Quick Tips for Buying Your First Home

Before you’re ready to buy…

Get pre-approved with a lender:

Talk to a lender and find out what you can afford, how much you will need for your down-payment and an estimate of closing costs.

Know and understand your credit score:  

Be sure to pay all bills, student loans, rent and credit card bills on time.

Have your finances in order:

Set aside what you can for your down-payment money, a typical down payment ranges from 3.5%-20%. You will also need money for closing costs, which can range between 2-3% of the sales price.

Get to know your Real Estate Agent:  

A good relationship with your agent can help you before you even begin your search.  Getting to know each other helps the agent find a neighborhood and house that is the best fit for you in addition to sharing information on prices, trends and market stats.

Go to Open Houses:  

It’s a good idea to educate yourself as much as you can about the local market before you are ready to buy.  Open Houses are a good way to see what’s out there and to see what you get for the money. They are also a good way to get to know the neighborhood or to get ideas as a seller.