First, examine your finances, including savings, income and available gifts from family members, in order to get an idea of a price range you can afford at this time. Of course you’ll need to consider your expenses, too. Things like your credit rating, the amount needed for the down payment, and current mortgage interest rates all need to be taken into account. If you can find a MN first time home buyer 2017 class to take locally, in person or online, do it. Education can truly help the first time home buyer avoid costly mistakes.
Next, it’s a smart idea to align with a professional real estate agent whom you can trust. Realtors are the negotiators for buying and selling homes. Since they do real estate for a living, they know more than you or the average person. A well chosen realtor can aid you as a MN first time home buyer 2017. He or she knows all about the necessary paperwork, contracts and other things that make up your large investment.
If possible, start the mortgage process before you even make an offer on a home. Obtaining a “pre-approval” letter from a lender will show sellers you’re serious, and that you’re qualified to borrow money to buy the house.
Perhaps the “fun” part of the whole process is picking out potential neighborhoods/streets where you’d like to buy a place, and then visiting “open houses” to see what the places look like inside. Come up with a list of things you “really want” and try to find a home in your budget that has all or most of those things.
When you find a place you love, as a MN first time home buyer 2016 be sure to contact Lake Area Mortgage at 651-209-2900 to learn about home buyer down payment assistance currently available.