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We are open for business! However, due to the Coronavirus (COVID-19) effective immediately all staff including claims, accounting and customer service are all working remotely. We are here for you via phone or email. Please join us in doing your part to help flatten the curve, and we will be here for your insurance needs. Use our voice mail system and your calls will be routed to the appropriate employee who can assist you during this time. Also please feel free to contact your insurance company directly for any claim reporting or payment issue. During this time, many of the insurance companies are providing options for payments, but you will need to personally call to discuss with a company representative. Thank you and be well.

During COVID-19, the health and safety of our customers is our #1 priority. 
We are following CDC guidelines and taking every precaution to ensure a safe work environment for our clients during this time.

Realtors You Can Rely On

22+ Years Experience | Family Owned | Certified Real Estate Brokerage

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Kathy Ramirez

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House For Sale In North Patchogue

Looking for House for Sale Near Me? Tips for North Patchogue, NY First-Time Homebuyers

Are you looking for houses for sale near me in North Patchogue, NY? If so, you want to work with a realtor that you can count on to help you find a home for sale that will meet all of your needs for a price that you can afford. Power Team Realty Corp., a well established full-service real estate firm, has been helping house hunters throughout Suffolk County find their dream homes for more than 20 years. Our team of licensed and insured realtors can assist you with finding the best homes for sale near me and get you into your forever home. We pride ourselves on offering top-quality service and are dedicated to not only meeting but exceeding, all our clients’ needs. If you’re looking for North Patchogue homes for sale near me now, when you choose Power Team Realty Corp., you can have confidence knowing that you’ll be working with the most courteous, helpful, and knowledgeable real estate agents. We’ll help you find the best property sale options in the area!

Key Tips for Suffolk County First-Time Homebuyers

Buying your first home is certainly exciting, but it can also be pretty nerve-wracking – especially if you’re looking for houses for sale near me in Suffolk County, where properties are literally coming off the market almost as quickly as they’re listed.

With the market moving so quickly, you might be tempted to jump on a house for sale that seems to appeal to your needs just so that you don’t miss out on an opportunity. However, a home is one of the biggest and most important purchases you’re ever going to make – especially your first home – so you want to be sure that you’re making the right decision. Make a rash move decision and there’s a good chance you’ll end up regretting it.

Buying a home requires careful thought, consideration, research, and planning. Since you’re new to the process, you’re probably thinking to yourself, “Where do I start?”

To help make the process of buying your first home a little less overwhelming, keep on reading for some tips that will help set you up for success.

Figure Out How Much You Can Afford to Spend

Before you start looking for any property for sale near me, you’ll want to figure out how much you can afford to spend. The last thing you want to do is fall in love with a house and then find out that it’s out of your price range; or worse yet, everything goes through and you end up being house poor.

Sit down and go through all of your current expenses compared to your income to figure how much you have leftover and can put toward a house. Obviously, you’ll need to have enough to cover the mortgage and property taxes, but there are other expenses that many first-time homebuyers overlook; homeowner’s insurance and utilities, and if applicable, homeowner’s association (HOA) and private mortgage insurance (PMI) fees. You’ll also want to leave some wiggle room in your budget so that you can cover any upgrades you might want to make or repairs that may come up unexpectedly.

Investigate Mortgage Options

Unless you have a sizeable amount of savings and can pay cash for your house, you’ll need to take out a loan. In order to qualify for a conventional loan, most lenders require a down payment of at least 20%; however, there are options available that require single-digit down payments but do be advised that you will have to pay PMI on top of your mortgage payment, which protects the lender if it turns out that you can’t you’re your payments. Typically, PMI costs are about 1% of the total value of a home loan, and it’s tacked onto your monthly mortgage payment.

If you’re looking for a Suffolk County house for sale right now and you don’t have a 20% down payment saved up, don’t worry! There are first-time homebuyer assistance programs available that provide down payment assistance, such as deferred or low-interest loans, grants, and even forgivable loans. Some programs offer closing cost assistance, as well. Examples of the home loans that allow smaller down payments include:

  • FHA loans. The Federal Housing Administration (FHA) provides mortgages with down payments as low as 3.5%.
  • VA loans. If you or your spouse are an eligible veteran, you may qualify for a Veterans Administration-sponsored mortgage that requires no down payment and no PMI.
  • GSE loans. Government-sponsored enterprise loans, including Fannie Mae and Freddie Mac, insure mortgages with an approximate 97% loan-to-value ratio, which means that if you qualify, you’ll only have to put about 3% down.

Get Preapproved for a Mortgage

Once you’ve explored the different loan options that are available, get pre-qualified for a mortgage before you start to search for properties for sale near me. A preapproval will show sellers that you’re serious about making a purchase, and since the Suffolk County market is so competitive, that’s really important.

In order to get preapproved for a mortgage, the lender will have to verify details that pertain to your finances. They’ll also need to submit your mortgage for preliminary underwriting. If you are preapproved, you’ll receive a letter that details how much you are eligible to borrow for a mortgage so that sellers can see that you can secure the finances to make a purchase.

Find the Right House

Now you’re ready to start looking for a house for sale near me. Make up a list of “must-haves” and “would-likes” for your first home. Remember, you’re probably going to have to make compromises, especially with your first home, so really think about the features that matter most to you, such as the location, the size, the number of bedrooms and bathrooms, and the layout. You’ll want to focus on properties that are in your price range and tick off those “must-have” boxes. If you can find a property that meets the most vital requirements and offers some of the “would-like” features on your list, that’s an added bonus.

You can do some preliminary research online to see what’s available and send listings that interest you to a reputable realtor, or you can work with a real estate agent right from the start. Working with an experienced agent from an established real estate firm is so important, especially when purchasing your first home, as an agent will help to guide you through the process and make it a lot easier and more enjoyable.

Power Team Realty Corp.: Suffolk County’s Most Trusted Real Estate Firm

If you’re getting ready to purchase your first home and you’re looking for a reputable real estate agent, contact Power Team Realty Corp., a leading Suffolk County real estate firm. We’ll pair you with one of our highly experienced, knowledgeable, and friendly agents, who will walk you through the entire process and get you into the perfect home. To learn more about our services or to schedule a consultation, please call 631-231-8000 or visitwww.PowerTeamRealty.com today!

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