Buying your first home is a very important transaction and a big investment. There are certain steps you can follow to help make the whole process of buying your first home go a lot smoother.
- Make sure your credit is in good standing as lenders look at that to determine if you qualify for a mortgage. They base their decision on your income, your assets, your employment and your credit score.
- Create a budget for yourself and start saving your money for the costs associated with owning a house.
- Get pre-approved for a mortgage so you know how much you can afford to pay for a house.
- Find a competent real estate salesperson to represent your interests and help you negotiate.
- Be sure to have the home inspected by a professional home inspector to look for serious issues.
“Compare Lenders.” This is a really helpful tip for first-time home buyers indeed. As excited as they are to start looking for a new house, they might just jump in at the first financing company that offers them a mortgage. Well, considering you get to find one that’s really reliable, it’s still best to always have your options open. A house is a lifetime investment; we must make sure we are spending our money only on the best.
ReplyDeleteSage Leung
Hello Wendy! Thanks for the helpful tips. If I may add, price should not be your only consideration. Maybe one estimate is actually lower but what someone saves on legal fees, often pales in comparison to the peace of mind and real dollars in savings that you can get by receiving good advice. Kathleen Salazar
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