Thinking about buying a home?

We can help navigate the complex world of real estate to help selling and buying a new home as smooth as possible.

Buying With NEA Property Experts

Access To Listings

Our team of experienced real estate professionals has access to some of the most comprehensive and up-to-date real estate data available. With access to multiple listing services and premium accounts at top real estate websites, we can provide you with the most accurate and current information about available properties in your desired area. This allows us to help you find the right home that meets your needs and budget quickly and efficiently.

Moreover, our extensive network of contacts and partnerships with other real estate professionals in the area further enhances our ability to find properties that meet your specific criteria. This network allows us to access off-market listings and upcoming properties that may not be available through traditional channels.

Property Analysis

We understand that finding the perfect home is a significant investment, both financially and emotionally. That’s why we offer an in-depth analysis of every home to make sure you are getting a fair price and the property meets your unique needs and desires.

Our team of experienced real estate professionals conducts a thorough analysis of each property, taking into account factors such as location, size, age, and condition, as well as current market trends and recent sales data. We provide you with a clear understanding of the fair market value of each property you are interested in, and we work with you to develop a pricing strategy that aligns with your goals.

As your advocate, we are committed to ensuring that you get the best possible value for your investment. We will guide you through the entire buying process, from finding the perfect home to negotiating on your behalf during the home inspection and closing. Our goal is to ensure that you feel confident and empowered throughout the process, knowing that your interests are being protected.

Finding A Lender

Looking for the right lender to help finance your home purchase can be overwhelming. With so many options available, it can be difficult to know where to start. That’s where we come in. As your trusted real estate agent, we can help guide you through the process of finding the right lender for your needs.

We work with a network of reputable lenders and can connect you with one that will provide competitive rates and terms that suit your unique situation. We understand that securing the right financing is a critical step in the home buying process, and we are committed to helping you find the right lender to make your dream home a reality.

We can assist you with pre-qualification and pre-approval, and help you understand your financing options so you can make an informed decision. Don’t let the stress of finding a lender hold you back from buying your dream home. Let us help you navigate the process and find the right lender to help you secure the financing you need.

Your Advocate During Negotiations

When it comes time to negotiate on your behalf, you can count on us to be your trusted advocate. We leverage our extensive experience and knowledge of the local real estate market to ensure that you get the best possible outcome.

We understand that negotiations can be stressful, which is why we are committed to providing you with exceptional service and working tirelessly to secure a fair deal that meets your needs. Our goal is to ensure that you feel confident and comfortable with the negotiation process, knowing that you have a trusted advocate who is working tirelessly to protect your interests.

With us by your side, you can feel confident that you have a partner who will be there for you every step of the way. We are committed to helping you achieve your real estate goals and ensuring that your interests are protected throughout the negotiation process.

Your Advocate During Inspections

we understand that the home inspection is a critical step in the home buying or selling process. That’s why we are committed to being your advocate during home inspections.

We will attend the inspection with you, providing valuable insight and guidance as you review the inspector’s findings. Our extensive knowledge of home construction and the local real estate market allows us to identify any issues that may arise and help you understand the implications of each item. We’ll help you determine which items are minor and can be addressed by the seller, and which items require further attention.

Our goal is to ensure that you have a thorough understanding of the property’s condition and any potential issues that may arise. With us by your side, you can feel confident that you have a trusted advocate who will work tirelessly to ensure that your interests are protected.

Buyer's Knowledge Base

Reading up on these will boost your confidence before diving in

Key Terms

Familiarize yourself with these terms

APR is the total cost of borrowing money, expressed as a percentage of the loan amount, and includes not only the interest rate but also any additional fees associated with the loan such as closing costs and points.

When shopping for a mortgage, it’s important to compare APRs from different lenders as this will give you a more accurate idea of the total cost of the loan. Keep in mind that the APR is based on a number of factors including credit score, down payment amount, loan term, and loan type. By understanding and comparing APRs, you can make an informed decision on which mortgage loan is right for you and your budget.

You may come across the term “appraisal” during the home buying process. An appraisal is a professional evaluation of the value of a property conducted by a licensed appraiser. The purpose of an appraisal is to determine the fair market value of the property to ensure that it is worth the amount of money being loaned for the purchase. The appraiser will assess various factors, such as the property’s location, size, condition, and comparable home sales in the area, to determine the property’s value. Lenders require an appraisal before approving a mortgage to protect themselves from lending more money than the property is worth.

