4 Common Mistakes First Time Home Buyers Should Avoid

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4 Common Mistakes First-Time Home Buyers Should
Avoid
Thinking about buying your first home? Before you
can unlock the door to homeownership, you have to
take some important first steps.
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• Ignoring the Home Inspection

This is a most important step, purchasing a
home is a big investment both financially and
emotionally. You do not, at any cost, want to
regret your decision later on. The home
inspection will high-light any current problems
and concerns that may require attention in a few
years. These are important to know and should
be factored in when you consider the length of
time you are likely to occupy the house and the
condition it will be in when you sell it!
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• Not getting Pre-Approved for a Mortgage

Getting Pre-qualified for a mortgage is very
important to do even before you start searching
for a house. Go step by step, patiently, and
compile your documents carefully according to the
required list. Clean up your credit score by
making payments on time, pay off any debts, and
boost your chances of getting Pre-approved for a
mortgage. It is recommended that you seek expert
advice to make sure your credit score and
documentation will garner yourselves Pre-approval
for a mortgage loan.
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• Over Extend your Budget

Make a proper financial plan allowing for hidden
and unknown costs. Make sure you have sufficient
for the down payment, insurance, interest, taxes,
with some money put aside for contingencies.
Remember that once your budget is in place it is
very important that you stay on track with it.
The mortgage loan company will be very pleased to
see a budget and even more pleased to see it
being kept!
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• Not Hiring Professionals

As a first time home buyer, navigating your way
through the home buying process can be a
challenge. It is advisable to hire a professional
mortgage broker who can help make your dream of
buying a house much easier to achieve. Their
experience and access to a huge network of
resources will put you in an excellent position,
speed up the mortgage application process and
ensure an early closing date.
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Drew Mortgage Associates are a mortgage leading
company in MA with years of experience,
qualified and licensed staff that will help you
with every stage of the process. From choosing a
house that suits your needs to helping you choose
the right mortgage plan for YOU!
Boston Mortgage Lenders 232 Commercial St,
Boston, MA 02109 [phone]
www.drewmortgage.com
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