Your First Home

How to Begin Before Buying Your First Home

  • Check Your Credit Report: Be aware of the information in your credit reports. If you have outstanding debt issues, or errors in your reports, clear them up before approaching a lender.
  • Work Out a Budget: You must look at your total income and a total of your monthly obligations. Write it all down, evaluate your situation, find places to cut back, and then figure out what size house payment you can afford.
  • Define Your Ideal Home: Once you see the financial picture, decide what you need and realistically, what you want in your home. A general recommendation is that a mortgage payment not exceed 30% of pre-tax income.

  • Check the Market: Begin by checking neighborhoods, towns, or cities you like and where you are interested in setting up your home. Do not forget to check the suburbs, the market prices are sometimes better out of town.
  • Find Honest Realtors and Lenders: There is no doubt friends and family members who have purchased homes. Ask for recommendations. As a buyer know that it may be worthwhile to hire a buyer’s Realtor. Whatever professionals you work while purchasing your new home, be sure to ask many questions.