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OUR TESTIMONIALS

"5 Stars | Google Review"


“Lori helped us find our dream home! Her expertise in the field helped us successfully purchase a home at the most competitive time in the market, and her personability ensured she knew exactly what we wanted. We are very happy with our final outcome and would recommend her services to anyone!”

– Genie Hoover –

"5 Stars | Google Review"


“I purchased my home using FaceTime. I lived two days away when I started talking to Lori. She has a sweet and kind demeanor. So when I finally met her, she was everything I imagined. My husband is retired Army, and she understood his military aggression. We love our home! Thank you, Lori, for understanding what we wanted and for your kind heart! A true blessing.”

– Vickie Lindsey –

"5 Stars | Google Review "


“If you are reading this please do not look anywhere else because Lori goes above and beyond to make sure you get the best service ever. She loves what she does, and that is what makes her different from the others because is not about the money for her but the overall satisfaction of her clients. She is very upfront in terms of expectations, the game plan, and how to execute the plan. She was always available to answer every question or point us to the right channel. She is very flexible, so if you are busy like me then that is a huge plus. In terms of negotiation, I don’t think anyone can beat her to that. If I have to re-do this process all over again, Lori will definitely be on the team. I will recommend her to anyone looking for a REALTOR®.”

– Grace Wiredu –

GOT QUESTIONS?

CHECK OUT OUR FAQS

I want to buy a home. Where do I start?

To get started, reach out to Lori Jean Homes. As a professional Realtor she will help you find your dream home. The next step is loan pre-approved with a lender. After you fill out the loan application (15 minutes) and provide documents, you will know how much loan you qualify for how much cash you need for closing and deposit. It is never too early to get pre-approved in the event the lender has recommendations for you to make improvements. To get pre-approved, contact my trusted lending partner, Corey Smith with Vellum Mortgage.

I am comfortable renting. Why should I buy a home instead?
It is proven that the best way to build wealth is to invest in real estate. While there are many reasons that may lead you to purchasing a home of your own, the greatest reason should be building future wealth for you and your family.
My credit isn’t great. Can I still buy a house?
Your credit is a key factor a lender will analyze when pre-approving you for a mortgage. Your score will also impact your interest rate, loan terms, and what programs you qualify for. However, having a low credit score will not prevent you from purchasing a home. A lender can help you understand your credit score and what you can do to improve your score to put you in the best possible position to buy a home.

Conventional loans require a minimum credit score of 620. FHA loans require a minimum credit score of 500. VA loans require a minimum credit score of 580. USDA loans require a minimum credit score of 620. Special products and programs will each have their own credit score guidelines, Maryland Mortgage Program, for example, requires a minimum score of 640.

How much money do I need saved up?
The amount you need for a down payment will depend on what type of loan you qualify for. The minimum down payment amount on a conventional loan for a first-time homebuyer is 3%, but there are other programs that require 0% down. Also, there are down payment assistance programs to help buyers with their down payment.

In addition to the down payment, you will have closing costs to pay for at the time of closing. Closing costs are typically around 3-5% of the home’s sales price. Like down payment, there are programs and strategies to help buyers pay their closing costs.

Conventional loans require a minimum down payment of 3% for first-time homebuyers and 5% for repeat homebuyers. FHA loans require 3.5% down. VA and USDA loans offer 0% down payment.

What is the benefit of working with a local lender?

A trusted, local lender will be more thorough, providing a pre-underwritten pre-approval compared to an online or large corporate lender. Having a pre-approval letter from a local lender will make your offer stronger because Realtors know lenders reputations for getting buyers all the way to closing. They know that local lenders can communicate directly with underwriting to get your loan approved in less time, iron out any snafus on the buyer’s behalf, and close faster. Additionally, smaller local lenders tend to be more cost effective for the borrower and offer superior customer service than a large corporation.

What are current mortgage rates?
Mortgage interest rates change on a daily basis, sometimes multiple times a day, based on the market. Outside of market influences, interest rates are also calculated based on numerous factors specific to you, such as your credit score, what type of loan program you are using, and what type of property you are purchasing. It is best to speak with a trusted lender who will be happy to assist you.
What documents are typically needed to apply for a mortgage?
While documentation can vary between borrower and loan programs, typically lenders require 30 days’ worth of paystubs, two years’ of W2s, and two months of bank statements. For 1099 employees, self-employed borrowers, or borrowers with rental income on investment properties, lenders will also require two years of tax returns.
What are the different types of loans available?
There are four major types of loans – conventional, FHA, VA, and USDA. A conventional loan is the most common and will be more affordable than FHA for borrowers with excellent credit. FHA is good for borrowers with lower credit or repeat buyers looking to make a smaller down payment. VA loans are reserved for veterans and surviving spouses. USDA loans are available for borrowers with lower incomes purchasing in eligible rural and suburban areas.
How long does it take to buy a home?
Often finding the right home is the longest part of the process. Once you have found the home you love, it usually is around 20-35 days from going under contract to closing.

CONTACT US

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What’s Next?

– You will get a call within 1 working day.
– We’ll discuss your property or home buying needs.
– We can schedule an in-person meeting if necessary.
– You can leave the rest of the work for us.

Email: Lori@LoriJeanHomes.com

Call: (240) 441-2934

Email: Britt@LoriJeanHomes.com

Call: (410) 220-1618