AVOIDING MISTAKES FOR FIRST TIME BUYERS

Be proactive and not put the horse before the cart. Get a pre-approval first. Click  /PRE-APPROVAL-LETTER---32819---32836---Dr-Phillips-6-22986.html

Putting off getting a pre-approval letter can have you miss the favorite home you have been looking for. If you wait to get pre-approved until the last minute, you might be scrambling to contact a lender and buy time waiting could lead you to and miss the opportunity to put an offer on a perfect home. This will determine what direction you need to go in and how much home you can afford. Choose the right realtor and don't make this mistake! This is vital through the whole process because this person should know the in's and out's of all scenarios while in contract. Professional help is always needed when it comes to any buyer. This goes from the realtor, lender and home inspector.

Holding out for perfections will slow you down especially if inventory is low. By doing so you are missing the opportunity and pay even more just because it fully does not meet your needs. Instead, look for something that most of the must-haves and good bones where you can add anything else you may need down the line.

Do not buy more house than you can afford. Consider insurance, taxes and homeowner insurance generally increases each year. Remember every borrower case is different, so factor in your whole financial profile when determining how much house you can afford. 

Click link for free e-book https://kevinstrawter.book.live/buyer-book

GOOD CREDIT

This is so important and this shows the lender on how discipline you are with your finances and paying on time and don't make this mistake. The higher your score is, the better your interest rate is going to be, more home you will qualify for and monthly payment will be that much lower. Be honest with you lender on your finances because this will reflect once the pull your credit report and save a lot of embarrassing time. Follow instructions from your loan processor as they submit your package to the underwriter.

SAVE YOUR MONEY

Even if it has to sacrifice Christmas and tax returns. Remember, this is an important investment you are making for your future. There are several types of loans. VA, Conventional, FHA and USDA. VA loan is for honorably discharged veterans with no mortgage insurance, Conventional loan requires higher credit score and at least 5% down payment and no mortgage insurance, FHA is the most common loan for first time buyers with mortgage insurance. Depending on your status you may qualify for one of these loans. There are lender incentives for school teachers, police, nurses and fire fighters ( First Responders).

Do not make any major purchases or have any other credit pulled while you are going through this process, this is a mistake. This will throw the numbers off and possibly disqualify your pre approval. This process is about 45-50 days to keep clean and all payments on time. No other major deposits, if so you must explain. This is just a bit of information to get you started and much more because everybody scenario is different. 65% say they are more than likely to use a business and realtor with positive online reviews. If there are any questions feel free to contact me as your trusted advisor and professional realtor at 850 496-6412 and Facebook Kevin Sells Florida and Kevin Selling Florida. Serving Dr Phillips and Central Florida. Click here to learn more about Kevin Strawter /ABOUT-KEVIN-STRAWTER-P-A---MRP--GRI--ABR-6-14330.html