REAL ESTATE FROM A HOMEBUYER'S PRESPECTIVE
Tips for Buying a Home
1. Pay Off All Debt and Make No BIG Purchases. - Keep debt low and income high.
2. Determine How Much House You Can Afford -What do you want your monthly payment to be?
3. Save a Down Payment 5-20% -Smaller down payments could be subject to Private Mortgage Insurance.
4. Save for Closing Costs
-Typically 3-6% of the home value.
5. Get Pre-approved for a Loan
-Shop around Mortgage companies for the right fit, interest rates, and ask what buyer assistance programs they offer.
6. Determine what you are able to afford. -Most lenders will compare debt to income ratio to determine how much of a loan you are qualified for.
7. Research Neighborhoods for Best Fit. -Take a drive-by, pictures, video...do your research.
8. Get a professional Home Inspection ALWAYS
9. Make sure to use a professional Realtor to help guide the way!