FAQ
FAQ
Frequently Asked Questions
Am I Ready to Be a Homeowner?
As ARTENEST Homes, we believe you’re ready to be a homeowner if you have stable finances, a good credit score, and a long-term commitment to maintaining the property. It’s also important to ensure that homeownership aligns with your personal and financial goals. We’re here to help you assess your readiness and guide you through the process when you’re ready.
Is Renting or Buying Better?
At ARTENEST Homes, whether renting or buying is better depends on your personal goals, finances, and lifestyle. Renting offers flexibility and fewer responsibilities, while buying builds long-term equity and stability. If you’re ready for a long-term commitment and have the financial means, buying can be a great investment. However, if you’re not ready to settle or face financial uncertainty, renting might be the better option. We’re here to help you weigh the pros and cons and make the best decision for your future.
What Is the Lender's Formula?
The lender’s formula is a common guideline used by lenders to determine how much you can afford to borrow. These formulas help lenders assess your ability to manage debt and make timely payments. At ARTENEST Homes, we can connect you with trusted mortgage advisors to help you understand these ratios and determine a comfortable budget for your home purchase.
What Do I Look for in Homes?
When looking for a home, focus on location, budget, size and layout, condition, and future value. At ARTENEST Homes, we help you find a property that fits your needs and long-term goals.
Do I Need a Home Warranty?
A home warranty can provide peace of mind by covering the repair or replacement of major systems and appliances. If you’re buying an older home or want protection against unexpected costs, it can be a smart choice. At ARTENEST Homes, we can help you evaluate whether a home warranty fits your needs and budget.
What Should I Expect at Closing?
At closing, you’ll finalize the sale of your home. You can expect to:
- Review and sign documents: This includes the mortgage agreement, deed, and closing disclosure.
- Pay closing costs: These can include fees for the loan, title insurance, and other related expenses.
- Transfer of ownership: After all documents are signed and payments made, you’ll receive the keys to your new home!
At ARTENEST Homes, we guide you through the closing process, ensuring everything goes smoothly and you’re fully prepared.
What Is Pre-approval?
Pre-approval is a process where a lender evaluates your financial situation (income, credit score, debts) to determine how much they are willing to lend you for a mortgage. It gives you a clear idea of your budget and shows sellers that you’re a serious buyer. At ARTENEST Homes, we recommend getting pre-approved early to make your home search more focused and your offer more competitive.
Am I Ready to Rent?
You may be ready to rent if you’re looking for flexibility, are financially stable, and prefer not to commit to long-term property maintenance. Renting is ideal if you’re not ready to settle in one place or if you don’t have enough savings for a down payment. At ARTENEST Homes, we can help you assess your needs and find the perfect rental that fits your lifestyle and budget.
What Should I Offer?
When deciding what to offer, consider the listing price, market conditions, and comparable sales. We at ARTENEST Homes will help you make a competitive and informed offer based on these factors.
Can I Ask You for Advice?
Absolutely! At ARTENEST Homes, we’re here to provide expert advice and guidance every step of the way. Whether you’re buying, selling, or investing, feel free to reach out with any questions. We’re here to help!