What First-time Home Buyers Should Know to Get Ready to Purchase
First time home buyers make many big decisions before the BIG ONE - making an offer and buying! It can be exciting but scary at the same time. One of the ways to make sure it is not too scary is to make sure you do not fall into financial mistakes that cost you more as a buyer.
Here are 10 financial mistakes that buyers make (and that includes those who aren’t first-timers!):
Ruining your credit score (pay your bills on time!). (https://www.annualcreditreport.com/index.action)
Not having enough down payment or assuming you need 20%.
Looking for a home before applying for a mortgage.
Buying more house than you can afford.
Draining your savings.
Not learning about your mortgage, grant options, etc. . (https://www.hud.gov/i_want_to/buy_a_home)
Mis-calculating the cost of home ownership.
Not having a good/honest agent or mortgage lender. (CallCleo!) (mortgage lenders: https://www.howardbank.com/mortgage-loan-officers/william-jay-walker ; https://directmortgageloans.mymortgage-online.com/cglowackiConsultation.html
Not doing your homework about neighborhoods/areas to purchase in.
Not reading your documents (agent agreements, contracts to purchase) carefully!
My goal is to be the real estate professional of choice for family, friends, neighbors and all referrals!
Cleopatra Pappas, Esq., SFR
2015,2017 Keller Williams Silver Medal Agent
2016, 2014 & 2013 Keller Williams Bronze Medal AgentREALTOR(R), Co-Owner, General Counsel
Keller Williams(R) American Premier Realty
2214 Old Emmorton Road, Suite 200
Bel Air, MD 21015