Tips For First-Time Home Buyers

Mar 30, 2022 | Core Bank, Personal, Real Estate

Buying a home can be daunting and difficult to begin and finding applicable resources can take some time if you are a first-time home buyer. Well, Core Bank is here to help!

1. Speak to a Core Bank Mortgage Lender

Before looking at potential new homes with a realtor, speak with a lender. A Core Bank Mortgage Lender can get you started on the pre-qualification process, so you are armed with a reasonable price range before beginning your search.

Furthermore, working with a Core Bank Mortgage Lender can help you identify and understand your goals. Goals could include a variety of things such as how much you want your monthly payment to be, the purchase price you are hoping for, the amount of time you see yourself living in the home, and how much money you have available to use for down payment and closing costs. Understanding these will help hone your search of potential homes with your realtor to ensure they are within your goals.


2. Check and strengthen your credit

Your credit score will contribute to whether you qualify for a mortgage. Additionally, it may affect the interest rate that lenders will offer for your home loan. Some things you can do to keep and maintain a great credit score is making sure you pay all your bills on time, keep current credit cards open and frequently check your credit score. Learn more about some other ways you can get or maintain a healthy credit score!

3. Get an inspection when you find a potential home

Home inspectors search for details which can help you make a well-informed decision when buying a home. You want to ensure the inspector examines every part of the house including the roof and any crawl spaces. Don’t forget to ask questions while following the inspector through the house to get a better understanding of what they are looking for and any potential concerns.

4. Buy home insurance

Insurance is a must! You will be required to obtain some sort of homeowners insurance before closing a deal. Insurance will help protect your home and your pocket, so do some thorough research to determine the most appropriate policy for you and your home.

5. Stay patient

The homebuying process can be long may result in disappointment. To find exactly what you’re looking for, be sure to take your time and be patient during the process – your home is an important investment, so take the time to make sure it’s right!