5 Things To Do Before You Dive Into Your First Home
I wrote the following article on mortgagesUndressed.com. I am beginning a weekly series of consumer information regarding real estate and mortgages. We know that most Issaquah home buyers are experienced to the process but we felt that our 35 plus years in real estate, mortgages, and owning companies in each may give us the ability to offer you important consumer information.
We hope you visit realEstateUndressed.com on a regular basis as we write there daily on the subjects. 5 Things To Do Before You Dive Into Your First Home
Note: This guy is already in pretty deep. How about you?
1- Make sure your credit score will allow you to secure a loan with market rates.
2- Make sure the lender you choose has a good reputation with the agent you will use. (No exceptions here.)
3- Use an agent that knows the local market you will be purchasing in.
4- Do a personal evaluation about your financial stability. Will you be in the home for a few years? (prices may stay flat for a while) Can you really afford the new payment? Do you have some cash reserves? (how many months could you survive with a job loss? Could you be better off by first upgrading your employment first? Do you have high interest rate debt that could be paid off first? Will the new purchase allow you to go forward spending less than you earn?
5- Before you even dip your toes in the water spend serious time learning from experienced people on line. Spend as much time learning about mortgages as you do searching for that home on line.
