pre-qualified in simple terms merely means that an institution would consider granting you a mortgage. Pre-approval, on the other hand, means that the institution you are dealing with has done the necessary checking of your credit history, etc and has made a determination of the maximum loan amount that they will give to you. This indicates to the Realtor and seller that you are ready and able to buy a home or rental cabin. It will also save time as you know your price range.

Items Borrower May Be Asked to Bring to the Loan Application

1. Residence addresses for the past two years
2. Landlord addresses covering past two years (three years for Tennessee Housing Development Agency (THDA)
3. W-2s for past two years and current pay-stubs covering 30 days
4. Last two months checking, savings, and Investment Account statements
5. Money for credit report and appraisal
6. Self-employed borrowers only: two years tax returns including all schedules
7. VA only: Certificate of Eligibility and DD214

Location, Location, Location

Deciding the best location to live for you and/or your family is key in the decision making process. Important things to consider are:

1. What is next door to the home?
2. Convenience for all family members.
3. Availability of city services.
4. Are you near essential services?
5. Proximity to work and schools.
6. Crime rate of the neighborhood (www.NSOPR.gov)
7. Local transportation.
8. Types of homes in the neighborhood (i.e., condos, town homes, newly constructed homes etc.)
9. Planning and zoning – what are plans for the area’s future?

Use a Realtor

The knowledge and help that a Realtor gives can make all the difference between a pleasant experience and a disaster. If you are buying a second home or rental cabin, the realtor knows the area and can help find the home or cabin that best suits your needs. If you are buying a primary home, then the knowledge that a Realtor has of the area and conditions of the market are simply indispensible.

It is important that you choose an experienced agent who will work for you. Our agents actively find you potential homes, keeping you informed throughout the process; we negotiate on your behalf, and will answer all of your questions.

Our agents use not only the Multiple Listing Service, but also use their knowledge of the real estate community to actively find homes that are listed “For Sale By Owner (FSBO)” or homes that may not be currently listed, but that the owners may be thinking of selling.

Importance of Inspection

As a buyer you are entitled to have an inspection of the property that you are making an offer to purchase. This is EXTREMELY IMPORTANT! Do not take for granted that everything is OK just because it looks good. Have a licensed professional home inspector inspect all aspects of the safety and quality of the home you are considering. The cost of a home inspection is usually the buyer’s responsibility, but, for your peace of mind, is well worth the cost. Ask your Realtor to recommend several licensed home inspectors in the area, then you select the one you wish to have perform the inspection.

Ask Questions

Ask every question that comes to your mind…there are no stupid questions. If you don’t know the answer, ask the Realtor if he/she doesn’t know ask them to find out and get back to you. Do not make a major financial decision uninformed.

Investment Property

Why Rent a Cabin in the Smokies When You Can Own One? Your dream of owning your own place in the Smokies can come true. Owning a vacation home improves both your quality of life and your investment portfolio. With more than eleven million visitors to the area, each year this is one of the fastest growing tourism destinations in the South.

A vacation home in the Smokies can give you a place to gather with friends and family and the potential rental income can help pay for your vacation home while you are back home. It’s affordable and easy! Let our professional Realtor staff show you how easy it is to own your very own place in the Smokies.

Related Links

Tennessee Association of Realtors – Consumer Resources

http://www.tarnet.com/main/whats_new/