10 Things to Consider When Buying Your First Home
1 of 10 things to consider when buying your first home, How much can you afford with mortgage, taxes, insurance, and if applies HOA dues.
2 of 10 things to consider when buying your first home, Find a Real Estate Agent Pick an agent that meets your needs and wants in buying your first home.
3 of 10 things to consider when buying your first home, Find a lender There are 3 different types of lenders. Mortgage Banker-the loan is processed in house. The mortgage banker will have there company's name and fund. Mortgage bankers are local banks and credit unions. Mortgage Broker- take your loan application and shops around various mortgage bankers to find the best loan program for your individual situations. Mortgage brokers might not have as much control over the process and loan, since it is not funded in house.Correspondent Lender- they can lend in house but can also shop around for the best loan program for you.
4 of 10 things to consider when buying your first home, How much money are you putting down? Do you know where the down payment is coming from? Do you have it saved up or is someone gifting you the money? If you do not have a down payment, ask your lender about any loan programs that do not require one.
5 of 10 things to consider when buying your first home, How much earnest money are you able to put down as a deposit?The earnest money or good faith deposit goes towards your other costs.
6 of 10 things to consider when buying your first home, What town do you want to live in? Counties have more then one city in them. What town do you want to live in? Or have a couple of towns you can see yourself living in.
7 of 10 things to consider when buying your first home, Do you want to live in a Condo, Single family residence, on acres, ect.
8 of 10 things to consider when buying your first home, Create a wish list a home
9 of 10 things to consider when buying your first home, Separate wants vs. needs
10 of 10 things to consider when buying your first home, Now you are ready to start looking for your first home.
Call or email me if you are ready to purchase a home.
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