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My top tips for the first time home buyer
Hi I’m Howard your online marketing realtor with HomeSmart Realty Group a DuPage County Realtor
I am here today to help educate the first time home buyer with my top tips and best advise for first time home buyer.
Really most of this information can be used by anyone who is thinking about buying a home.
1 SEEK WISDOM
Talk to your friends and family that have already purchased a home and ask them what were some of the surprised that they had when purchasing their home?
Other peoples’ experiences will be one of the least expensive lessons that you receive when you are on your journey of buying a house!
Remember that you are not the first person ever to be a first time home buyer


Do you have a budget?
Work out a budget that works for you and your family, Do not buy too much home!
You still need to eat , and have fun
you also need to keep on saving money for lives unexpected thing like children, school and retirement
Oh did I say vacations there is so much more to life than just owning a home!
Real estate is not a short term investment like renting is, it is expensive not only when buying a house for the first time, but it is also expensive when you sell that house.
The home loan! getting the money
The bank and the mortgage company want you to borrower as much as you can qualify for!
That is why it is so important to know your budget, living paycheck to paycheck gets old fast.

Student loans Programs
Student loans can affect how much of a Mortgage loan that you qualify for.
Student loans also can prevent a first time home buyer from buying a house,
• Is your student loan payment current or in default
• Some student loan modified programs may make your loan look like it is in default.
• Being in default is not a good thing when trying to get a loan of any type!
Did you know you can receive a credit for employment history
if you are the first time home buyer that just graduated from college and you have accepted a position in Your field of studies, you qualify for a credit of 2 years of employment history!
first time home buyer programs
You may qualify for first time home buyer programs.
There are some mortgage programs that will help the first time home buyers with their down payment or other financial benefits.
Be sure to check with your lender, realtor, and the local governmental bodies to see if they have or know of any first time home buyer programs you can apply for.
Know all your credit scores
There are many website where you can get your credit score free and it will not affect your current credit score
Interview at least 3 loan providers, even if all three of the mortgage companies run your credit history it will only count as one inquire if the inquires are all done in less than two week period.
Be sure to ask for your interest and the estimated closing costs in writing, at the time you do the application! The closing cost and interest rates will vary from company to company. That is why it is good to interview 3 loan companies.

Have Your own real estate agent!
You need to Have your own buyers broker!
Do not use dual agency, a dual agent is a real estate broker that is representing both parties in a transaction.
A dual agent cannot look out for the best interest of parties at the same time. It is not possible to get both the buyer and seller the best terms, concessions, and price at the same time!
Remember you are a first time home buyer! Do not use the listing broker they are working for the home seller, use your own buyers broker, they are working for you!

In Illinois Hire an attorney!!!
It is wise to have an attorney represent when buying a house even if you are not a first time home buyer,
Your attorney will make sure that property you are buying is the correct property and that the property has a clear marketable title for resale and explain to you why title insurance is good for your own finical protection.

#10 Do not use your credit or credit cards after you get your mortgage approval!
Do not make any major purchases at this time. Using available credit can greatly affect the loan process wait till after you close on your home to buy the furniture, appliances or even a car.
Do a home inspection!
A home inspection is a fact finding mission that will better inform the buyer of the condition of the home that they are buying.
A home inspector is a licensed trained individual that will inspect the structure and all the systems of the home and he will give the buyer his written opinion of the inspected property.

I believe that you have received great value from my top tips and advice for the first time home buyer
I’m also sure I gave you several subject to ponder when buying a house. Please hit the like button leave a comments below!