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Biggest Financing What Every Buyer Needs
Mistakes Buyers Make to Know Before House Hunting

ask you to pay down or pay off debt to
improve your score before you can purchase
a home.
While this may be simple enough to do, it
may also take time. This makes it important
to determine your credit needs early in the
process.

Reach out to learn how you can put yourself
Successfully financing a home requires Before you begin your hunt for a new home,
in the best possible position to purchase a
several key steps. Too often, buyers are even if it’s online, we suggest that you do
home.
unaware of what is involved in this process, some important information gathering ahead
and they suffer from missteps. Here are of time so that the fruits of your labor will
While this may be simple enough to do, it
three of the most common blunders (and be more immediate and more satisfying.
may also take time. This makes it important
how to avoid them): The place that you will call “home” will be
to determine your credit needs early in the
the result of understanding what your needs
process.
Failing to Think Long Term are now and into the future.
Purchasing a home is one of the most Condo or loft living may be your chosen
Reach out to learn how you can put yourself
significant financial investments you’ll ever lifestyle if you don’t want to deal with much
in the best possible position to purchase a
make. You’ll probably do this only a maintenance and have no outdoor living
home.
handful of times in your life, so you must requirements.
really think it through. If so, be sure and note that there will be
added monthly housing costs via

The key is to think long term. Consider: homeowners association fees. To give
Will the loan payment you are taking on What Is an "As Is" Sale? yourself or your family room to grow, a
remain manageable for the foreseeable detached single-family home with ample
future? Will changes in family status or outdoor spaces may head your list of
employment status impact your ability to criteria.
continue to make your payments month Enter Text HereWhen house-hunting, you “What location is best?” Probably the most
after month? Will you still be able to save may encounter the term “as is” in the listing important part of your information gathering
money each month after covering all your information. While technically, most homes will be how you answer this question.
expenses? are marketed in “as is” condition, it is not The value of your new home will be
Carefully considering these questions up necessarily an indication for alarm. But you influenced by its location, so you will need
front will help you avoid making a purchase will want to look for red flags. The seller is to analyze your needs regarding how and
that you later regret. likely putting you on notice that no repairs where you work and play.
Underestimating the Cost will be made. Your purchase should always The type and locale of a home will
Unless you qualify for certain Veteran’s be subject to any inspections you procure, determine your overall cost of ownership.
Administration loan programs, you’ll need which will be a protective contingency in Will it be city life, country living, or nesting
some sort of down payment to purchase a your offer. in the suburbs?
home. Beyond this, you will also need to Most sellers will back away from their “as Additionally, you will want to include the
cover closing costs, and you may have to is” stance and do some negotiating on cost of home maintenance and commuting
come up with cash for taxes and/or other reasonable repair requests so they won’t costs as part of your cost of living fact-
escrow reserves. lose their buyers. If a seller sticks to his finding.
Be sure to incorporate all these costs as you guns and refuses to remedy repair requests Once you decide whether you are a
determine your price range and negotiate or offer any credit in lieu of repairs, you candidate for a remodeling project or if a
your purchase. have a right to cancel the sale without newer home better suits your way of life and
Ignoring Their Personal Credit Profile penalty. patience, you will want to get prequalified
More than anything else, your credit will Even if an “as is” property appears in good for a loan that is tailored for the type and
determine what loan terms you’ll qualify for condition, we would not recommend that location of the home that works for you.
and the interest rate you’ll pay. Your credit you waive your right for inspections just to Please remember that we are here to make
report is a window into your finances. Take be able to consummate a deal because there your information gathering easier so that the
a look through it. Your lender will. can be an unknown that becomes your end result is a home that is a perfect fit for
Depending on what they see, the lender may liability once you have possession. you and your family.

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All Information is believed to be true but not guaranteed. The information contained in this newsletter is intended for general informational purposes. It should not substitute as legal, financial, accounting, investment, t ,
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medical or other professional services advice. This newsletter is not intent to solicit real estate properties currently listed for sale through a licensed real estate company. .
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