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    1. Don’t assume you can’t qualify for a mortgage You don’t necessarily need perfect credit or 20% down to purchase a home. We have many programs that can accommodate down payments as low as 3%.
    2. Get pre-approved early Pre-approval should be the first step when you are considering buying a home. Not only will it give you a better understanding of the price range you should be searching in, it also shows sellers that you are a serious buyer, giving you an advantage in a competitive market.
    3. Maxing out your loan limit Just because you are approved for a certain amount doesn’t always mean you should borrow that much. Staying below your limit will allow you flexibility for added expenses on home maintenance and any potential changes to income.
    4. Be conscious of emotions when making decisions A first home purchase is typically the biggest financial decision at the time for people. It is important to be careful of rushing decisions because you fall in love with a home. A smart decision can be a spring board for financial success.
    5. Understand the risks before waiving contingencies In competitive markets it becomes increasingly common for people to make offers that aren’t contingent on financing or inspections. While this may increase the chances of your offer being accepted, it can also put you at risk. Consider these decisions carefully with your Realtor and/or Lawyer.
    6. Be very careful with your credit score Loan approval is not guaranteed until closing. A common mistake of first-time homebuyers is to buy a bunch of furniture once they have passed inspection. If large purchases are made on credit cards prior to closing, your credit score can be negatively impacted, which could cost you your home.