Guide for 1st Time Home Buyer

With the continued improvement in the Real Estate Market, First Time Home Buyers will continue to stream into the market.

As a First Time Home Buyer, knowledge of the process and of the challenges is essential.   It is important as preparation as well as setting expectations in purchasing a home.

Some prep steps noted in the linked article below are key.  Determining where you want to live and determining your buying power are two extremely important steps commonly missed by 1st time Home Buyers.

Not every neighborhood nor every commute or accessibility to services will be the same.  Thus, the buyer must have thought about the type of neighborhood or area of town that would best suit his/her needs or their family needs.  

Yet knowing where the buyer would like to live will not help if the buyer doesn't know if he/she can afford the homes in those areas of a town.  Thus, speaking to a mortgage officer and determining the buyer's buying power(maximum loan amount possible) is essential.

More great tips are here for your reading!

All questions are welcome!

1st Time Home Buyer Guide

  (Provided by American Home Sheild)

Credit Ready???

          Being Credit Ready is key when looking to purchase a home.   But did you know that it will keep insurance costs and loan costs low through out the time you own your home??

As you can see in Larry's letter below, there are key elements that impact your credit score.  And there are actions not to be taken without considerable thought so that you don't adversely affect your credit score.

As you look over the pie chart, two categories stick out like a sore thumb:  Payment History and Amounted Owed.

At 35% and 30% of your credit score respectively, you can see regular, on-time bill payment over time and a low debt level will provide a big part of a positive score.  Just as the opposite behavior(missed payment and high debt) will drag the a credit score into the gutter.

Really pay attention to these two and you can really improve your credit.

YET DON'T IGNORE AND OF THE OTHER THREE!!!

A 10% or 15% swing can take a great 700 credit score to mediocre to poor 630/595 scores by not paying any attention to the other details of your credit score.

If your credit needs improving, start with improving on time payments and reducing your debt!!  Be ready for that

next purchase!!!  Or to lower your insurance costs!!

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Things to Consider in Buying A Home

  Spring is coming!!!!   With rates so low, time to 

    consider the buying market today!!   

  Count on me and Rose & Womble to keep you up 

    to date on the factors to consider.  Below is a

    new handout with key facts to consider!!