Tips for First-time Home Buyers

First time home buyer in chicagoBuying your first home can be intimidating.  It’s a complicated process with a lot on the line. However, following these steps will help you hit the ground running and streamline the process:

1. Work With a Good Realtor

A quality Real Estate Agent will not only help you find the perfect home, but guide you through the entire transaction process from start to finish.  The best part? As a buyer, it typically costs you nothing to work with a Realtor. Your agent gets paid by the Seller’s Agent after you successfully purchase a home. Why wouldn’t you want an experienced agent in your corner?

2. Get Pre-approved by a Lender

Contact a lender and start the pre-approval process as soon as possible. Once you are pre-approved, you’ll know not only that you can get a mortgage, but you’ll also know exactly what your budget is.  When you find a home you like and decide to make an offer, your pre-approval letter adds to your legitimacy. Click here for help finding a quality lender.

3. Keep Your Finances in Order

Once you have been pre-approved, keep your finances in order to ensure you can get the loan and close on a house when the time comes. Avoid making late payments or opening any new lines of credit(financing a car, etc). These changes in your credit history can cause a lender to deny you the ability to obtain a mortgage.

About the Author

Dave Barrett is a Chicagoland Real Estate Agent. With 10+ years experience in the Real Estate Investment world, Dave knows how to find the best deals on houses. If you’re thinking of purchasing a home, talk to Dave Barrett today!

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