Complete Guide for Mandeville Home Buyers

A Step-By-Step First Time Buyer's Guide

Buying a home is one of the most exciting milestones of your life. To prepare yourself for this moment, you need to know what to expect during the process. This step-by-step first time buyer’s guide created by your agent will help reduce the stress of buying a home and help you enjoy the journey as much as possible.

Step 1: Research

Do you already know where you want to buy? If you want a condo, townhome, or single-family home? Which features do you like and dislike? What’s available on the market now? If you answered no to any of these questions, now is the time to start researching. In addition to looking for homes that interest you, also take note of any changes in asking prices. This could give you valuable insight into housing trends in specific neighborhoods and help you when the time comes to make an offer.

Step 2: Decide on Your Budget

Notice I said to decide on your budget—not determine how much the mortgage company will give you. In many cases, a mortgage company will pre-approve you for more than you’re comfortable spending, which is why you need to determine the monthly payment you feel comfortable with before talking to a lender. This likely includes doing a full household budget and taking into consideration what changes other than a mortgage payment will occur once you move into your new home. If you’ve lived in an apartment or with roommates, you may overlook new expenses like garbage, water, or HOA fees that could easily blow your budget.

Step 3: Get Prequalified

Just because you think you can afford a certain payment every month doesn’t mean the mortgage company will agree. Just as they may approve you for too large of an amount, they may also approve you for a lesser amount or deny you a mortgage altogether. Lack of time at a job, insufficient credit, past bankruptcies, or other financial issues can cause major problems when trying to secure a mortgage. Before you get your heart set on a home, talk to a mortgage professional to find out what amount you can qualify for. This will also be an advantage when you make an offer on a home, as some sellers won’t entertain offers from those who aren’t already prequalified for a loan.

Step 4: Choose a Real Estate Agent

Can you shop for, look at, and ultimately make an offer on a home without a real estate agent? Technically yes, but why would you when it costs you nothing for an agent like me to take much of the stress off your shoulders? Not only will I help identify properties you might be interested in, arrange showings, and ultimately handle the offer process, but I also have a knowledge of the market that you don’t possess. Finding the perfect home can be a daunting task, this is where my expertise and wealth of knowledge come into play. Let me show you around some homes that meet your dream home criteria so you can find the one that's right for you.

Passion & Expertise

My goal is to provide you with the most personalized service possible, meticulously designed to help you navigate the process of buying your dream home. I am dedicated to understanding your unique needs and preferences, ensuring that every step of the journey is tailored to achieve your ultimate home-buying aspirations.

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Step 5: Find the Right Home

This should be the most enjoyable step of the entire process (other than moving in!). I will arrange showings of homes you’re interested in that are within your price range. Take notes about what you like and don’t like, and make sure to pay attention to details. Turn light switches on and off, open and close doors, and run the faucets in various rooms. Don’t limit your inspection to the home itself. Make sure to take time to explore the neighborhood and keep an eye on traffic at certain times of the day, the parking situation, and how close it is to necessities like schools and grocery stores.

Step 6: Make an Offer

Once you have selected the perfect home, work with your agent to craft a fair offer based on the value of comparable homes on the market. Depending on what the home is listed at and whether the current environment is a buyer’s or seller’s market, your offer may be below, at, or even above the asking price. I will be able to help you negotiate if you receive a counteroffer and reach an agreement. At this point, the house will go into escrow.

Step 7: Have the Home Inspected

In most cases, your offer will be contingent on having the home inspected to ensure there is no major structural damage or large repairs needed. I can help you arrange this, and you can schedule it within days of making an offer. If there are no major issues, the process goes to step eight. If there is, you can renegotiate your offer based on what needs to be fixed, or you can withdraw it.

Step 8: Select Your Loan

Now is the time to go back to the mortgage lender who pre-approved or pre-qualified you and choose your mortgage. You will be presented with various options based on your unique financial situation, including fixed-rate, variable-rate, 15-year, 30-year, or special programs such as VA loans or FHA loans. Work with your mortgage lender to select the option you feel the most comfortable with.

Step 9: Get a Home Appraisal

Your lender will have your new home appraised so they have their independent value of it. The appraisal is to ensure that all parties involved are paying a fair price for the house.

