Buying a house for the first time is hard and often can become stressful and confusing. That is why it is important to find a realtor you trust and can help you figure out the housing market. Joe is always there to help you out from finding your dream home that is in your budget to help you get in contact with a mortgage broker. Here are answers to some questions first-time home buyers ask to help you be prepared to buy your first home.
How do I decide my budget?
Spend more money on your house if you believe in a few years your income would be enough to cover the mortgage payments. You do not want to settle for a house because of your current income just to get a higher income in a few years and go through the buying process again. Buy a house that you will qualify for so that you are not disappointed in your house in a few years.
While budgeting you should also be aware of the closing costs. They are usually between 2% and 5% of your loan amount but you can look around for the best one that suits your needs. You should also plan for after move-in costs. Once you are done budgeting your down payment and closing cost you should figure out how much you will need to be left for the finishing touches. This includes furniture, any new painting you want to be done, or any other improvements you plan to do in the following months.
How do I know which realtor is right for me?
A realtor is a big part of finding the perfect home. They can affect which homes you see and the deals you get. That is why it is important to find one that is local to the area you want to move to. If you are looking for a home in the Tampa area you would want to find someone with years of experience. Someone with experience in the area will know where to look for the type of home you want, and which ones are in your budget. They also have connections with sellers and mortgage brokers to help make the process easier and less stressful for you.
How to qualify as a first-time homebuyer?
Meet with a mortgage broker. There are multiple programs you could investigate. Often, they have bond programs that are financed by the government. You can also look into FHA financing which may allow you to have 3.5% down payment and the seller may pay your loan closing costs. If you are a veteran, you should see about getting a VA loan. A mortgage broker will help you find the best programs for you and see which ones you qualify for.
Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-701-2030 or visit https://josephlewkowicz.com/