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What First-Time Homebuyer Need to Know About the Home Buying Process
Dated: October 6 2019
Nothing is quite as exciting or stressful as buying a home. Approximately 5 million pre-existing homes are sold annually in the United States. Many of the individuals who make these real estate purchases are first time buyers. Trying to go out and buy a home for the first time can be confusing. Instead of going into this experience unprepared, you need to educate yourself on how the home buying process. The more you know about how to find and purchase a home the right way, the easier it will be to avoid mistakes. Read below to find out more about What First-Time Homebuyer Need to Know About the Home Buying Process.
Getting Your Financial Ducks in a Row
The biggest misconception some first-time homebuyer has is that getting pre-approved for a mortgage will be easy. In reality, this can be a very trying and stressful experience. The best way to avoid problems during the mortgage application process is by starting to prepare months in advance. The first thing you need to do when preparing to apply for a mortgage loan is to check your credit report.
Doing this will give you an idea of what your score is and whether you will need to fix any credit mistakes. You will also need to pay off the credit card debt you have, if possible. The lower your debt to income ratio is, the higher your chances of getting approved for a mortgage will be. Banks will look at your employment history, credit report, and debt to income ratio. Making sure all of these areas are covered is crucial.
Working With a Real Estate Agent is a Wise Move
Attempting to find and make an offer on a home without the assistance of an experienced real estate agent is a horrible idea. If you are trying to buy a home in an unfamiliar area, you will need a real estate agent’s help to buy in the right area.
These professionals can also help you negotiate a fair price for the home you want. Without a great deal of previous experience, a first-time homebuyer is bound to make mistakes when trying to handle the home buying process alone. Above all, before using a particular real estate agent, take the time to check their online Zillow Reviews. In conclusion, these reviews will provide you with information about how well a real estate agent has performed for another first-time homebuyer in the past.
Hurry Up and Wait
Did you realize that the home buying process usually lasts around 45 days from beginning to end? You need to prepare yourself mentally for this time-consuming experience. Getting impatient will only lead to mistakes. Having the guidance of a real estate agent is so important. They can keep you updated on what is happening with the purchase, which can give you peace of mind.
Choosing the Best Real Estate Agent
Once you have been pre-approved for a home loan, your next goal needs to be finding the right real estate agent. For years, Ted M. Daigle has helped home sellers and buyers achieve their goals. Contact him now to find out more about how he can help you.
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Ted M. Daigle eXp Realty
1720 Kaliste Saloom Rd Suite B-2
Lafayette, Louisiana 70508
Ted M. Daigle | Realtor
About Ted Daigle – Realtor Growing up in Church Point, LA instilled values of hard work and dedication, which has carried over into every aspect of his life, including real estate. This Lafayette r....
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