Being a first-time homebuyer can be an overwhelming and confusing process. So, on today’s episode, we will go over some first-time homebuyer mistakes. Now, these are not mistakes exclusively made by first-time buyers alone, they could happen to people buying their second or third home as well.
Do you know how much house you can afford? We’re here to help you get into a home you can comfortably afford within your budget. A lot of people make the mistake of getting one lending quote and assuming that’s the right fit for them. What about making a small down payment? Well, this will depend on your situation. We’ll also discuss first-time homebuyer programs and credit. Hopefully, some of these tips can help you avoid some mistakes along the way.
0:40 – Not knowing how much house you can afford
2:15 – Getting one lending quote
4:11 – Making a small down payment
5:58 – Not looking into first time home buyer programs
7:28 – Applying for other credit before the sale is final
QUOTABLE MORTGAGE MOMENT:
“Shopping for a mortgage is in some ways like shopping for anything else. In that, you definitely want to make sure you compare a couple of different lenders or banks.”