By Katie Bain
Two of the biggest problems that home buyers make are: 1. Not knowing how much of a mortgage loan they really qualify for and 2. Shopping for a home without getting their financing in place.
If you’re a first time home buyer and are considering buying a home, here are 3 things you should do before buying a Portland Oregon Home.
Tip 1 – Think about Your Budget NOW
When buying a home it’s important to think about all of the long term costs which are involved in homeownership like: mortgage payments, homeowners insurance and property taxes then add those costs to your regular monthly budget to make sure you can comfortably afford to own a home.
Tip 2 – Consult with a Mortgage Lender
After verifying your monthly budget take the time to consult with a mortgage lender to get pre-approved for a mortgage loan.
Pre-approved is different than pre-qualified since this will tell you the exact amount of money you can borrow and it will also help the homeowner to have confidence that you have your financing in place to buy a home.
Tip 3 – Don’t Change Jobs Just Yet
Although you may be thinking about changing jobs it’s best to put those plans on hold, at least for now.
Keeping your current job is a sign of economic stability and it will help your chances of getting pre-approved for a mortgage loan.
For more tips on how to get ready to buy a home, or to view Portland Oregon Homes for sale, contact me, Katie Bain, Realtor ® with EquityPoint Real Estate by calling me at (503) 595-8800 or click here to connect with me through my website.
