Puget Sound Home Buying Techniques

Buying a Puget Sound area home is an exciting and important life event. Being a first time home buyer means you will have many decisions to make — and just as many questions that need answering.

Buying your first home is a huge step. These helpful Puget Sound home buying tips may reduce confusion about mortgage payments and the cost of buying a house:

• Get pre-approved – Buyers should always get pre-approved before they begin house hunting. Buyers should get a written pre-approval from a reputable mortgage lender before they start shopping for a home.

• Calculate your mortgage payments – Buyer’s mortgage payments might be the same or less than rent payments. The (principal and interest) monthly payment on a $200,000, 30-year, fixed rate mortgage with an interest rate of six percent (6.25%) is $1,231 — less than what some people pay for rent (taxes, insurance and any other fees, including closing costs, are extra).