Categories: California, Real Estate, real estate investing

by Greg Diodati

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Categories: California, Real Estate, real estate investing

by Greg Diodati

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FirstTimeBuyers web

Congratulations on your desire to own a home. Becoming a First Time Homeowner is a big step, it will be fun frustrating and maybe a bit scary.  Don’t worry, many people have been first time buyers too, so you will survive, I promise!

Before you begin seriously searching for a home, there are a few things you should do so when that perfect home comes along, you will prepared to make an attractive offer.
First and foremost, is check your credit score and make sure everything is in order.  You can order reports by contacting annualcreditreport.com.  If you find an error or negative remark, take care of it immediately. Dispute an items that are inaccurate by contacting each of the credit reporting agencies.
Don’t make any unnecessary purchases, lowering your credit score.  Lenders look at how much credit your use, as well as how much credit is available (debt to income ratio).  Now is not the time to make any drastic purchases.
You will want to get loan pre-approval.  That way you will know how much house you can really afford and what the lender is willing to fund.  Right now, the inventory is low and competition is high for home buyers and there is still the “All Cash” buyer out there.  By having a pre-approval letter, you demonstrate you are serious about purchasing a home and that you have already started the loan process with the lender.
Finally, have realistic expectations about the home you may purchase.  If you are looking at older homes, expect that cosmetic work may be needed.  Make sure the layout of the home works for you and will it meet your needs now and the near future.
Congratulations again on your decision.  I have a great lender who I work with and is adept at working with first time home buyers.  Please contact me with any questions you might have.
As always, enjoy your day!

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