I fully understand how stressful the purchase of your first home could be. I vividly recall how nervous I was when I purchased my first residence since this was the very first one I acquired in United States. The contract vocabulary was intimidating, the areas were unknown, the negotiation procedure seemed endless, and the financing course was exhausting. The day I got the keys of my home I celebrated with tears of joy of such accomplishment. Luckily, you won’t experience the same stress when you work with me.
Once you receive your loan pre-approval letter we’ll have a video conference and I’ll explain the whole purchase process from beginning to end. My goal is that you understand your rights and obligations to avoid unnecessary frustrations. Once we find your dream home I’ll be in constant communication with you via phone calls, text messages, e-mails and educational videos to support the information that you received in our first consultation. Nevertheless, feel free to contact me at any time should you have any questions because my goal is that you enjoy your home purchase experience!
10 TIPS FOR FIRST TIME HOME BUYERS
Buying your first home could be stressful, but do not worry. We have plenty expertise and experience to help you achieve the Dream of Homeownership. Whether your family or friends can help you navigate the purchase process or not, please consider these 10 key tips that will definitely facilitate the house hunting experience and guide you to become a pro homebuyer.
1. Save money for your down payment, closing costs, reserves, and moving expenses: Your down payment will depend on the type of loan you choose. Down payment for first time buyers can start as low as 3%. Your closing costs are usually 3% of the purchase of your property.
2. Know the area where you’ll live: Check crime rate, drive by at random hours of the day and night and talk to your future neighbors.
3. Know your budget (income, expenses) in order to determine the monthly mortgage amount that you can afford: Sticking to your budget is crucial in order to avoid financial stress.
4. Strengthen your FICO score: If you have never worked towards building your credit (hyper link , get a security credit card at your local bank and pay your debt in full and on time.
5. Talk to more than one Loan Officer in order to negotiate the lowest interest rate and closing costs.
6. Research for down payment assistance programs: Your Loan Officer will find a program that is suitable with your financial scenario.
7. Find out how to buy points to reduce your interest rate and mortgage payment
8. Choose your Real Estate Agent wisely: Check for his/her experience, expertise, accreditations, ask for recommendations and have an interview with the agent you choose. Your Realtor will be guiding you through this unique process that might take more than a couple of months.
9. Pay for a home inspection: I can’t stress how important a home inspection is. Keep in mind that you can request the seller to pay for some repairs and save money
10. Research for home insurance and get the best deal: If you own a car, opt for a bundle program.
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