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Now that you know the benefits of being a first-time homebuyer. Take advantage of it! The market continues to increase, and you could miss out on lower rates and better home prices. Here is a guide with tips to help you get started with your home buying process. 

  • Chat With A Mortgage Professional:

First things first, you need to understand your budget and how much you can afford. Figure out how much you can safely spend on a house before starting to shop by talking to a mortgage professional. You can schedule a consultation with my team. We can help you set a price range based on your income, debt, down payment, credit score, loan program, and where you plan to live.

  • Get A Pre-Approval Letter:

Getting pre-approved for a mortgage will show you how much money a lender is willing to loan you. More importantly, it signals to a seller that you are a qualified buyer. Many sellers won’t even consider offers without a pre-approval letter. We can also help you with this step.

  • Choose A Real Estate Agent:

A real estate agent can help enormously in the home-buying process because the agent knows the area and the local housing market well and can provide valuable insights about neighborhoods, school districts, and more. Aim to interview at least three agents. Ask them about their experience and whether they specialize in particular areas you are interested in, for example, if you are looking for country properties or at a specific area.

  • Start Your Home Search and Make an Offer:

Get ready to start house hunting with your agent. Be emotionally prepared and have patience when making decisions based on your must-haves, and don’t max your budget. You always want to consider saving a bit of extra cash to set up your new home and maintain it.  If you tour a home in your desired location and price range and like what you see, be ready to make an offer. Your agent can run an analysis of comparable listings that have recently sold in the area to help you make a competitive offer.

When a seller accepts your offer, the escrow process begins. This is when the lender will complete the underwriting process for your loan, which includes verifying your employment and overall financial health, as well as getting the property appraised. Give us a call or schedule a consultation to get your journey started!  

mortgage lender in roseville© 2021 Premier Mortgage Resources, LLC (“PMR”) | NMLS #1169 | Equal Housing Opportunity | PMR is not affiliated with or an agency of the federal government. All information contained herein is for informational purposes only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs, and underwriting policies are subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans are subject to underwriting approval. Some products may not be available in all states and restrictions apply. PMR is licensed in AL; AZ – BK #0937529; CA – Licensed by the Department of Financial Protection and Innovation, under the California Residential Mortgage Lending Act; CO; FL; HI; ID; IL; KS; MD; MN; MT; MO; NV; OR; SC; TN; UT; WA; and WY. Not all branches or MLOs are licensed in all states.