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Thursday, February 2, 2017

The First Steps to Buying Your First Home

Purchasing your very first home is a very exciting time. However, there is a lot of work that comes before you can start moving in. Here’s a look at the first steps you must take when buying your first home. These are some helpful tips to consider before contacting your Charlotte real estate agent.


Situate Your Finances

Before the fun part of shopping for houses begins, you need to assess your financial situation. That means figuring out how much you can afford on the down payment, monthly mortgage payments and also how much you have available towards closing costs. Part of this assessment also includes finding out your current credit score as it will affect your mortgage.


Understand Mortgage Rates

Mortgage rates fluctuate, so it is important to know what the average rate is at the current time. It is also important to understand that your credit score and financial standing will affect your mortgage rates for better or worse. Understanding where you stand with a potential mortgage will let you know what kind of home you can start looking to buy. 

Get Your Documents Together

In order to apply for a mortgage, you will need pay stubs, tax returns, W-2 Forms, bank statements and any other kind of paperwork that is involved with your finances.


Find First-Time Buyer Benefits

Different lenders offer different credits for first-time buyers. There are also a lot of different programs which provide assistance to first-time buyers. Do a little looking around and don’t hesitate to ask mortgage brokers about the first-time buyer benefits they may offer.


Go Mortgage Shopping

You can meet with several lenders in an effort to find the best mortgage rate. There lots of options to choose from so remember to ask lenders what they can do for you. Compare and contrast lenders until you find the right one for you.


Find a Realtor

Once you know what you can afford and where you want to live, it’s time to find a Charlotte realtor. Realtors get paid a percentage of the sale, so you don’t have to worry about paying any out of pocket expenses for their services. Realtors do a lot of the groundwork and can also recommend insurance agents and home inspectors, who will check out the home before you buy.

PURE Real Estate has years of experience in the industry and can get you familiar with everything involved with Charlotte real estate. Whether you are buying or selling a home, PURE Real Estate in NoDa can guide you in the right direction and keep you informed of every step along the way.

Start your home search now at http://purenc.com/