First Time Buyers: What NOT to Do
By Danielle Waldera
If 2020 is the year you get your first time you'll want to follow these simple tips!
Before we get into the No-No's...you should know that with the right Realtor (me of course!), you'll be prepped for all of this and be best prepared to glide through your transaction with ease!
Avoid these common mistakes for the most seamless transaction:
Don’t Open New Lines of Credit. This means Credit Cards, Personal Loans, Car loans, or any other form of new debt. This could significantly throw off your debt to income ratio and impact your ability to close on time...or close at all on your new home!
Don’t Miss Bill Payments. The home search and moving process is just that - a process. It can be stressful and in that stress it could be easy to forget a payment. Make sure you are diligent on paying bills during the process so your credit is not adversely effected.
Don’t Change Jobs. Even if it's more money - it could set back the process. Talk to you Realtor and your lender before making any new career decisions.
Make sure you're comfortable with your payments. Talk to your lender candidly about where you WANT to be, not where you are qualified to be. Your new home might be shiny and beautiful but when those mortgage payment start rolling in you want to make sure you're not going to have buyers remorse.
Think about other expenses other than your mortgage like daycare, entertainment, trash removal, gym membership etc...These expenses are not factored into the lending process.
DO - Work with me before jumping head first into the process. I can connect you with a lender who specializes in products for you individual needs. I can help you understand the process full-circle and make sure you feel comfortable and confident in the biggest decision of your life!
DANIELLE WALDERA
Long & Foster
3004 Emmorton Rd
Abingdon MD 21009
C 443-257-0442
O 410-879-8080
www.longandfoster.com/DanielleWaldera
By Danielle Waldera
If 2020 is the year you get your first time you'll want to follow these simple tips!
Before we get into the No-No's...you should know that with the right Realtor (me of course!), you'll be prepped for all of this and be best prepared to glide through your transaction with ease!
Avoid these common mistakes for the most seamless transaction:
Don’t Open New Lines of Credit. This means Credit Cards, Personal Loans, Car loans, or any other form of new debt. This could significantly throw off your debt to income ratio and impact your ability to close on time...or close at all on your new home!
Don’t Miss Bill Payments. The home search and moving process is just that - a process. It can be stressful and in that stress it could be easy to forget a payment. Make sure you are diligent on paying bills during the process so your credit is not adversely effected.
Don’t Change Jobs. Even if it's more money - it could set back the process. Talk to you Realtor and your lender before making any new career decisions.
Make sure you're comfortable with your payments. Talk to your lender candidly about where you WANT to be, not where you are qualified to be. Your new home might be shiny and beautiful but when those mortgage payment start rolling in you want to make sure you're not going to have buyers remorse.
Think about other expenses other than your mortgage like daycare, entertainment, trash removal, gym membership etc...These expenses are not factored into the lending process.
DO - Work with me before jumping head first into the process. I can connect you with a lender who specializes in products for you individual needs. I can help you understand the process full-circle and make sure you feel comfortable and confident in the biggest decision of your life!
Long & Foster
3004 Emmorton Rd
Abingdon MD 21009
C 443-257-0442
O 410-879-8080
www.longandfoster.com/DanielleWaldera
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