6 Costly Mistakes to Avoid Before Buying a Home
Mortgage regulations have changed significantly over the last few years, making your options wider than ever. Subtle changes in the way you approach mortgage shopping, and even small differences in the way you structure your mortgage, can save or cost you literally thousands of dollars and years of expense.
Whether you are about to buy your first home, or are planning to make a move to your next home, it is critical that you inform yourself about the factors involved before you buy. In answer to this issue, Industry Insiders have prepared a FREE special report entitled “6 Things You Must Know Before You Buy”.
Having the right information before hand can undoubtedly make a major difference in this critical negotiation. Before you commit your hard earned dollars to monthly mortgage payments, consider 3 of the 6 issues below. Effective consideration of these important areas can make your payments work much harder for you.
1. You can, and should, get pre-approved for a mortgage before you go looking for a home.
Pre-approval is easy, and can give you complete peace of-mind when shopping for your home. Your local lending institution can provide you with written pre-approval for you at no cost and no obligation, and it can all be done quite easily over-the-phone. More than just a verbal approval from your lending institution, a written pre-approval is as good as money in the bank. It entails a completed credit application, and a certificate which guarantees you a mortgage to the specified level when you find the home you’re looking for.
2. Know what monthly dollar amount you feel comfortable committing to.
When you discuss mortgage pre-approval with your lending institution, find out what level you qualify for, but also pre-assess for yourself what monthly dollar amount you feel comfortable committing to. Your situation may give you a pre-approval amount that is higher (or lower) than the amount of money you would want to pay out each month. By working back and forth with your lending institution to determine what this monthly amount is, and what value of home this translates into at today’s rates, you won’t waste time looking at homes that are not in your price range.
3. You should be thinking about your long term goals, and expected situation, to determine the type of mortgage that will best suit your needs.
So there are 3 of the 6 in an effort to draw attention to this important topic. If you would like to see all 6 of the costly mistakes. We have put together a free report entitled “6 Costly Mistakes to Avoid when buying a Home” which explains in detail all the issues. You can grab a free copy of the report here by clicking the link here or give us a call at 718-608-4892.
Having the right information before hand can undoubtedly make a major difference in this critical negotiation.
To get your FREE Special Report, call us directly at 718-608-4892 or visit https://www.yhsgrnyc.com/buyers/6-buyer-mistakes/
Get your free special report NOW to find out what you need to know before you buy a home.
Thank You for reading this weeks blog and Go Serve Big!
Hal and Jason Blake
If you or anyone you know is considering making a move or have any real estate related questions, feel free to give us a call or pass our number along to anyone you think we can help at 718-608-4892.