Tips for First Time Home Buyers
If you have decided it’s finally time to start looking for a home to call your own, but you have no idea where to start, you might want to pay attention to this blog post! We have a couple tips for those of you looking to buy in the near future!
Save, Save, Save & Watch Your Credit Score
- Most people know buying a home can be expensive, but there are a few things you can do before you offer on a home that can set you up for success financially. Watching what you spend your money on, saving your bonuses from your job and selling things you don’t use can help you keep a nice nest egg for when you are ready to buy! You will need money for your down payment, closing costs and move-in expenses. You also need to keep an eye on that credit score and NOT take out several loans right before you want to buy. Keeping your debt-to-income ratio low is SUPER important and lenders do have specific requirements for you to qualify when it comes to your credit score.
Shop with Mortgage Lenders
When you start trying to get pre-approved for a loan, ask your lender if there are any down payment assistance or first time home buyer programs you qualify for. Then, shop around a bit on interest rates and see who has the best program and rate that fits your financial budget! You can also show the lender what another lender is offering to see if they can match it, if you like a specific lender better!
Use a Real Estate Agent
Using a real estate professional is HUGE when you are new to the home buying process. A Buyer Agent is generally paid by the seller, so they can help at mostly no cost to you! You can get advice, ask pricing questions, home buying questions and have someone who is truly on your side to represent you on one of the biggest transactions of your life! Plus, if they are a smart agent, they have help with keeping track of dates and timelines when you go under contract and use Empower Transactions! This means you have multiple people making sure you are able to close on time and making the process seamless!
Are you an agent wanting more info on how we can help with deadlines, paperwork and keeping your clients informed/happy? Click below and get started! We would love to help elevate your business and leverage your time!!