4 Keys to Buying Your First Home
Are you getting ready to buy a home? We want to say congratulations on your decision! Remember, MHQ - Mortgage Headquarters has more than 20 years' experience in the mortgage industry, so we'd be a perfect fit for your mortgage lending needs. But first, we want to help you by providing some tips to start you on the right path to getting that loan approval. Here are four keys to being prepared to make your first offer.
1. Know what you can afford and how much cash you will need.
Knowing what you qualify for before looking at any homes will save you the disappointment that can come from falling in love with a home that's out of reach. We'll be happy to "pre-qualify" you now so you'll know what will work later.
2. Know where you want to be.
Learn about the neighborhood before you make an offer to buy. Sample the commute. Talk to would be neighbors. See the schools, shops and services before you start negotiating.
3. Choose your property type.
Consider your range of choices: single family, multi-family, townhome, condo, co-op, new construction, etc. Know the pros and cons of each. Decide which is best for you, and define your search accordingly.
4. Obtain a valid pre-approval before you make an offer.
This entails document verification, a credit check and automated or actual underwriting. If all is in order, you will receive the equivalent of a loan commitment that's subject to a contract, appraisal and title work. Your pre-approval gives you and the seller confidence in your ability to close the deal once you find your perfect home.
You will probably buy a home only a few times in your life, but we're laser focused on the process every day. We know how important proper preparation can be to making the process easy and rewarding. Now, so do you. When it comes to seeking out a mortgage loan, trust in the mortgage professionals at MHQ - Mortgage HeadQuarters to have your best interest in mind. We've been in the mortgage industry for more than 20 years and can help you choose a mortgage program that's right for you and your specific needs!
1. Know what you can afford and how much cash you will need.
Knowing what you qualify for before looking at any homes will save you the disappointment that can come from falling in love with a home that's out of reach. We'll be happy to "pre-qualify" you now so you'll know what will work later.
2. Know where you want to be.
Learn about the neighborhood before you make an offer to buy. Sample the commute. Talk to would be neighbors. See the schools, shops and services before you start negotiating.
3. Choose your property type.
Consider your range of choices: single family, multi-family, townhome, condo, co-op, new construction, etc. Know the pros and cons of each. Decide which is best for you, and define your search accordingly.
4. Obtain a valid pre-approval before you make an offer.This entails document verification, a credit check and automated or actual underwriting. If all is in order, you will receive the equivalent of a loan commitment that's subject to a contract, appraisal and title work. Your pre-approval gives you and the seller confidence in your ability to close the deal once you find your perfect home.
You will probably buy a home only a few times in your life, but we're laser focused on the process every day. We know how important proper preparation can be to making the process easy and rewarding. Now, so do you. When it comes to seeking out a mortgage loan, trust in the mortgage professionals at MHQ - Mortgage HeadQuarters to have your best interest in mind. We've been in the mortgage industry for more than 20 years and can help you choose a mortgage program that's right for you and your specific needs!
Comments
Post a Comment