With mortgage applications at historic highs – largely due to interest rates being at historic lows – so many of my newest customers are first time buyers, wondering if they might have a chance at taking advantage of the current market.
The answer is an overwhelming YES! TRY! WHAT DO YOU HAVE TO LOSE?!
Coming from a family that rarely discussed finances or credit scores, and having never owned a family home until purchasing one myself as an adult, I know that going into marriage and family, I was extremely naive when it came to the how’s and what’s of home buying. Similarly, many of my first time buyers are young, newly graduated, hard working people that just aren’t sure where to begin. How overwhelming! Folks, I feel you on a personal level.
You just don’t know what you just don’t know! There is zero shame in that!
I did find this super handy article though, to help break down the different types of lending available, and what documents you should plan to have on hand when you go to apply. Because basically, the very first thing you’ll want to do is reach out to a local lender or mortgage broker and figure out exactly what you can afford, and what that monthly payment would look like for you. *Including taxes and insurance!* Don’t be fooled by the always attractive “principle plus interest” estimate offered at the bottom of the zillow screen. That is not all you’ll be paying!
Get that pre approval, find a trusted real estate professional that clicks with your vibe, and then let the fun begin!
And if you need any help along the way, I am always here, and always happy to lend a hand however I can.
The Cozy Home Enthusiast 