Buying a home for the first time is exciting, but you want to make sure you’re properly prepared. Follow these five steps to ensure you have a smooth and successful home buying experience.
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Buying a home for the first time is exciting, but it can be a bit overwhelming as well. Follow these five steps to ensure a smooth and successful purchase as a first-time home buyer.
1. Work with the right real estate agent. Someone you know may have their real estate license and you may have a great relationship with them, but that doesn’t mean they’re the right person to help you with your first home purchase. Make sure you take the time to interview agents to find the one who will be able to help you with your specific needs.
2. Don’t be afraid to talk to multiple lenders. Again, you might know a lender through a personal relationship, but don’t be afraid to talk to a lender your real estate agent recommends to make sure you’re doing the best thing for you in regard to the purchase of your new home.
3. Mind your credit. There are many outlets to get a free credit report. It’s important that you know what is going on with your credit throughout the entire process of buying your home. Your credit score makes a huge difference in the type of loan and interest rate you will be approved for to purchase the home.
4. Stay at your job. OK, so this is an obvious one, but changing jobs while going through the pre-approval process will harm your chances of getting pre-approved.
5. Don’t make any big purchases during the pre-approval process. Don’t sign up for new credit cards or buy a new car until after closing. Don’t spend money unless your lender says it’s OK. That may sound extreme, but they are there to make sure everything goes smoothly for you.
If you have any other questions about buying a home, or if you have any other questions about real estate, please give us a call or send us an email. We’re here to help.