- Lost Equity In Your Home? HARP 2.0 May Be The Answer
- Veteran Loan Information Center
- 7 Things You Should NOT Do When Applying For A Home Loan
- Special Report Exposes All Of The Terms And Fees That Are Charged To Buyers At Settlement
- The Top Mortgage Questions You Must Ask Before Applying For A Mortgage
- How To Finally Stop Renting And Own A Home Of Your Own
- Important Terms You Must Know BEFORE Obtaining A Mortgage
- Checklist Of Items Lenders Need To Approve Your Loan Application
- 12 Secrets To Lowering Your Homeowners Insurance Cost Your Agent Doesn’t Want You To Know
- Money & Time Saving Tips For A Successful Move
- Video Proof! Credit Repair REALLY Works!
- Free Credit Repair Program
- Tested and Proven Strategies For Building A Better Credit Record Faster and Easier
- How To Own A Home With Low Interest Rates And A Low Down Payment, Regardless Of Your Credit
- 3 Quick Tips For Repairing Your Credit Report
- The Dangers of Identity Theft and How to Protect Yourself!
- Fannie Mae Lookup
- Fannie Mae Homes
- Freddie Mac Lookup
- HUD Approved Condo Projects
- Huntington Beach Market Update – November 2016
- 3 Reasons To Use A Huntington Beach Mortgage Lender
- Summit Lending Mortgage Refinance - When Is The Right Time?
- Top 5 Tips For Getting VA Loans
- 4 Ways to Buy a Home With Minimal Down Payment
- 3 Helpful Tips for a First-Time Home Buyer
3 Helpful Tips for a First-Time Home Buyer
Mortgage Huntington Beach – Summit Lending
If you’re purchasing a home for the very first time, there’s no question that there will be some confusion and questions that you need answers for.
As a mortgage lender in Huntington Beach, I am here to help make your mortgage process a smooth one with as little stress as possible. Buying a home is a big deal and it’s an even bigger deal when it’s your first one!
Here are a few helpful tips to remember for when you’re ready to make the jump and put an offer on a home!
1. Get your mortgage pre-approved
This is a big one for any hopeful homeowner. Many sellers will not negotiate with buyers who are not pre-approved, making receiving a pre-approval letter even more important.
Getting pre-approved will also give you and your family an idea of how much you can afford based on your income and current debts. This is a major benefit (and basically a must-have) for any serious home buyer, let alone a first-time home buyer.
2. Buy for the future
When purchasing, it’s always a good idea to think about the future. Of course, it’s still important to find a home that meets your shorter-term needs, but when you’re committing a lot of money to a home, it should be towards one that you can be comfortable in for years to come.
For example, do you plan on growing your family? If so, a home with more bedrooms and in a neighbourhood close to a school may be ideal. Scoping out homes that are within distance of parks, grocery stores, malls, etc. are to be considered based on your needs and wants for the future.
3. Plan for closing costs
Simply putting money down for a down payment isn’t enough. Not even close!
Budgeting for closing costs is important so there are no surprises at the end. A good rule of thumb is that closing costs can range between 2%-5% of your loan, while additional expenses like inspections and insurance can also be expected. So, don’t think that once you’ve forked out your down payment money that you’re good to go because closing costs can be costly!
When shopping for a home when you're a first-time home buyer, a mortgage professional can be of great aid when it comes to determining how much you can afford and to help you create a plan of action. With these three helpful tips, you should be in a better position for that first purchase.
If you’re serious about buying a home, contact a mortgage Huntington Beach professional like Eric Gausepohl of Summit Lending for all your mortgage needs!