First Time Homebuyers

My primary goal is that you always feel comfortable and confident with your decisions and that I have provided you all the necessary information and have explained the home buying and loan process to you in a simple and straight-forward manner.

Even though I have guided and helped hundreds of homeowners just like you, I never lose sight of this is YOUR first experience and you too will have many questions and concerns.  Buying a home requires responsibility of planning and determining what you can afford and understanding which loan program will best meet your needs and within your budget.

Gather Your Documentation -

Organization is key, knowing where to quickly access all of your income and asset information so can provide your loan officer with everything they need to verify.  Be prepared with your financial documentation because your loan officer will need to see it all.

If you’ve been a little relaxed in the past about savings pay stubs or knowing where your W2′s are, now is the time to get organized.  Next, you should go over your monthly fixed expenses and allow for emergency expenses as well.   Always allow yourself a cushion so you won’t feel strapped month to month, setting a realistic budget will bring you success in owing your first home.

Review your credit report; know what your FICO scores are and if there is any false reporting on it, contact the credit bureaus and get it corrected.  Your interest rate and costs will be completely indicative of your scores and overall credit profile.  Also, take note of any derogatory credit that has reported in the past, because more than likely you will have to provide an explanation to the lender of the reason.

Credit & FICO Scores

I can’t even stress this topic enough.  It is true that higher FICO scores will save you money on your loan.  Review your credit report; know what your FICO scores are and if there is any false reporting on it, contact the credit bureaus and get it corrected.

Your interest rate and costs will be completely indicative of your scores and overall credit profile.  Also, take note of any derogatory credit that has reported in the past, because more than likely you will have to provide an explanation to the lender of the reason.

Local Resources – Could Improve Your Bottom Line

Many cities offer special grants or assistance with closing costs to help first time home buyers.  Be proactive in seeking out any help that may be available to you, research your local government or township online to find out if they do.

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