Step 10: Finish Paperwork

No one looks forward to all the paperwork involved in buying a home, but it’s a necessary part of the process. Fortunately, everything will be arranged by your lender and title company and, when you’re finished, you’ll know you are the legal owner of your new home.

Congratulations!

After signing the final paperwork to complete the purchase, you are now the owner of a new house. It may take a few days for your loan to be funded once the paperwork has been returned to the lender, but once that check is delivered to the seller, you’ll be all set to move into the home of your dreams.

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Testimonials

April G.

Stephanie and Christy provided excellent service and made the mortgage process simple. I was updated quickly and clearly throughout the process.

Larry F.

GMFS was terrific. Stephanie and her crew did a great job.

Chuck B.

Stephanie, Christy and the entire team at GMFS Covington were phenomenal! They worked tirelessly to help our family secure a mortgage on our new home. We highly recommend GMFS Covington and will use them for any future mortgage...

Gary H.

We found the staff at GMFS to be great to work with. They were each very helpful and patient. Thanks again to Stephanie and Jennifer for making this transaction stress free!

Brendon T.

Always a pleasure doing business with Stephanie and team!

Carla P.

GMFS is hands down the best! Stephanie and Kelsi were on top of every detail and I never had to worry. From day one they made me feel confidant in my decision to choose them. Highly recommend!

Stephanie M.

Stephanie and everyone at GMFS are amazing! I work with them personally and through our mutual clients. Every transaction is always an easy, smooth process! 5 stars all around!

Greg M.

Thank you for a great and easy experience. Stephanie and Kelsey are awesome! Go with them and don’t worry about shopping around for another mortgage lender.

Devin B.

Really enjoyed the home buying process thanks to Stephanie and Michelle with GMFS Mortgage. Always quick to answer any questions and made the home buying process easy. I highly recommend them.

Cody L.

Stephanie and the entire team at GMFS were amazing. They communicated with us throughout the entire process and guided us efficiently every step of the way. I will use them again the future and recommend to anyone.

Donna G.

I would not hesitate to recommend Lynnette Boudet for one second. She not only helped us sell our home, but purchase another and coordinate everything splendidly. She was always there at the ready. Buying and selling can take a...

Annalyne N.

Lynette helped us buy our first home. Every question that arise during the process was addressed. She was very helpful.

Jc

Words can't describe how fortunate and Blessed we were to have Lynette Boudet as our realtor. From listing to sale, Lynette and Shelley were there every step of the way. She used her years of experience and knowledge to lay out...

Roxanne S.

My husband and I have had the pleasure of working with Lynnette and her assistant Shelley. We are currently living in another state and are considering moving back to the North Shore. We have come down to look at houses 3 times...

Isik U.

My realtor from South Florida recommended Lynette Boudet. She said she can not help me in Louisiana but I am in good hands. I told her no one can be as good as she is. Well Lynette proved me wrong. Lynette stood out with her pe...

Lacy S.

Lynnette was wonderful to work with! Very responsive and accommodating. Highly recommend!

Jon S.

Lynette and Shelley are fantastic! We partner with them on new purchases and rentals. They are professional, thorough, and action-oriented. We trust them immensely. They are brilliant communicators and negotiators. Five stars!

Kevin E.

Lynnette was more than a real estate agent to us, she was a consultant. She educated us throughout the buying process of our new home and the selling process of our current home. She was there to answer any and all of our quest...

Carol B.

Lynnette, a big Thank You for your continued support in my 'Rightsize Journey'! Your professionalism and joy at your craft are infectious, it shows through. This little garden home is exactly what I dreamed of, just didn't know...

Theresia R.

Lynette helped me buy my home and sell my home when I had to leave much sooner than I anticipated. She always gives 110% and treats you like you are family. Over the years I have relocated many times and I can without hesitatio...

Work With Lynnette

My goal is to provide you with options, and to work WITH you to ensure a smooth transition to the loan closing process and beyond. Whether you are a first time home buyer, or a seasoned investor, if you or someone you care about, decide that you'd like to buy or sell a home please contact me!

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Buyer's Guide