Buying a home can be an intimidating but exciting process. This is especially true when you are a first time homebuyer. Being prepared is half the battle so we have compiled the first 4 steps to help make the process to home ownership less stressful and easier to obtain.
Save For Your Downpayment & Closing Costs
When it comes to buying a home you must be prepared to have money on hand for a downpayment and any costs that you may be responsible for during closing. Make sure that this is in addition to your regular savings account so you do not drain all of your rainy day backup funds. You never know when an unexpected expense may occur, especially once you have already moved into your new home.
Keep Your Credit As Clean As Possible
Keeping your credit clean from past due expenses and over spending is important during the home buying process. The better your credit score the better the odds of being approved for a mortgage, the amount of interest you will pay, what type of loan you qualify for and even how much you need for a downpayment. This includes not making any large purchases utilizing your credit once you are ready to get pre-approved.
Before shopping around and setting up times with realtors to see homes you need to know how much you can spend on a new home by getting pre-approved with a mortgage lender. Skipping this step is never a good idea. A home you find today could be gone within days or hours in todays market. It is always best to get pre-approved so you can shop within your budget, put in your best offer and then meet with us for a nice smooth closing!
Find A Reliable Agent
Once you are pre-approved it's time to find a real estate Agent who will help you find, tour and obtain your dream home. Asking friends and family, reading online reviews and doing your due diligence is important so you can find someone that is reliable, communicates with you effectively and has your best interest at heart.
Still not sure who to use or where to turn? Contact us at Willow Bend Title. We have partnered with some of the best Texas realtors and mortgage lenders out there and are happy to give you some top notch recommendations.