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www.IndianLandHomesForSale.com  Official website of Michael Schoeppner 2011.  All Rights Reserved.  Website and design by Craig Rainey.
Michael D. Schoeppner
Broker/Realtor NC & SC
Wilkinson & Associates Real Estate
8604 Cliff Cameron Drive, Suite 110
Charlotte, NC  28269
Mobile:   (803)370-0038
schoeppner@comporium.net
Michael Schoeppner
Wilkinson & Associates
Real Estate
Phone: 803-370-0038
Michael Schoeppner   Lic. NC & SC, Specializing in Fort Mill, Indian Land, Lake Wylie, Lancaster, Rock Hill, Tega Cay
BUYING

Buying a home is an exciting but often overwhelming experience, particularly if you are buying your
first home. As your REALTOR®, I can help you through the home buying process and assure that you
find the right home for you, at the right price for you.  Every homebuyer has a number of concerns,
all of which we can help you with:

Setting a Time Frame
There are a lot of variables in the home-buying process, which means the time it takes to find and
buy your new home varies too. A typical home search process may take three to four months,
including the mortgage approval process, comparing and evaluating properties, making an offer and
the closing process. The loan process typically takes 30-45 days.

The Lending Process
Perhaps one of the most intimidating aspects of buying a home is the mortgage approval process.
We'll be here to help guide you through this, but there are many ways you can prepare early to
make the process smoother. Start by making sure your budget is under control--make a list of all
your monthly expenses, compare it with your income, and see if adjustments need to be made. You
should also try to pay off small credit card balances. Start gathering documents you may need, such
as W-2 forms, income tax returns for the past few years, pay stubs, records of child support or
alimony, bank statements for the past several months, and your credit report. Also, be sure to allow
for closing costs. Getting several offers will allow you to compare loans and get the best deal.

Determining How Much You Can Afford
A general guideline to consider is that most buyers purchase a home that costs about one and a half
to two and half times their current annual income. For example, someone earning $50,000 a year
might purchase a home for $75,000 to $125,000. Mortgage payments should be about 26-28
percent of your gross monthly income. Existing debt is also considered in the mortgage process, and
total debt payments (car payments, credit cards, student loans, etc.) should not exceed 40 percent
of your gross monthly income.

Finding a Home That Meets Your Needs and Wants
Before you start looking at properties, make a list of must have features you'd like to have.
"Must-have" features may include the number of bedrooms and bathrooms you'll need to
accommodate your family, location (consider commute to work, which schools your children will
attend, etc.), lot size and special needs (handicapped access, etc.). Optional features may include
the architectural styling, bay windows, landscaping, etc. Having a clear idea of what you want in a
home will help your REALTOR® find the perfect property for you.

Educating yourself about the home-buying process is key to getting a home you love and can afford.
As your REALTOR®, I am here to answer any questions you might have
and guide you through this process.
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