Posts from October 2018
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How to Get Pre-Approved for a Mortgage Loan
For many people, the financial side of home buying isn't quite as exciting as starting to look at houses. Many first-time buyers are anxious to get started, but before you head out to view Excelsior homes for sale in person, make sure to get a pre-approval letter from a reputable lender. You'll be glad you did!
Pre-Qualification vs. Pre-Approval
Pre-qualification isn't a thorough process. Often you don't even have to speak to a lender directly. Plug in a few bits of information about your income, expenses and what you think your credit score might be and you're done. It can be useful to get an idea of where you stand financially and what kind of monthly payment you can make.
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What You Need to Know About Buying Your First Home
The decision to purchase your first home is a life changer and knowing what to expect and how to plan your strategy goes a long way towards making the experience less stressful. By following a few simple guidelines before you begin your house hunt, you may save yourself time, money and frustration between now and the day you close on your dream home. Here are some of the most important factors you should consider before beginning your search.
5 Things to Think About When Buying Your First Home
- Personal Financial Picture
Knowing your home buying budget before you start looking at homes is a smart move for new home buyers. Have a look at your current expenses, income, and assets, then get ready to talk to your bank. Obtaining a pre-approval for a mortgage will firm up your purchasing budget and give you peace of mind as you search for a home. Be sure to factor in hidden homeownership costs when finalizing your budget including homeowner's insurance, property taxes, HOA fees, maintenance, and utilities.