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Tips on Getting Great Deals for First-Time Homebuyers: An Interview with Josephine Traina

By Josephine Traina

Tell us a little bit about your company and the services you offer.

Services provided by Josephine Traina, Carolina One Real Estate. Over 30 years of full real estate brokerage representation for buyers or sellers. As members of Leading Real Estate Companies of the World, we can refer a Top Broker anywhere in the United States or the world.

What are the most common misconceptions that first-time homebuyers have about home loans?

Common misconceptions first time homebuyers have about loan process

That they do not need to get pre qualified and have all their paperwork in order before they go to contract.

What are the basics points people should know about home buying?

Before you buy, can you sell the home in two years.

Always work with an experienced REALTOR who is a member of the National Association of REALTORS and a local Board of REALTORS as well. All REALTORS are bound by a Code of Ethics.

Make sure you use an ABR, an Accredited Buyer Representative, who is working on your behalf at all times.

What's the most important thing that banks will be looking at in the application?

Revolving debt, late payments, dings to your credit report, Your credit score is very important. You can go to www.creditkarma.com and get a free report from all 3 reporting agencies.

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What are some of the biggest regrets you've seen first-time home buyers have when it comes to the mortgage process?

Biggest Regrets first time home buyers have in the mortgage process.

That they did not have all their paperwork in to the loan officer at the very start of the home buying process.

Many do not get instruction from their REALTOR, many regret choosing a part-time or new realtor that does not represent them well or explain the entire process.

Fixing their credit before, not during the contract process.

Not taking the time to get two years tax returns, bank statements, all outstanding loans, all this information to the loan officer before contract.

Having a Buyer's Broker is a free service to home buyers. The seller pays the real estate commission. If a home buyer calls an agent off of a sign, that agent represents the seller. It is essential that each buyer have their own representation.

What advice would you give to first-time homebuyers in South Carolina to help them get the best loan terms as quickly as possible?

Advice first-time home buyers in State of South Carolina

Check monitor your credit and fix problems before you start looking at houses.

Find a home with a monthly payment you can afford.

Put aside enough cash to pay for down payment, earnest money deposit, appraisal, prepaid interest, closing costs, upfront escrow property taxes and insurance.

Put aside 2-6 months of reserves equal to new house payment

What's the best way for people to contact you and your company?

Best way to contact me, is go on to my website. www.josephinetraina.com josephine@carolinaone.com or 843-793-4023

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