Licensed Real Estate Associate 

  Accredited Buyer Representative

Senior Real Estate Specialist

Short Sale and Foreclosure Resource




10 Ways to Prepare for Homeownership


  1. Decide what you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.
  2. Develop your home wish list. Then, prioritize the features on your list.
  3. Select where you want to live. Compile a list of three or four neighborhoods you’d like to live in, taking into account items such as schools, recreational facilities, area expansion plans, and safety.
  4. Start saving. Do you have enough money saved to qualify for a mortgage and cover your down payment? Ideally, you should have 20 percent of the purchase price saved as a down payment. Also, don’t forget to factor in closing costs. Closing costs — including taxes, attorney’s fee, and transfer fees — average between 2 and 7 percent of the home price.
  5. Get your credit in order. Obtain a copy of your credit report to make sure it is accurate and to correct any errors immediately. A credit report provides a history of your credit, bad debts, and any late payments.
  6.  Determine your mortgage qualifications. How large of mortgage do you qualify for? Also, explore different loan options — such as 30-year or 15-year fixed mortgages or ARMs — and decide what’s best for you.
  7. Get preapproved. Organize all the documentation a lender will need to preapprove you for a loan. You might need W-2 forms, copies of at least one pay stub, account numbers, and copies of two to four months of bank or credit union statements.
  8. Weigh other sources of help with a down payment. Do you qualify for any special mortgage or down payment assistance programs? Check with your state and local government on down payment assistance programs for first-time buyers. Or, if you have an IRA account, you can use the money you’ve saved to buy your fist home without paying a penalty for early withdrawal.
  9. Calculate the costs of homeownership. This should include property taxes, insurance, maintenance and utilities, and association fees, if applicable.
  10. Contact a REALTOR. Find an experienced realtor who can help guide you through the process.




Click on the links below for additional helpful tips on buying a home

Updates from Real Estate Industry News

To understand what you want and need in a home.

Do you think you’re ready to buy a home?

Reasons to sign a Buyer Representation Agreement.

Calculate the true cost of Homeownership.

Important steps of a transaction

What buyers should know about compensation, loyalty and shared expectations.

How much should you offer to pay?

FAQ about closing

Traditional versus REO Transactions

Is rent-to-own a good option for you?

Moving Checklist

Fair Housing and your Buyers Rep

The Negotiating Process

Evolution of Buyer Representation

Property Disclosures

5 Steps to Obtaining a Mortgage

Questions to ask when interviewing your ABR

Is a distressed property right for you?

Customer or Client? What is the Difference?  



Real estate news in Westchester County



 If you haven't already chosen a community to move to, there are many factors that you may consider such as schools, distance to work and or family, community resources and activity, etc.


Individual town websites including recreation activities and contacts:

   Town of Harrison

   City of Rye

   Rye Brook

   Port Chester


School Websites:

   Harrison Central School District (includes Purchase)

   Rye City School District

   Blind Brook Public Schools  (Rye Brook)

   Port Chester Public Schools

   Bronxville Public Schools

   Eastchester Public Schools

   Tuckahoe Public Schools

   Search and compare all public and private schools


Transportation Information:

   Metro North Train Schedules

   Hudson Valley Traveler (Traffic, travel and transit info for Westchester)

   Events and News in Westchester


Consumer Protection:

Lead Paint Pamphlet

Property Disclosures





Lisa DeFonce
Rye Brokerage
16 Elm Place, Rye, NY

Phone: 914.967.7680 Ext. 340
Cell: 914.227.5045
Fax: 914-967-7326