First Time Home Buyer – Property Buying Tips

first time home buyers

Buying a home can be thrilling and nerve-wracking at the same time, especially for a first time Home Buyer —

Here are Six First Time Buyer steps when getting ready to buy, obtain a mortgage and that help make the process go more smoothly.

Check your Credit – Find out what your credit scores are… The better the score the better interest rate and easier way to qualify for a mortgage.

Evaluate assets and liabilities –  A first time buyer should understand a budget, their cash flow of income and expenses. Track your spending.

Organize your documents – Mortgage lenders will request 2 recent pay stubs, the previous 2 years’ W-2s, tax returns and the past 2 months of bank statements and that means every page, even the blank one

Qualifying for a Mortgage –  How much can you afford? Know what you can afford before you go looking for a Home. By calculating debt-to-income ratio and factoring in a down payment, you will have a good idea of what you can afford, both upfront and monthly

Down Payment – A simple rule of thumb about affordability is how you can put together the right down payment.  The better down payment; the more flexibility you have in obtaining the right Mortgage Program for you.

Work with a Realtor with EXPERIENCE! I have over 19 years of selling experience catered to the First time Buyer. I put together the right team to help from getting your Mortgage, Home Inspection and a competent Attorney to represent you in Closing.

Bob Idakaar GRI
WWW.BOBSHOMES
973-713-2377
bob idakaar