What First Time Home Buyers Need To Know

 · When you’re a first-time home buyer growing dizzier by the minute walking through dreamy homes outside of your budget, it’s only natural to consider adding a home that needs a little “TLC” to your short list. Know this, though: fixer uppers come with some special considerations, especially for first-time homebuyers.

For first-time buyers looking to buy a home that needs a little TLC there are 203k loans. These loans are a type of rehab loan where you can borrow money to but a fixer-upper plus get up to $35,000 in additional cash to make repairs or renovations.

11 Tips Most First Time Home Buyers Don't Consider! Before buying a home, make sure you know exactly what you’re getting into so you can decide if you’re financially and personally ready for such a large commitment. In addition to your monthly mortgage payment, figure out how much you’ll be paying for property taxes, homeowner’s insurance, HOA fees and other monthly costs of owning a home.

You’ll be ready to make a final decision on a home in no time, but first, here are eight things every first-time home buyer need to know before they get started. 1. your credit score This may sound like a no-brainer, but you’d be surprised at how many people don’t know their credit score or haven’t even thought to look at it.

Buying a house is a minefield full of “I didn’t know thats.” From choosing the right home. How much house can I afford?’ is the first-time home buyer question Ishbia says he is asked most often.

You Need to Be *Really* Prepared. Buying a home (especially your first one) can be overwhelming, so before you even begin the process of looking, you’ll want to get all your ducks in a row.Start.

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I’m also going to give you a link to our Zing University course which will walk you through what first-time home buyers really need to know. When you’re ready, feel free to get a mortgage approval online through Rocket Mortgage or give us a call at (888) 980-6716 to speak with one of our Home Loan Experts.

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If you’re thinking of buying property this year, here are a few points you need to be aware of. from 1% to 4% of their home’s value on maintenance each year. If you’re buying for the first time,