Feb 23 2018 44755 2

Feb 23 2018 44755 2

Tips for First Time Home Buyers

Start saving for your down payment, it's common practice to put down 20%  even tho many lenders will allow much less.  But putting down less means higher costs and paying for private mortgage insurance.  Even a small down payment can be hefty.  You can go on line for a mortgage calculator it will help set a goal amount.  Before you start looking you need to know what you can afford.  Check your credit it's one of the key factors to getting a mortgage, dispute any errors that may be affecting your score and pay down any outstanding dept.  DO NOT apply for any new credit.  Check out down payment options Fannie Mae  and Freddy Mac allow loans with only 3% down, Federal Housing Administration loans as low as 3.5%, Veterans Affairs sometimes require no down payment, you could also ask family members willing to pitch in.  Their are also state and local assistance programs.  You should also be budgeting for closing costs they generally run between 2% and 5% of you loan amount, you can compare prices for certain closing expense's like homeowners insurance, home inspections and title searches.  You can also ask the seller to pay a portion of your closing costs.  The most important thing to do is get preapproved so that when you are ready to make a offer on a home you can attach a letter of preapproval it lets the seller know you are a serious buyer and gives you the upper hand over buyers who have not taken this step.

Stephanie Rodgers Headshot
Phone: 908-670-3828
Dated: February 23rd 2018
Views: 116
About Stephanie: ...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Is The Increase In Inventory A Bullish Or Bearish Sign For Real Estate - The increase in housing inventory
Oct 18 2018 59190 1 - Elegant landscape designs can
Boo Best Halloween Events In Palm Beach County - Whether your idea of a Happy
How To Improve Your Credit Scores In 30 Days - How To Improve Credit Score In 30

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Exit Realty Premier Elite
8961 Hypoluxo Road
Lake Worth, FL

Other Locations