When you’re ready to look for your first house, here’s how to get started:
Be realistic about what you can afford.
Do your homework and thoroughly research all of the available homes in the area where you’re looking to buy.
Check with the property appraiser’s office, either in person or online, to determine what current owners paid for their houses and how much homes in that neighborhood sold for recently.
Stay objective and avoid making an irrational offer because you fall in love with a house.
Shop around for your mortgage ahead of time, so you have a better idea what interest rate you’ll pay and how much house you can afford.
Research how much homeowners insurance will cost.
To qualify for better terms on a mortgage, here are some strategies to utilize:
Unless it reduces your down payment, pay off your credit card debt and avoid incurring more.
Build a track record of paying your bills on time and improving your credit score.
No matter what the lender tells you, make sure in your own mind how much you can afford to pay each month on a mortgage and be realistic.
Invest all of your found money like gifts or income tax refunds.
