- The very first step to buying a first home is making the decision to move forward. If you are here to weigh your options or see what’s available on the market, you’ve taken the first step. You may think that because you don’t have enough to make a downpayment you cannot buy right now, but the truth is, with government programs and loans for first time home buyers, your dream of buying a home can become your reality!
- Now that you have taken the first step, the next step is to start looking at your credit. If you are not sure what your credit report looks like you can get one free once every 365 days. The higher credit rating you have the better. Credit scores are not all lenders look at though, they also look at your job history as well. I also work with some great mortgage professionals that will offer you a FREE home buying evaluation to see what your home buying power is at.
- The following step is to start jotting down what is most important to you in finding your perfect first home. It’s important to be realistic and determine what you need, what you want and what you can definitely live without. You may want to also note if you are willing to put some sweat equity into your new home or if you want a fully upgraded home. I always recommend limiting your must haves to five if possible.
- Next is determining how much you can afford. Not only will you need to look at your monthly mortgage payment, but you will also need to consider how much of a downpayment you can afford - 3.5%,5%, 10%, 20%? There are even 0% Down Homes Available. Again you will want to be realistic!
- If you have not already, you will want to make sure to call me at this point. I can help you find a loan originator to work with that will also help you determine what you are able to afford and will help get you pre-qualified for a loan. Based on your income, where you want to live and some other important factors, there are some first time homebuyer programs that you might not be aware exist. I want to make sure you do!
- Once you are pre-qualified, we will start hunting for your very first home! I cannot wait to get started - can you?
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