Tip 1: Check Your Credit Score The minimum credit required to purchase a home is 580. Not all credit sites are accurate so it is best to call a mortgage lender to see what your credit score is and if needed they can help bring it up to where it needs to be. Even if your not quite ready.
Tip 2: Explore your Down Payment Options Down payments can range from 3% all the way up to 20%+ There are down payment assistance programs available for first time home buyers that will help assist with your down payment.
Tip 3: Explore your Mortgage Options Not everyone is going to pay cash for their home or even have a large down payment. Whether you need down payment assistance or you have been saving for years and your ready to go there are several lenders in the area that provide different programs. Its best to call me first so that i can listen to your situation and point you in the right direction.
Tip 4: Organize your Finances You will have some out of pocket expenses even if you use the down payment assistance program. You'll need money set aside for inspection and appraisal fees. You'll also need money put away for closing cost. Closing costs can range from 2-4% of the purchase price. Sometimes I can negotiate all or some of the closing cost into the deal!
Tip 5:Get Pre-Approved Getting pre-approved means that a mortgage lender has looked at all of your financial information and they have let you know how much you can afford and how much your approved to borrow. Bring pre-approved will save you a lot of time and energy so your not looking at homes that you cant afford. Unless you are paying cash you'll need a pre-approval letter to put a offer on a home.
Tip 6: Prioritize Your Needs From Wants Create a checklist of your needs and wants. Don't forget to include things that are not actually part of the home but important such as the neighborhood, the commute and the school systems.
Tip 7: Don't Wear Your Heart on Your Sleeve There is a big difference between your emotions and your instincts. Going with your instincts means that you recognize your getting a great house for a good value. Going with your emotions is being obsessed with the paint color or the backyard. Yes it may be your first home but it is also your biggest investment.
Tip 8: Stalk the Neighborhood Go to the neighborhood at different times of the day. Do your regular commute from that home and make sure that is something you will be fine with on a daily basis.
Tip 9: Get a Home Inspection You'll want to get the home inspected by a licensed inspector. They will inspect the home from top to bottom. The roof, plumbing, electric, foundation, Everything! The inspection should make you aware of what might be hiding in the walls or under the floors before you finalize the sale.
Tip 10: Fly Under The Radar Do not make any large purchases. Do not buy a new car or new furniture. Don't not open or close any credit cards. Don't skip or miss any payments. Don't overspend. Until you get the keys to your home and move in fly under the radar. Once the sale is complete you can buy whatever your heart desires.
Kelsey FriedrichRE/MAX Elite 321-987-0470 (direct - do not hesitate to call or text me with real estate questions!)
Author:Kelsey Friedrich Phone: 321-987-0470 Dated: March 29th 2019 Views: 18 About Kelsey: Kelsey Friedrich has earned raving reviews from all her clients! Many of these reviews describe Kels...
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Kelsey Friedrich has earned raving reviews from all her clients! Many of these reviews describe Kelsey as a motivated Realtor®, who is always prompt to respond and flexible to her clients schedules. In addition, she has always been known as a professional and knowledgeable agent.
Kelsey grew up in Brevard County, FL and specializes in Residential real estate. With eight years in the real-estate business, she has experienced the ups and downs in the local market. Kelsey epitomizes integrity, hard work and creativity into each transaction put forth. She has a true passion in real estate and it shows.
Kelsey has consistently shown the ability to meet and exceed her clients needs when buying or selling their home. Thanks to her exceptionally loyal clientele, personal referrals and repeat business she has become a top producer in her area.
Are you thinking of buying or selling? Contact Kelsey to find that perfect home!
Tip 1: Check Your Credit Score The minimum credit required to purchase
"My wife and I moved from out of state, and Kelsey was great in helping us find and secure a new home. She was very patient with us as we looked at several houses all over the Palm Bay and Melbourne areas. Once we dialed in on the house we wanted, she did a wonderful job in getting everything finalized and to closing. I would definitely recommend Kelsey for anyone looking to buy a home in the Palm Bay and Melbourne areas."