Good Afternoon Readers,
Today I will be discussing first time buyer mistakes to help you avoid making the same ones….
1) Stop thinking you won’t qualify for a mortgage: Why get less than your dream home?The right Real Estate Agent and Mortgage specialist can help you reach your goals in getting your dream home!
2) Not knowing all your down payment choices.
3) Stop focusing too much on interest rate, rather than a solution! Do you know that with variable rate mortgage, your payments remain the same, regardless of fluctuating interest rates.
4) Stop being unrealistic about your dream home. Of course I said don’t settle for a home you are not happy with, but at the same time don’t buy a home you simply cannot afford!!
5) Don’t forget about closing costs, I always tell my clients they will most likely need an extra 1.5 % of the purchase price to cover things such as; professional home inspection cost, property insurance, moving costs and lawyer costs.
6) Know your Credit Rating: a good credit rating will improve your chance to get loans and mortgages. You can improve your credit rating score by always making at least the minimum payments on your credit cards, loans or utility bills on time.
7) Make sure to choose a mortgage payment schedule that is right for you; do you know
Thanks for reading, if you have any other questions or concerns about first time buy mistakes please contact me at 7809190201, I am here to help!
Your friendly neighbourhood Realtor,