Closing, in real estate, refers to the final step in a home purchase transaction where the ownership of the property is transferred from the seller to the buyer. During the closing process, all necessary legal and financial paperwork is completed, and the buyer pays any remaining closing costs and fees. Once the transaction is complete, the buyer receives the keys to their new home.

Closing costs are fees associated with the purchase of a property that are paid at the closing or settlement of the real estate transaction. These costs typically include fees for services provided by lenders, attorneys, and other parties involved in the transaction. Examples of closing costs include title insurance, appraisal fees, loan origination fees, inspection fees, and recording fees. It is important for first-time buyers to understand the total amount of closing costs associated with their purchase, as these costs can significantly impact the final amount they need to pay at closing.

A contingency is a clause in a real estate contract that outlines specific conditions that must be met in order for the sale of a home to be completed. These conditions can include things like passing a home inspection, securing financing, and selling a current home. If a contingency is not met, either party can back out of the sale without penalty. Contingencies provide protections for both buyers and sellers in the home buying process.

DTI ratio is a financial term that refers to the percentage of a person’s monthly income that goes toward paying debts such as credit cards, car loans, and student loans. For a first-time home buyer, their DTI ratio is an important factor that lenders consider when deciding whether to approve their mortgage application. It is calculated by dividing the total monthly debt payments by gross monthly income. The resulting ratio is expressed as a percentage and is used to assess the borrower’s ability to repay the mortgage loan. Typically, lenders prefer a DTI ratio below 43%.

A down payment is a portion of the total price of a home that a buyer pays upfront as part of the purchase. It is typically a percentage of the home’s purchase price and is paid in cash at the time of closing. The down payment is not part of the loan amount and must be paid separately. Generally, the higher the down payment, the lower the monthly mortgage payment will be. The size of the down payment required varies depending on the type of loan and the lender, but first-time homebuyers may be able to qualify for programs that allow for lower down payments.

Escrow is a financial arrangement in which a third party holds and regulates payment of the funds required for two parties involved in a transaction. In real estate, an escrow account is typically set up by the buyer’s lender to hold funds for property taxes and insurance. The funds are held until certain conditions are met, such as the completion of home inspections or repairs, and then released to the appropriate party.

A mortgage is a loan that is taken out to purchase a property. It is typically repaid over a period of years, with interest added to the principal amount borrowed. The property being purchased is used as collateral for the loan. A mortgage payment typically includes both principal and interest, as well as additional costs such as property taxes and homeowner’s insurance.

“No money down” refers to a type of mortgage that allows the buyer to purchase a home without making a down payment. These types of loans are usually backed by the government and are available to eligible homebuyers who meet certain requirements, such as income limits and creditworthiness. The idea behind a no money down mortgage is to make homeownership more accessible to people who may not have enough money saved up for a traditional down payment. However, it’s important to note that these types of loans often come with higher interest rates and other fees to compensate for the lack of a down payment.

Prequalification is the initial step in the mortgage process where a lender will assess a borrower’s financial situation and estimate how much they may be eligible to borrow. This is typically done through a simple application process where the borrower provides basic financial information such as income, debt, and assets. Prequalification does not guarantee a loan, but rather provides a rough estimate of how much a borrower may be able to afford when shopping for a home.

Pre-approval is a process where a lender evaluates a borrower’s creditworthiness, financial history, and employment information to determine the amount of mortgage they can qualify for. The lender will provide a written statement confirming the maximum amount of money they are willing to lend to the borrower. Pre-approval gives the borrower a better idea of how much house they can afford and strengthens their bargaining power during the home buying process. It is different from prequalification in that prequalification is only an estimate of how much a borrower might be able to borrow based on their self-reported financial information.

The principal is the amount of money borrowed to purchase a home, excluding interest and other fees. In other words, it’s the amount you owe on your mortgage. Your monthly mortgage payments will go towards paying down the principal amount, as well as interest and any other fees that may apply. Over time, as you make regular payments, the principal balance will decrease. Understanding the principal of your mortgage is crucial for creating a budget and planning for your financial future.


A deeper dive into all things financial

When it comes to financing a home purchase, there are several options available to buyers. The two popular types of mortgages are conventional and government-backed loans. 

