Buying a house for the very first time could be a frightening process! It could be a time of anxiousness, eagerness, and likely a little bit of distress. In 2012, 36 % of individuals buying homes were first time home buyers (California Association of Realtors). That’s a great deal! Won’t it be nice to have a helpful checklist of tips and tricks of what to watch out for in this altering real estate marketplace? We at Common Sense Mortgage Group, Inc. sure believe so! Listed here’s ours:
1. Recognize Exactly what’s Available for sale.
Among the notable pitfalls in shopping for an apartment is that available to buy homes are usually spread throughout a number of web sites without very much consolidation. Home buyers out there in the present day squander as much as 6.5 weeks MERELY looking over the internet long before they ever speak to a realtor! Given that driving about searching for “For Sale” signs is a daunting activity and in some cases more so when the internet is involved, Common Sense Mortgage Group, Inc. has provided a property search program to help improve this process for you! If you are seeking a specific area, like homes for sale in Norwalk, CA, homes for sale in Chino Hills, CA or even simply homes for sale in your price range, take a look!
2. Figure out How Much a Home May Cost.
What some first time home buyers don’t know is that in several neighborhoods, taxes and insurance escrow could almost double a home mortgage monthly payment! Don’t account for only a home mortgage payment, account for taxes and anything else in between. Common Sense Mortgage Group, Inc. has a down payment assistance solution that helps navigate some of these surprise expenses. Moreover, with our cost effective FHA home loans, our company could help cut down many of these expenses!
3. Look for the leading Home mortgage lender.
None of this possible, however, minus the right home mortgage lender. Some companies that are hiring loan officers solely offer loan officer positions for people aiming to make money, but at Common Sense Mortgage Group, Inc., we hire loan officers that care about the people we assist, PRIMARILY first time home buyers! We want to work with you and uncover the most suitable home loan for your situation.
4. Find Out What You Can easily Afford.
Fannie Mae strongly recommends that you devote no more that 28 % of your paycheck on housing costs. Make sure to incorporate the taxes and costs talked about in Tip # 2, and be sure the total amount is no more than 28 % of your paycheck. Talk with a good home loan lender to work this out, and talk advantage of our first time home buyers program or our down payment assistance plans.
5. Look At the Whole Picture.
Recognizing the American dream of owning a house is rewarding and an excellent way to build wealth, but the sustaining of this wealth can be labor-intensive and expensive! Always remember to budget for pricey new kitchen appliances and maintenance that can quickly drain your bank account. We at Common Sense Mortgage Group, Inc. are a home mortgage company that cares, and we are here to work with you to find the best possible solution for your situation!