A home is not only a place to live and raise a family, it is probably the best investment and best use of your credit you can make. Buying your first home can be both exciting and intimidating at the same time, but hopefully with the help from professionals, a little bit of research and a few very important tips you can minimize the chances of making a mistake that could put your plans of getting the home of your dreams on hold. Here are some mistakes you can avoid:
Pay Attention to Your Credit History. A few months before you begin your home search it is a good idea to clean up your credit history. Checking your credit history for accuracy is also very important as well as keeping your credit inquiries to a minimum.
Know How Much You Can Afford. Your mortgage lender will be checking your income, debts, car and student loans, as well as other factors which can affect the maximum amount you can borrow. It will also help you shop with confidence and focus your time on homes within your realistic budget. A pre-approval letter from your lender can make you look like a serious buyer and can potentially make any offer you present look stronger.
Know ALL the Down Payment Options. There are many government sponsored programs and a variety of lenders who may be able to offer low interest mortgages with as little as 3 or no money down. Your real estate agent or mortgage lender should be able to point you in the direction right for you.
Do Your Homework. Research, ask and inquire about the area you are interesting in moving to. Community resources abound, from local libraries to your local chamber of commerce, town office, maps, neighbors and the Internet. Ask about schools, neighborhoods and get information on events and activities that match your interests and those of your family.
Get Professional Help. Even though there are many resources everywhere that can help you with the process, getting an exclusive buyer representative is key. Ask your family and friends to refer you to a REALTOR® they have worked with, or simply choose an agent who would listen your needs and concerns and who would walk you through the process while protecting your interests.
Ready to start the process or have questions? Feel free to call or email me at any time
~ Wendy :: 603.397.2348