First-time home buyers, here is our number one tip for you as you start thinking of buying your first home. You need to connect with a local lender as soon as possible. Even if you know you are a year, or so out, it’s never too early to connect with an agent & lender. Here are a few reasons you need to do this once you start buying.
Buying your first home? Get connected with a lender, ASAP!
1. Out of pocket costs
When buying a home, there will be out-of-pocket costs associated with buying—knowing those costs before allows you to start understanding your goal of what you need to save. The longer time you have to save money, the less daunting it will be.
2. What to pay off before buying your first home
Everyone has a different financial situation, with many other options for loans. If you have debts, then what you qualify for can vary. Your lender will be able to help you figure out what you need to pay off to get the best loan for your specific situation. Paying off your credit cards is a big help, but if you can only pay off one card, which card will benefit you the most. A local lender will be able to help you figure that out.
3. Setting up for success
They want to ensure you will get the best loan with the lowest possible interest rate. We all want you to be successful when buying your first home. Getting your debt-to-income ratio to the best of your ability will help get you the best interest rate.
We want to help you make your real estate dreams come true. Our team is connected with many excellent local lenders and would love to get you connected. If you have any questions, what’s-so-ever, reach out to us through email or phone.