  • Conventional mortgages are not guaranteed by the government, which means that lenders assume all the risk associated with the loan. This may lead to stricter qualification requirements and higher interest rates. However, some conventional loans targeted at first-time buyers require as little as 3% down. This can make it easier for buyers to enter the housing market with a smaller initial investment.
  • Government-backed loans such as FHA, USDA, and VA loans offer buyers more flexible options with lower down payment requirements.
    • FHA loans are insured by the Federal Housing Administration, which allows lenders to offer loans with down payments as low as 3.5%. These loans are designed to make homeownership more accessible to first-time buyers and those with lower credit scores.
    • USDA loans, on the other hand, are guaranteed by the U.S. Department of Agriculture and are designed for rural home buyers. These loans usually require no down payment, making it easier for buyers in rural areas to purchase a home.
    • VA loans are guaranteed by the Department of Veterans Affairs and are exclusively available to active and veteran military service members. These loans usually require no down payment, making it easier for those serving or veterans to obtain homeownership.

Ultimately, the type of mortgage that is right for you will depend on your unique financial situation and homeownership goals. It is important to consult with a trusted lender to explore your options and find the mortgage that is best suited for your needs.

Choosing the right mortgage term is an important decision for any home buyer, and there are several options available. The most popular mortgage term is the 30-year fixed-rate mortgage, which has a fixed interest rate and is paid off over 30 years. This option is often preferred by buyers who want a predictable monthly payment and plan to stay in their home for the long term. However, the interest rates for 30-year loans are typically higher than other mortgage options, resulting in a higher overall cost of borrowing.

For buyers who want to pay off their mortgage faster and pay less interest overall, a 15-year fixed-rate mortgage may be a better option. While the monthly payments are higher than a 30-year loan, the interest rate is often lower, resulting in a lower overall cost of borrowing. This option is ideal for buyers who want to build equity quickly and have a shorter timeline for paying off their mortgage.

When interest rates are on the rise, an adjustable-rate mortgage (ARM) may be a consideration. ARM rates are often lower than fixed rates, which enables you to purchase a more expensive home while keeping your monthly payment the same. However, ARM rates can increase (or decrease) over time, making it difficult to budget for future payments. It’s important to understand the terms and conditions of an ARM before making a decision to ensure that you can handle any potential rate adjustments.

When thinking about home affordability, aim to limit housing expenses to 28% of your monthly gross income, including mortgage payments, property taxes, and homeowners insurance. It’s also important to consider your total debt-to-income ratio (DTI), which includes all monthly debt obligations, such as car and student loan payments. A good DTI for qualifying for a mortgage is 36% or below, but a lower DTI allows for better budgeting and comparison shopping for a home loan.

When buying a home, it’s important to consider all your options. While a detached, single-family home is the most traditional option, it may not be the best fit for everyone. Condominiums, townhomes, and manufactured homes are all alternatives that can be more affordable, offer unique amenities and lifestyle benefits.

Condominiums and townhomes, for example, can offer a sense of community and shared amenities, like a pool or fitness center. Manufactured homes can provide affordability and flexibility, as they are often located in mobile home communities that offer affordable living options. Ultimately, it comes down to considering your budget and lifestyle to decide which type of home is right for you. Taking the time to explore your options can lead to finding a home that meets all your needs, while also being within your budget. We can definitely help you with this process.

Each city has unique neighborhoods with their own unique characteristics. Your preferred lifestyle will likely play a major role in where you choose to live. Consider factors such as your commute to work, desired nearby amenities, and the type of neighborhood you prefer – such as a lively area with restaurants within walking distance, or a quieter suburban neighborhood. These considerations will help guide you in finding the perfect location to call home.

Market analysis is the process of examining current market conditions and trends to compare properties in the area, recent sales data, and an assessment of current market trends such as buyer demand and interest rates. This information can help buyers and sellers make more informed decisions about pricing their property, determining the best time to buy or sell, and assessing potential investment opportunities. Learn more about how we can help you with market analysis to fit your needs!

A down payment assistance program is a type of financial assistance provided to home buyers to help them cover the cost of their down payment. These programs are often offered by federal, state, or local governments, as well as non-profit organizations and private lenders. The assistance may come in the form of grants, loans, or other types of financial aid, and may be available to first-time home buyers or to those who meet certain income or location requirements. Down payment assistance programs can help make home ownership more affordable and accessible to those who may not have the necessary funds for a down payment.

Listing Terms & Abbreviations

Must know lingo for browsing the listings

  • 4B/2B: Four bedrooms and two bathrooms
  • Dk: Deck
  • EIK: Eat-in kitchen
  • FDR: Formal dining room
  • Frplc, fplc, FP: Fireplace
  • FSBO: For sale by owner
  • HDW, HWF, Hdwd: Hardwood floors
  • LR: Living room
  • W/D: Washer and dryer

The status “active” means that the property is currently available for sale and open for showings and offers. This means that the seller is actively seeking buyers and willing to consider offers. It’s important to act quickly if you are interested in an active property, as it may receive multiple offers or sell quickly.

