Top 10 Things FirstTime Home Buyers Need To Know Contact Jeffrey Brown 4072196866
Top 10 Things First-Time Home Buyers Need to Know. For example, did you know this was one of the best times in the history of the United States to be a first-time home buyer? Not only are home prices at their lowest levels in years (some areas have seen prices drops up to 50% in the past few years), but there are other great reasons to buy a home today. Buying your first home is not something you (or anyone) should take lightly. You should be prepared with as much information about the process as you can learn before you begin. You should understand your real estate market and the current mortgage market. The more you know – the better. Should You Get Pre-Qualified or Pre-Approved? Often a mortgage lender will tell a potential buyer they are “pre-qualified” for a loan. This can confuse first-time home buyers, who think they will qualify for that amount. Not likely. With a pre-qualification, little information about your finances is verified (often none). You might find out later that the amount you were “pre-qualified” for is far different than what you actually will qualify for (or even afford). What you need is a “pre-approval” in which more information (your credit and other factors) is checked and you can have a better idea how much you can afford for your first home. With a pre-approval, you’re in a better position to negotiate because the seller knows that your offer is more solid. You’ll avoid wasting time looking at homes outside your price range.
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Top 10 Things First-Time Home Buyers Need to Know. For example, did you know this was one of the best times in the history of the United States to be a first-time home buyer? Not only are home