{"id":5522,"date":"2020-11-15T09:00:12","date_gmt":"2020-11-15T14:00:12","guid":{"rendered":"http:\/\/migonline.com\/blog\/?p=5522"},"modified":"2021-01-25T08:14:26","modified_gmt":"2021-01-25T13:14:26","slug":"tips-for-first-time-homebuyers-3","status":"publish","type":"post","link":"https:\/\/migonline.com\/blog\/2020\/11\/15\/tips-for-first-time-homebuyers-3\/","title":{"rendered":"Tips for First-Time Homebuyers"},"content":{"rendered":"

The homebuying process can be daunting. The financial obligations, negotiations,\u00a0and dozens of decisions can seem intimidating if you’re not prepared. With a bit of advanced planning, you can charge through the process and end up the happy owner of the home that best fits you and your family. Here are some necessary steps that\u00a0pave the way for first-time\u00a0buyers<\/a>.<\/p>\n

\"\"<\/p>\n

Make a Budget \u2013 and Stick to It<\/strong><\/p>\n

The most important thing about creating a budget is to be realistic. Track your spending<\/a> so you can accurately set a plan. First-time buyers\u00a0often don’t realize how much a monthly payment is going to be. Getting your spending under control is a smart step toward homeownership. Once your budget is complete, follow\u00a0it as closely as possible.<\/p>\n

Get Your “House” in Order<\/strong><\/p>\n

Before you start shopping, arm yourself with a plan. First, pull your credit. If you find\u00a0errors, dispute them<\/a> immediately. Your credit history is key to qualifying for a loan, so if yours is less than stellar, start working on it. Pay down your revolving debts and make every payment on time. Look through your paperwork\u00a0and figure out both the amount\u00a0you owe and the amount you have in savings.<\/p>\n

Decide How Much House to Buy<\/strong><\/p>\n

Look closely at all the financial information you gathered in the first two steps and narrow down the price you can pay for a home. Don’t forget to include the cost of taxes, insurance, and inevitable repairs. Figure out the areas of town you want to live and pick out a handful of amenities you want in your home.<\/p>\n

\"\"<\/p>\n

Get Pre-Approved<\/strong><\/p>\n

Meet with a loan officer, share your financial information, and allow him or her to pull your credit. Your loan officer will be integral to your first-time homebuying process. They can tell you if you qualify for a mortgage, how much you can borrow, and how much you will need for a down payment. Getting pre-approved shows that you are serious about buying a house, which may give you an advantage during the negotiation portion of the purchasing process.<\/p>\n

Find an Experienced Realtor<\/strong><\/p>\n

You need several professionals in your camp as a first-time homebuyer, and one of the most important is a real estate agent. Realtors are knowledgeable about areas of town and pricing, as well as what works in negotiations and what doesn’t. They can also be priceless at recommending other trusted individuals you’ll need during your journey, like home inspectors. Interview Realtors until you find one who is responsive,\u00a0answers your questions, and with whom you feel at ease.<\/p>\n

Traveling the path to home ownership is exciting and a little scary. Work\u00a0on your finances on the front end, decide\u00a0on a budget,\u00a0on the type of home you want \u2013 and can afford \u2013 and find a loan officer and Realtor you trust. If you follow these steps, your journey will be as seamless as possible, and you’ll be moving into your first home before you know it.<\/p>\n

Are you thinking about buying your first home? Contact MIG\u00a0today<\/a> so we can help you weigh your options and get you pre-approved!<\/p>\n","protected":false},"excerpt":{"rendered":"

The homebuying process can be daunting. The financial obligations, negotiations,\u00a0and dozens of decisions can seem intimidating if you’re not prepared. With a bit of advanced planning, you can charge through the process and end up the happy owner of the home that best fits you and your family. Here are some necessary steps that\u00a0pave the … Continue reading Tips for First-Time Homebuyers<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":5525,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[71,107],"tags":[],"class_list":["post-5522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-first-time-homebuyers","category-tips"],"yoast_head":"\nTips for First-Time Homebuyers - Mortgage Investors Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/migonline.com\/blog\/2020\/11\/15\/tips-for-first-time-homebuyers-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tips for First-Time Homebuyers - Mortgage Investors Group\" \/>\n<meta property=\"og:description\" content=\"The homebuying process can be daunting. The financial obligations, negotiations,\u00a0and dozens of decisions can seem intimidating if you’re not prepared. With a bit of advanced planning, you can charge through the process and end up the happy owner of the home that best fits you and your family. 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