Did you know that you actually “skip” your first months payment when you’re buying a home?

Here’s a typical example of the time line:
1) we find your home, negotiate an offer and go under contract on July 15th.
2) we go through the buying process, and close on August 15th
3) when you send your money for the closing to the attorney, one line item is going to be pre-paid interest on your loan
4) your first payment would not be due until October 1st, and then you typically have a 15 day grace period to make that payment. (October 15th)

So in the above scenario, you owned the home and didn’t have to make your 1st payment for TWO months.

This is just one way that an expert realtor can help you strategically manage an offer and help you transition from your rental and into a new home. 🏡

Melissa Young, REALTOR®️SC&NC, Brent Young Team of Call It Closed Realty 704-877-3354

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