Congratulations, you've made the decision to purchase your first home! Feeling a little jittery, anxious and nervous? Well don't be! With the knowledge you gain from us here, you will soon feel like a seasoned pro!
T
ip # 1: Do Your Homework
The best way to find out what your financing options are in Richmond VA such as, down payment requirements and interest rates, is to do your homework. Start by comparing offers from various local lenders like Joni Moncure with Movement Mortgage or Connie Bachman with C&F Mortgage. Find out what current offers are available to first-time home buyers such as grants and 100% financing loans.
Tip # 2: Get Your Credit Numbers In Order
Protect your credit, protect your credit, protect your credit!
Before even applying for your loan, request a copy of your credit file from each of the three major credit reporting agencies; Experian, Equifax and TransUnion. Make sure that the information contained in your credit report is accurate and up-to-date. If it isn't, get it fixed. I
f your numbers need improving, look at how you can make them better. When you apply for a loan, your lender will access a copy of your credit report. Your lender will use this information to determine if it safe to give you a loan and at what interest rate. Poor credit means a higher interest rate is some cases.
Lenders will also look at your current debt to income ratio in order to determine whether or not you can afford the home. You might want to consider paying down some of your existing credit card debt and avoid taking on any new debt before applying for a mortgage. Your local lender will be more than willing to help guide you in the right direction to achieve home ownership. You have two great options above!
Tip # 3: Start Your Search
Ok so now you’re pre-qualified to purchase a home and you know exactly how much your lender will allow you to finance. So what’s next?
Well, it's no surprise that most potential home buyers start their search online. A Realtor's web site, like the one we have at The Murray Morris Group, is designed to not only show local listings that are currently for sale, but to also educate a buyer as they move through the process of searching for a new home. You get to look at color photos and virtual tours, both interior and exterior, along with all the relevant information pertaining to the home itself.
When you're finally ready to meet with a local Richmond VA REALTOR, you will already have one or more prospects in mind. And if they’re anything like the agents at The Murray Morris Group, they'll find you more to see that are exactly like what you want!
Tip # 4: Take Notes
As you start your search, plan on seeing a few houses before finding the one you want to call home. A great agent is not simply going to be a door opener for you. Your agent’s job is to help you find the home you want to purchase. The best tip for showings is to reduce the amount of homes you see at one time. Typically 5-7 homes per showing, or else the unique features that each home offers begin to jumble together. Ask to only see house you can imagine seeing yourself living in with your family. If one interests you feel free to drive around the neighborhood to
see if it’s a good fit before your showings, take photos, or jot down notes in a notebook. Let’s be honest, unless you have a photographic memory, you’re going to start wondering which house had the perfect master suite, the perfect kitchen, the great view out the kitchen window or the one with the fenced in yard! When it comes time to make your choice, these notes and photos will make sure you feel confident in what you selected.
Tip # 5: Have Patience and Don't Settle
Don’t let your agent or the market force you to settle! This is going to be one of the most important decisions and investments you have ever made. You may walk into the first home on your search and it's "love at first sight" (which happens more often than you might think, especially when you’re working with a great agent who listens to you). Then again, it might take weeks and dozens of houses later to find your dream home. As a first-time home buyer, it's a good idea to begin the process with an understanding that good things really do come to those who wait. This will be your first home, make sure you get what you want. You may have to 
compromise on a few minor things, but avoid purchasing something because you feel you won't find what you’re looking for. New homes come on the market every day. Yours is waiting for you to find it!
Looking for the Best Agent in Richmond Va?
Are you in the market to buy or sell a home in the Richmond, Virginia area? The Murray Morris Group specializes in catering to the needs of each and every one of our clients. You can read their testimonials here. Put your trust and valuable time in the hands of industry experts! Give us a call today! We’ll work diligently on your behalf by putting your needs at the forefront of every transaction.
Shannon Murray & Scidney Morris
Contact us at 804-874-5030 or email mmg@themurraymorrisgroup.com
Legendary Service | Exceptional Results | Clients for Life!
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