Check out Jim Vansteenhouse‘s tips for first time home buyers on how to make sure that your home buying dream starts off as a dream and doesn’t end as a nightmare!
Here are the five tips:
1. Fail to Plan, Plan to Fail: Calculate your budget including your principal, interest, taxes, insurance, homeowner association fees
2. Choose the best mortgage professional: If you can get preapproved on your mortgage, you are making a cash offer, the seller can negotiate more with a buyer who has been pre-approved versus a buyer who hasn’t been approved at all. Run away from real estate agents who only want to talk about interest rates.
3. Do not fall in love with the home, until the real estate contract is executed. Real estate agents are paid on commission, don’t mistake their vigor as automatically negotiating the rates for you.
4. Write a checklist of what you want versus what you needed. Make sure your needs are met.
5. Pigs get fat and hogs get slaughtered: Enjoy the experience of purchasing the home, don’t deviate from the plan that you originally had planned, stay focused and execute the plan. Rates are low, so get the best rate and don’t be greedy.
For more great mortgage tips go to: