If you’re looking to buy a home in Rio Rancho, or anywhere in New Mexico, the first thing you need to do is prequalify for a loan. Without this piece, we won’t know what kinds of homes to look at. If you have a personal lender already, that’s great. Or, if you want a referral for a mortgage lender that we know and trust, we’re happy to connect you. Once you’re preapproved for a loan, the fun part of looking for a home begins.

There are lots of options when it comes to loans, many of which are between 3-5% down. Some conventional home loans require that you put 20% to ensure that you don’t have to pay mortgage insurance. When you share your financials with your lender, they’ll be able to give you a clear idea of what loans you qualify for and how much you will need to put down.

It is possible to buy or sell a home without a real estate broker in Rio Rancho. But, these situations are rare, have a lot of potential risk, and require that you organize all the details that a realtor would take care of. When you work with a realtor, they’ll take of all the logistics including paperwork, coordinating with the title company, negotiations, home inspections, and more.

Yes, as a Rio Rancho real estate brokerage, we have a lot of experience working with certain lenders that we trust implicitly and we would be happy to connect you. Just reach out and ask! We don’t get any monetary gain from working with these lenders, we just trust the process with go smoothly and we already have a good working relationship with them. You’re also more than welcome to use your own lender in the home buying process as well. We also have a vast network of real estate attorneys, CPAs, general contractors, and tradespeople we can connect you with that can make the home buying and selling process as smooth as possible.

Yes, you can, and investing in real estate is something we specialize in. There are a number of ways you can take equity out of your home to purchase an investment property. As a Rio Rancho real estate brokerage, we have preferred lenders that can help you figure out the best way to get into real estate investing with the assets you have currently. There are also options like hard money lending owner finance contacts that we can explore.