George Tillerson provides information and details that people should take into consideration before buying a home.

NEWPORT NEWS, VA, UNITED STATES, March 15, 2021 /EINPresswire.com/ -- Today's housing market is more complicated than ever, thanks to major changes to the economy, the pandemic, and sociopolitical issues. George Tillerson is an industry expert who is helping people get prepared for the process of buying a home to help them have the best odds for approval and prevent any surprises along the way.

George Tillerson on Home Loans

Over the years, George Tillerson has worked in several capacities related to the housing market and is a co-owner of American Escrow and Title Company. His mission is to help individuals learn the ins and outs of the industry and ensure they are fully prepared to undertake the process of purchasing the home of their dreams. His time as a former real estate attorney allowed him to gain the insight necessary to guide others, but he now works directly with buyers to guide them through preparations.

One thing to keep in mind is you must have a steady, stable full-time job with verifiable income through the length of the time you're employed. Additionally, prospective home buyers must also have enough money to provide a down payment. This figure can range from 3% to 10% on average, but that figure may fluctuate according to each individual's situation. It's also important to ensure homebuyers have a good credit score before applying for loans because it can have a substantial impact on the interest rate. Home loans are generally offered for either 15 or 30 years, and interest payments can add up quickly for those who have a higher rate. Essentially, the higher the credit score, the lower the interest rate on a home loan.

Be Ready for Plenty of Footwork

Finding and closing on your first home is not an easy task in most cases. It takes plenty of footwork, research, and preparation to obtain the results you desire. George Tillerson desires his home buyers to be prepared for a potentially lengthy process. It may take a great deal of research to not only find the right home but also obtain the right terms for a loan. This is why having your personal affairs in order to begin the process is critical to avoid rejections or complications. Starting the process as soon as personal details and finances are in order will ensure the best outcome.

Caroline Hunter
Web Presence, LLC
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