Tips for First-Time Home Buyers
The home buying process for first-time home buyers doesn’t need to be scary. Allow NOVA ® Home Loans to be your trusted resource on your road to homeownership. If purchasing your first home is in your future, follow these tips for a successful lending experience:
1.) Pay Debts. Finish off as much debt as you can to improve your credit score and free up as much cash as possible.
2.) Grow your Savings. To purchase a home, you will need to cover costs, such as, down payments, closing costs, inspection and title fees among others. Your lender will also need to review your financial behavior by going through your financial statements.
3.) Do your Research. Learn what neighborhoods are safest and which school district you would like to live in. Factor in commute times and businesses you would like to live near and come up with a clear and definitive list of must haves.
4.) Set a budget. Determine what your debt to income is and what you are comfortable paying a month. Set your sights on a home you can afford and most importantly, speak to your NOVA ® Home Loans Loan Officer for guidance.
5.) Be Patient. Preparing for home buying can take some time especially on your first home. It takes time to reduce debts, save money and learn the ins and outs of home buying.
6.) Speak with a NOVA ® Home Loans Loan Officer – An expert in mortgage lending will help you get to where you need to be to buy the home of your dreams.
With the help of NOVA® Home Loans, you will be making a step in the right direction.
Ready for your first home? Call NOVA ® Home Loans.
The information contained here is educational only and does not represent a commitment to lend or extend credit. Other conditions and restrictions may apply. Rates and available programs are subject to change without notice. Contact your loan officer for more information.