Top 5 Tips for First Time Home Buyers
Dreaming of owning your first home? You've probably been online already looking for homes in your area. That's great! Here are 5 tips to get you started on the track to home-ownership.
1) Check your credit. Your credit is EVERYTHING when purchasing a home. If your credit is not up to snuff, you're not ready to purchase a home. Lenders use your FICO score to determine percentage rate and type of loan you qualify for. There are many ways to fix your credit and it takes less time then you might think.
2) Find a lender. You need to find out what you're qualified to purchase. Talk to a couple of lenders or mortgage brokers to find the best interest rates and loan structure for your situation. Having a pre-qualification or pre-approval letter stating the amount you are qualified for is an important step.
3) Choose a Realtor®. Find a Realtor® who's experienced and trust worthy. A Realtor is there to protect your interests and their services are absolutely FREE to you, the buyer. Note: A Realtors® commission is paid by the seller.
4) Buyer's consultation. Set up a buyer's consultation with your Realtor® so you can sit down and get a clearer picture of what you are looking for in your first home.
5) Find your dream home. Start searching for houses in your area. Try to see no more than 4 houses per outing. Any more than that can often times be confusing. You can develop what I like to call, "house blur." Take a camera or smart phone and snap pictures of likes and dislikes and take notes.
Follow these top 5 tips for first time home buyers and you'll be on your way to finding your dream home!
Comments(3)