First Time Home Buyer Tips on Buying A Home
Buying a home can be thrilling and nerve-wracking at the same time, especially for the first time home buyer —
Here are Six First Time Home Buyer tips when getting ready to buy and obtain a mortgage that can 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 – As a first time home buyer, you should understand your budget and 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 helping the First Time Home 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, Real Estate specialist for 1st time buyers.
Buying your first home? Curious about the process?
Looking for a great experience buying your first home???
Please take advantage of my years of experience and expertise in finding that perfect
Bob Idakaar GRI
Your First Time Home Buying Expert