 |
First Time Home Buyer
Buying a home for the first time can be a scary thing. Words like "Purchase Contract", "Escrow", "Inspection" can be confusing if you have no idea what they mean. The good thing about being a First Time Home Buyer home is that there is a wealth of mortgage information online for you to research. There are thousands and thousands of websites dedicated to help people understand the processof buying a home. As a First Time Home Buyer, it is important not do you own research and try to become familiar with some of the basic terms you will hear when you purchase your first home.
As a First Time Home Buyer, you need to make sure you ask all the important questionsthat need to be asked. This is your home and it's vital that you understand words like "Purchase Contract" or "Escrow" or "Loan Contingencies" so that you fully understand the process. Be sure to look at properties that are listed by real estate professionals and those listed as For Sale By Owner. And when you apply for a loan, ask the mortgage Consultant to go over your credit report with you so that you can verify all the information listed. After reviewing your credit report with the Mortgage Consultant, you'll find there are many things you never new about credit reports in general.
Also be sure to discuss the loan process with your Mortgage Consultant. It's important to know each step (like when do you provide your income documentation) so that you are prepared to provide what is needed. If you're looking for a California Super Jumbo Loan or a regular conforming loan, there are many options for First Time Home Buyers. Fixed rate home loans to adjustable rate home loans, be sure to find a loan program and interest rate that fits your needs. You'll also have options like an interest only type loan or a fully amortized payment loan.
|
 |
