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Five Tips For First-Time Home Buyers

Five Tips for First-Time Home Buyers

No matter how much time you spend on researching and educating yourself about your home purchase, it’s hard to cover every detail.

Here are a few tips for avoiding rookie mistakes with your first home purchase:

1. Save as early as you can:

Even if you think you’re years away from buying your first home, try to start saving for your down payment. It makes a huge difference in your monthly payments, and helps avoid paying Private Mortgage Insurance.

2. Be thorough with mortgage shopping:

There are countless resources out there that can help you get the best terms for your mortgage. It may seem like a lot of work to shave less than a point off your mortgage rate, but it’ll save you thousands in the long run.

3. Consult a skeptic:

You’re likely to fall in love with a home, and that can make it difficult to take problems seriously. Bring along a skeptical friend or family member who can give you an honest opinion.

4. Be patient with getting settled:

You’ll be anxious to make your new home your own, but take some time to see how your budget truly shakes out. In other words, hold off on big furniture purchases and remodeling projects.

5. Make sure you’re happy with the neighborhood:

The house may be perfect, but don’t discount the surroundings. You don’t want to end up in the suburbs if you’re going to miss walking to your favorite coffee shop, and you don’t want to settle for the city if you’re looking forward to some peace and quiet.

 

Fidelity Bancorp Funding LogoFidelity Bancorp Funding is an Orange, California-based firm providing mortgage options to meet the long-term needs of clients of all ages and scenarios, including Realtors, homebuyers and investors. Founded in 2000, the firm is dedicated to superior standards and best practices, and recently surpassed $9 billion in funding provided nationwide. Fidelity Bancorp Funding specializes in assisting homebuyers or those in complex situations or who need alternative options such as bridge financing to help ensure that they get the deal they want.

For more information, visit www.fidelitybancorpfunding.com or call (877) 585-FUND.

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