Mistakes to Avoid for First-time home buyers

January 23rd, 2017|Blog|

Buying your first home is a huge milestone! You should be extremely proud of yourself for getting to that point in life. The process may seem overwhelming at some points but here at First Ohio Home Finance we want to make it easier for you. Let’s take a look at common mistakes made by first-time homebuyers and figure out how to avoid them.

Common Mistakes

  1. Renting or buying. The first mistake people make it when they casually start looking for homes online, then fall in love with a home and are unsure whether they can afford it or not. It is important to sit down with a financial advisor, real estate agent, housing counselor or lender to decide if buying is the right thing for you or if renting for another year or so in order to save up more money.
  2. Looking at home out of your price range. Getting pre-approved before you start shopping for a home is a great way to avoid buying a home you cannot afford. When you get pre-approved, your lender will look at 2-s, tax returns and pay stubs which will determine how much you can afford and what range of prices of homes to be looking at. Learn more about pre-approval here.

Learn the Process

The more you know, the more confident you will feel about the process. First-time home buyers should spend some time researching the process of buying a home, the different types of people you will be working with and the different loans types before diving too far into the process.

Get Professional Advice

Give us a call! That is what we are here for, our Loan Officers are extremely knowledge, informed and want to help you make the right decisions. We can review your current […]