Home Buying Mistakes All Home Buyers Should Avoid
Buying your first home is an exciting time. Looking at homes can be so much fun, but buying a home can be a confusing time. We will help guide you through the process and help you avoid any pitfalls along the way. Here are five tips first time home buyers should avoid...
Looking at Homes Before Getting Pre-Approved for a Mortgage
You don’t know how much you can spend on a house until you talk to a mortgage broker about a pre-approval. You don't want to fall in love with a home and find out that it's not in your price range!
Not Hiring a Buyer's Agent
If you work with the listing agent (the name on the sign), their job is to protect the seller. You want to hire your own agent to represent you in the transaction, not the seller. This ensures that someone is looking out for your best interest thoughout the home buying process.
Assuming You Need a Huge Down Payment
There are programs available for no money down, examples are USDA, VA, and some bank programs. There are also low down payment options (3.5% to 5%) with FHA and conventional loans.
Buying a Home for Today Instead of Tomorrow
Are you planning a family? A two-bedroom townhouse or a home with only one bathroom may seem like a good idea until you bring a new baby home. Think about what your three to five-year plan is when you’re looking at homes so you can avoid having to buy again in a year.
Changing Your Finances Before Closing
Applying for more credit, buying a vehicle, or quitting your job can disqualify you for the loan. Don't make any major changes to your finances throughout the transaction so you can make it to the closing table!
Are you considering buying your first home? It’s a great time to stop renting and invest in your own future. If we can help with your search, contact us to get started!
Post a Comment