Wow, you are about to put your foot on the first rung of the proverbial property ladder. Your first time doing anything can be hard but being a first time home buyer can be extra scary. There are people that can help guide you in picking your first time home and getting your first home buyers loan.
First, talk to a REALTOR® local to the market you are shopping. As for an example, if you are buying Collingwood Real Estate -- than we are the perfect REALTORS® as we know and work in the Collingwood Real Estate Market.
Then, talk to home loan companies and lenders to get a feel of what their charges will be. Any of these professional people who will not give a first time home buyer fifteen minutes of their time are maybe not the ones for you so keep looking.
These questions are very basic first time home buyer questions and further advice should be taken from an expert but they should help you toward a basic understanding.
Very rarely does home buying go completely smoothly so try not to get upset when things go a little awry. The professionals you have helping you know that you are a first time home buyer and will do what they can to minimize the hassle.
Next thing to do is to check out your finances. You should get and check a copy of your credit report as errors are not uncommon and could potentially undermine your chances of a first time home buyer home loan.
Do some research on the mortgage industry. Pick a few places you would consider applying for your first time home buyer home loan and compare them. You might be surprised.
Try and get pre-approved for a first time home buyer home loan -- the perfect person to talk to would be Karen Fritz. She will give you a budget and you will know how much you can spend. It also has the advantage of making you a better prospect for the seller. If the seller has identical offers but yours is the only one with a letter stating that you have the home loan then they are much more likely to take your offer.
All this before you have even started looking at a house. Now is the time to start deciding what you want in your new home. If you approach looking at Collingwood homes for sale with a really good idea of what you are looking for then you will not feel so overwhelmed.
This is just a basic overview of the process involved in buying your first home and getting your first loan application. Armed with this information the next step would be is to give us a call at (800) 886-4713 today.
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