“Back on market” refers to a property that was previously under contract but for some reason, such as financing or inspection issues, the contract was terminated, and the property is now available again for sale. This status indicates that the property was previously unavailable but is now back on the market and open to new offers.

“Closed” in the context of buying a home refers to the final stage of the home buying process, where the ownership of the property is transferred from the seller to the buyer. At the closing, the buyer and seller sign all necessary paperwork, the funds are transferred, and the keys to the property are handed over to the buyer. After the closing, the sale is considered complete, and the buyer officially owns the property.

“Expired” status on a property listing means that the listing agreement between the seller and the listing agent has ended, but the property was not sold and the agreement was not renewed. This means that the property is no longer actively for sale and the seller may decide to relist the property at a later time with the same or a different listing agent.

“Pending” means that an offer has been accepted by the seller and the property is in the process of being sold. However, the sale is not yet final, and there are still a few steps that need to be completed before the transaction is complete. This may include inspections, appraisals, and the final approval of the mortgage loan. It’s important to note that a pending status does not necessarily mean the sale will go through, as there is still a chance that the deal could fall through due to unforeseen circumstances.

TOM refers to a status that a property listing can have when it is no longer available for showings or offers. This can be due to a variety of reasons, such as the sellers wanting to take a break from the selling process, making necessary repairs or upgrades, or waiting for a specific event or circumstance before continuing the sale. When a property is temporarily off the market, interested buyers cannot view or make offers on the property until it becomes active again.

“Under contract” is a term used to describe a stage in the home buying process where a buyer has made an offer on a property, and the seller has accepted that offer. At this point, the buyer and seller are legally bound to complete the transaction, subject to any contingencies that may be in place. The property is no longer considered available for sale, and the sale is pending finalization, which typically includes inspections, appraisals, and financing.

“Withdrawn” typically refers to a status given to a property listing that has been taken off the market by the seller or listing agent. When a property is listed for sale, it is considered “active” on the market. If the seller decides to take the property off the market before it is sold, they may choose to have the listing status changed to “withdrawn”. This could be due to a variety of reasons, such as a change in circumstances or a decision to wait until a more favorable time to sell. Once a listing is withdrawn, it is no longer actively being marketed for sale.

More Tips


Answers to some frequently asked questions.

The cost of a home inspection may very depending on location and the size of the home, on average, a home inspection in northeast Arkansas costs between $200 and $400. As a seller, it’s important to understand that the cost of a home inspection is typically the responsibility of the buyer. However, it’s still important to consider the potential impact of any issues found during the inspection on the sale of your home. It’s better to be aware of any potential problems and address them beforehand, rather than risking a lower offer or the sale falling through altogether.

The commission for a real estate agent is generally around 6% of the sale price, with a portion going to the buyer’s agent. Some may question the amount of the commission, but it’s important to remember that agents don’t get paid by the hour or by appointment. They only get paid when they make a sale. For every hour spent with a client, agents typically spend around nine hours working behind the scenes. This includes networking, finding potential buyers, and handling paperwork, among other tasks.

Determining how much of a mortgage payment you can afford is an important step in the home-buying process. A general rule of thumb is that your mortgage payment should not exceed 28% of your gross monthly income. This is known as the front-end ratio. Learn more here about how to determine how much of a mortgage payment you can afford. 

Considering how much to spend on a house is a challenging prospect, but we are here to help guide you through the process. Some first time buyers may simply go with what ever number their lender gives them. This can lead to complications such as having a mortgage that is far too expensive. To avoid living that nightmare, don’t take on a mortgage with payments that are more than 25% of your monthly take-home pay. This includes considering expenses such as property taxes, homeowner’s insurance and (depending on your situation) private mortgage insurance and homeowners association dues. 

Generally, closing costs are 2–5% of your home’s purchase price in closing costs. For example, if you’re buying a $300,000 home, you might have to pay $6,000–15,000 in closing costs. It is important to be sure you save up a separate amount for closing costs before buying a house.

When speakers or educators ask “Any questions?” and the audience is silent, its generally attributed to the fact no one know what exactly to ask. Asking the right questions can give you the knowledge to make a better informed decision on buying a house. While there is no “perfect” list of questions to ask, we can help you with making inquiries to sellers about what you need to know before you buy a home. 

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