(312) 607-1111
·
Ryan.Cotter@movement.com
·
Mon - Fri 9:00 a.m. - 5:00 p.m.

Buying a home can feel like a complicated process. But if you’re prepared and know what to expect from the beginning, chances are your home buying experience will feel more exciting and rewarding than it will stressful. So to help get you started off in the right direction, we’ve compiled a list of 20 tips all first time home buyers should know before getting started. 

  • Start saving money early. Your down payment, closing costs, and move-in expenses will add up, so be prepared and start saving as early and as often as possible. 
  • Keep a close eye on your credit score. A good credit score will greatly improve your chance for approval and also score you a better rate as well. 
  • Keep paying off your debt. Your debt-to-income ratio is another major factor in determining whether you quality for a mortgage, so keeping credit card balances, student loans, auto loans, or any other personal debt manageable is highly recommended. 
  • Get a better understanding of the home buying process. Learn about what steps to take first, when to apply for a mortgage, when to search for a home, and eventually how to go from making an offer to closing your loan. 
  • Shop around for a mortgage. As you might already expect, mortgage lenders structure loans differently and may also offer you slightly different rates and fees. And shopping around for your mortgage could result in saving you money during your purchase. 
  • Partner with an experienced real estate agent. Finding a home online is easy nowadays but the services of a professional Realtor go far beyond just helping you find a home. A real estate agent will be there to answer any questions you might have, bounce ideas off of while looking for the right home, and also help you negotiate the best price using past sales and comparable home data. 
  • Don’t be afraid to ask questions. Buying a house means dealing with a whole lot of paperwork. From real estate disclosures to a mountain of forms at the closing table, it can easily start to feel overwhelming. Our advise: take it one step at a time and ask your team of professionals around you any and all questions you have along the way. 
  • Consider a home’s surroundings. Some homes you see on the market may seem like a perfect fit—the price is right, it’s move-in ready, and has all the space you need. But what about the neighborhood? What about the school district? What community amenities are nearby? All of this should be considered, especially when you start to think about resale value. 
  • Don’t assume you need 20% down in order to buy a home. Sure, 20% down means you’ll avoid paying mortgage insurance and likely secure a home loan with a better rate. But that doesn’t mean it’s a requirement either. In fact, according to the National Association of Realtors, the median down payment for a home is 12%, and only 6% for first-time home buyers. 
Helpful First Time Home Buyer Tips
Text, that where it came from it

Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast of the Semantics, a large language ocean. A small river named Duden flows by their place and supplies it with the necessary regelialia. It is a paradisematic country, in which roasted parts of sentences fly into your mouth. Even the all-powerful Pointing has no control about the blind texts it is an almost unorthographic life One day however a small line of blind text by the name of Lorem Ipsum decided to leave for the far World of Grammar. The Big Oxmox advised her not to do so, because there were thousands of bad Commas, wild Question Marks and devious Semikoli, but the Littl

  • Far far away, behind the word mountain
  • When she reached the first hills
  • A small river named Duden flows
  • A small river named Duden flows by their plat.
  • Far far away, behind the word mountain

Copy Writers ambushed her, made her drunk with Longe and Parole and dragged her into their agency, where they abused her for their projects again and again. And if she hasn’t been rewritten, then they are still using her.Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast of the Semantics, a large language ocean. A small river named Duden flows by their plate.

About the author

I am from Chicago, IL and I have been lending in this area for 20+ years. My team and I strive to give you an enjoyable mortgage experience while providing you the best programs and rates! I am also offering a FREE mortgage analysis to determine if refinancing is right for you.

Recent Rate Trends