First Time Home Buyers
Buying your first home can be very intimidating, but there are some steps that can be taken to alleviate some of the fear, and make sure that you go in with some prior knowledge about the process.
1. First, and foremost, find out how much you can comfortably afford in monthly payments. Use our mortgage calculator to get a basic idea of the amount; however, you will have to consult with your loan broker in order to get exact numbers, and make a final decision. This will of course depend not only on your income, but also the amount you will be able to place as a down payment.
2. Once you have figured out how much house you can afford; you can start figuring out the areas in which you will be able to afford a home. List the things that are important to you, like school, parks, proximity to the beach, and other such details, and make a list of the areas that meet all your criteria.
3. Check on Redfin or Zillow to find out a few open houses to attend to get a feel of what is available in the areas on your list. You can also just drive around on weekends and look for signs pointing the way to open houses.
4. Talk to a real estate and loan broker to find out what documentation you will need in order to be prepared for the time when you find your dream home. It is agood idea to get a preapproval from a lender before starting the house hunt in earnest.
Fill out our mortgage quote form and we will put you in touch with a mortgage lender.