Buying your first home is such an exciting time in someone’s life. Whether you are single, engaged, or married, purchasing a home is one of the most important investments someone can make in their lifetime. If you are like most people, your first home is a steppingstone to the next home in your future. Often times we have to make adjustments to what our perfect, dream home might be, as our first home will probably not be our last. Sitting down and determining your “wants” and what you actually “need” is an important part before you begin searching for a home. This will help save you a lot of headache and will allow you to start envisioning what your home will look like.
The loan pre-approval process is by far the most important part before searching for a home. It is very important you choose someone you are comfortable with. This will be your main tool in determining what you can afford and what you are comfortable with in purchasing your new home. Your loan advisor will give you a breakdown of your monthly mortgage that will include taxes, principal, interest, HOA fees (if applicable), mortgage insurance (if applicable), etc. Once an offer is written and accepted, your loan officer can lock in your loan rate should you choose. This will confirm what your rate will be for your loan. There are certain timing restrictions so please have open communication with them, as they will fill you in on all of the necessary information.
Purchasing your first home is very exciting. Please contact me for a complimentary book Your First Home: The Proven Path to Home Ownership. Congratulations on taking your first step in purchasing your first home.
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