We’re buying a home!
Well… we’re starting to plan, let’s not jump ahead of ourselves. Tim and I recently got engaged last summer and while we are anxious to plan a wedding, we are just as anxious to buy a house, especially while rates are low! Wedding & home, did I mention we’re on a budget?
So where do we start?
I am extremely lucky to have so many wonderful industry professionals around me everyday, that have to deal with me asking a million questions but they’re great resources. That’s exactly where you start, ask questions!! Ask real estate professionals, and more than one!
We are attending a First Time Home Buyer’s seminar these next few weeks. The Town of Plymouth hosts one on a regular basis. Completion of this seminar will satisfy the counseling requirements of loan programs and some of the community programs. Bingo. Just what we need. The first night was last Thursday and was filled with great information – budgeting, knowing and understanding your credit, advice from local realtors and mortgage brokers – tons of information that is good to know. Check out Plymouth’s Redevelopment Authority or contact your Town Hall to make sure they offer the same program.
Our next step.
Our next step is to meet with a mortgage broker. I tend to fall in love with homes very fast. So although I am on alantehomes.com every. single. day. obsessing over the Cape with the granite countertops, double wall oven, and 1.5 acres of private land, I need to come back down to earth and really find out what we actually can afford. Getting preapproved before even looking at homes is extremely important. I work in an office full of wonderful real estate agents that are so excited for me to start looking at homes, however, they STILL won’t take me to look at one single house without a preapproval. But they’re smart – they know that I, along with other home buyers, will be crushed when we find out the homes we’ve been looking at are not in our price range.
Therefore, we’re making appointments to meet with local mortgage brokers and banks for next week – yes more than one! I’d like to find out what the biggest differences are between a mortgage lender and a bank, what they offer and what the best program is for us. It’s also important to shop around for a lender that will work the hardest for you, that will answer all of our questions with customer service as their first priority. After all, this is the BIGGEST purchase you’ll ever make.
Until next time!