6 Ways First-Time Home Buyers Can Be Prepared

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1: Take a first-time homebuyer class. It will make repairing a credit score and shopping for a loan less stressful.
2: Be conservative. Borrowing too much can mean stretching and even sacrificing the point of not having extra spending money for fun and entertainment.
3: Organize documents. First-time buyers should keep a paycheck stub, W2, and bank and retirement account statements on hand to expedite the loan application process.
4: Get pre-approved. Before starting the home buying process, consumers should get pre-approved by at least one lender. Being pre-approved won't lock buyers into a loan but it may save them the heartache of falling in love with a home they really can't afford.
5: Play house. Every month prospective buyers should bank the amount that they would have to pay if they owned a home. It's good practice so they'll be ready for the real thing.
6: Consider all the costs. It's not just a mortgage payment home buyers will have to worry about. Repairs, assessments, and other costs of home ownership can add up quickly.

If you are thinking about buying your first home, call me with any questions that you may have. I would be happy to help you make the leap into homeownership.
(716) 512-4383