Steps To Buying A House

In Newberg, Oregon

2) Your Savings

It's always a good idea to have a few months of mortgage payments saved up in case of an emergency. Most mortgages now already include your taxes and insurance each month, but having a contingency plan for things such as repairs is a great plan.


3) The Market

It's important to be aware of current market conditions when deciding whether or not to buy. If prices are on the rise, it may be a good time to buy before they go any higher. However, if the market is unstable or there's a potential for a housing bubble, you may want to wait until things settle down, these are conversations where our relationship is really going to be a valuable part in helping you navigate through the current situation and options. 


4) Your Employer

If you're considering buying a home in the near future, it's a good idea to check with your employer to see if they offer any mortgage assistance programs. Many companies offer employee discounts on home purchases or even help employees pay their mortgage each month.


5) Your Living Situation

If you're currently renting, it's important to consider whether or not you want to commit to a long-term mortgage. If you're not sure, it may be a good idea to rent for a while longer to get a better idea of what you want.

Once you've weighed all of these factors (there are others to take into consideration that aren't covered here), you should be able to make a well-informed decision about whether or not buying a home is right for you. And remember, if you ever have any questions, I'm always here to help.

Find out the major benefit of Buying vs Renting:

Frequently Asked Questions About Buying A House In Newberg

We Know We Want to Buy a House, Where Do We Start?

The process of buying a home can seem daunting, but it's actually quite simple if you break it down into manageable steps. Here's how to get started:


1) Figure Out How Much House You Can Afford

2) Get Pre-Approved for a Mortgage

3) Find a Real Estate Agent

4) Search For Your Dream Home

How Much Is It Going to Cost Us Cash Upfront, Down Payment/Earnest Money/Inspections?

When you buy a home, an ultimate goal would be to put down at least 20% of the purchase price. However, there are a few other options out there:


  • You can get a mortgage that allows you to put down as little as 3% of the purchase price.
  • You can get a home loan that doesn't require a down payment (known as a 100% financing loan, available to certain groups such as the military, USDA qualified rural areas, first time home buyer programs or grants).
  • You can get a loan that uses the home you're buying as collateral (such as a home equity loan or line of credit).
  • Or potentially other unique options as well.



The amount you'll spend on other items such as earnest money or inspections will vary depending on the property you're buying. However, you should expect to spend roughly $500-$900 on inspections and 2-3% on closing costs.

Do We Pay for Buyer's Representation (A Real Estate Agent)?

When you buy a home, you may choose to work with a real estate agent like me. This is known as buyer's representation and comes with a variety of benefits, including my expertise, access to listings, navigating repairs and negotiating the contract of your new home on your behalf. While buyers don't directly pay me, there will be commissions (that I split with the seller's representative) included in the purchase price of the home. This means that you won't have to worry about any additional fees or charges associated with working with me.

Do I Need to Be Pre-approved to Start Looking at Houses?

Technically, you don't have to be pre-approved to start looking. However, we live in an extremely desirable market and it's always a good idea to get pre-approved for a mortgage before you start looking at houses, not only will you have a clear idea of how much you can afford, but many sellers are requiring to see that prior to scheduling a showing. House hunting can be a time-consuming process, so in the interest of saving time, try to get pre-approved as soon as possible. Ensuring once we fall in love with that dream home, we are ready to move on it. 



I'm very well connected with mortgage lenders and credit unions here in Oregon to help you get started. Please feel free to reach out to me if you need any assistance.

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