Whether you're a first-time home buyer or an experienced real estate buyer in Fairfax Station, it's always a good idea to brush up on your real estate know-how before you begin your home search. This will ensure that you are an informed buyer, prepared with the knowledge and equipped with the tools to make a confident home buying decision.
Frequently Asked Buying Questions in Fairfax Station
Where should I start the process?
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Contact Move With Marion Team to establish expert buyer representation so you have an experienced guide to help you navigate and negotiate your home purchase.
- Organize and review your finances. Set a budget and figure out what you will be able to afford for a down payment. Use our handy mortgage calculator to see what a monthly mortgage payment might look like for you.
- Start exploring the many communities in and around Fairfax Station to see which might be best for you.
- If you're a first-time buyer, you might want to get more information first!
How do I know what to look for in a home?
- This is up to you! Take some time to decide what's important to you - proximity to amenities, school districts, yard sizes, noise, commute, highway access. This will help you find a neighborhood.
- Review home features you might want and those you'll need, from size to style to overall condition. Having a good idea of what you're looking for will save you time and tours of homes that don't meet your criteria.
- Browse our Fairfax Station featured listings, or start searching homes by amenities and features.
Why should I use a REALTOR®?
- The Move With Marion Team will expertly guide you through the financial and legal details of Fairfax Station's real estate market.
- As local specialists, Move With Marion offers vital insights into Fairfax Station’s neighborhoods and communities.
- Our team at Move With Marion will help you find the right price range for your income and explain the pros and cons of different mortgage options.
- Count on the Move With Marion Team to answer all your questions and navigate the paperwork with ease.
Where and how can I get a loan?
- Mortgage loans are typically available through banks, credit unions, private mortgage companies, and government state lenders.
- Move With Marion Team can help connect you with our preferred lender partners. You can also shop for lenders on your own, making sure you take some time to search around and compare rates.
What if I have bad credit or no down payment?
- You might qualify for a federal mortgage program or local home buying assistance program.
- The Federal Housing Administration (FHA) helps home buyers by offering insured loans. This means that if the buyer defaults, the lender will still get their money. Insured loans encourage lenders to work with more buyers regardless of their credit or available down payment.
- Many state and local governments offer additional programs for buyers who meet various criteria or are buying within individual communities.
- The Department of Housing and Urban Development (HUD) also offers many assistance programs to home buyers.
What will I have to pay up front?
- Earnest money: This is the "security deposit" you pay when you submit your offer to prove to the seller that you are serious. After your offer is accepted, it is applied to your down payment or closing costs.
- Down payment: This is a percentage of the cost of your home. The amount will depend on your loan; government programs can help you decrease this amount.
- Closing costs: These cover fees related to paperwork and lender services for the transaction.
What other costs will I pay?
- Home ownership costs include utilities, insurance, HOA/condo fee (if applicable) and property taxes. Some of these items may be included as part of your mortgage payment if you have an escrow account.
- Ask the Move With Marion Team about additional fees associated with your specific home, community, or neighborhood.
I Still Have Questions!
That's easy! Contact us today and we can answer any of your home buying questions about homes for sale and real estate in Fairfax Station or its many communities.
Want more information? Learn more about buying a home in Fairfax Station!