Must Know’ Pieces of Advice for Tooele First-time Home Buyers
There are many factors involved in making the decision to buy that first home. You need to determine what you need to know and what can wait until later. If you happen to be a first-time buyer who’s looking for the best tips for purchasing a home, look no further than the following three pointers to set you on the right path.
Tips For First Time Home Buyers
The challenge of buying a home for the first time can seem so daunting that it’s tempting to either just go with the first house that falls in your price range or …
Here are 5 common mistakes that first-time homebuyers should avoid when buying a home.
Jan 26, 2016 … Are you a first-time homebuyer eager to get into the market? Here are steps to decide whether you’re ready to take the plunge. 1. Check the …
Get Familiar With Your Credit Score
Find out your credit score. If you haven’t looked at your credit report for a long time, do it. It can contain some surprises that could mess up your ability to qualify for the Tooele UT home you want to buy. There are a number of places you can go, but we recommend that you give our favorite lender a call and let him take it from there. Jeff England @ Axiom Financial will be happy to provide that information quick, easy and absolutely FREE. No obligation. 435-830-2121.
By taking this important step, you will be able to find any problem accounts or balances owing that have gone to collections, and hopefully have these cleaned up before they can become a problem for your mortgage. reach Jeff @ 435-830-2121.
Determine The Price You Can Pay
While you may have a price in mind for what you’re willing to pay for a home, lenders are more concerned with what you can afford to pay. You might as well determine your debt-to-income ratio before putting in an offer. Your DTI ratio can be determined by taking your total monthly costs, adding it to what you would be paying for a house or condo and dividing it by your monthly gross income. If it’s a housing price that will work for you, this amount should equate to less than 43%. The easiest way to handle this is to call your mortgage lender (Jeff England if you don’t have a lender) and let them tell you what banks will be willing to loan you.
A Good Agent Should Help:
These are just a few of the many things you need to know when buying your first home. But….. if you’re a first time buyer the most important thing to do is find a good agent to answer questions and establish an organizational plan. They will ensure that your finances are organized and that you’re not diving into more house than you can afford. By taking the time to determine your debt-to-income ratio and looking into your credit, you can ensure a positive first-time buying experience.
If you’re wondering about homes for sale in the Tooele area feel free to use our website. We encourage you to contact an agent to work with as soon as you decide you want to start looking for that first home. They should be local, experienced and willing to provide full time service. If you don’t have such an agent, we would like to apply for the job. Call us Chris & Berna Sloan 435-840-5029.
They have great advise for first time home buyers in Tooele UT.