First Time Home Buyer Basics

First Time Home Buyer Basics
Just starting to think about buying for the first time? Let’s review the basics that people don’t always realize:

Here’s what you’ll need:
• Enough money to make monthly mortgage payments. If a mortgage payment doesn’t fit your budget, you can’t afford the home. Reach out to us. We can review different homes and what their payments would be with you.
• Remember in your mortgage payment we will be accounting for property taxes and homeowner’s insurance.
• The ability to maintain the property. You must keep a home in good repair or it will lose value and you’ll lose money. You can do the work yourself or hire someone.
• A decent credit record. If you have lots of late payments, student loans you stopped paying, declared bankruptcy or left old debts unpaid, it’s harder to get a mortgage. And if you do get one, your bad credit record will make you pay a much higher interest rate.

Want to learn more about the home buying process? Reach out to us we would be happy to sit down with you and review your needs.

First Time Home Buyer Basics