7 - GREAT TIPS FOR HOME BUYERS! 1) Choose a Reputable Lender, Insurance Provider and a Home Inspector, outside of your Realtors office. These are the top three mistakes. Dont be tricked with false information. 2) Get pre-approved for a home loan mortgage before looking for that new home. By getting pre-approved, you’ll be better prepared to find a home and have a stronger position during negotiations. Being pre-approved means you’ll be able to focus on homes for sale in your price range. Plus, you’ll be more aware of your overall financial capacity, and more likely to put an offer on a home that fits your lifestyle and your means. 3) Do the math. Your monthly housing costs should be gauged against your income. Keep your total housing payment equal to or lower than 50% of your monthly gross income. 4) Don’t get tripped up on low-interest rates. Lenders know that rookie home buyers can be lured by low interest rates. Some lenders take advantage of this by offering low rates only to add higher back-end fees. Remember: lower interest rates can be a good thing, but if you don’t plan on staying in your home for 20-30 years, fees you pay to get them may offset the perceived benefit of the lower rate. 5) Resist the temptation to make an offer on the first home you like. Shop around and take your time before committing to one of the biggest financial relationships of your life. Also, take time to become an expert in the area youre looking. Get to know the home values in the neighborhoods you are considering and ask your Realtor for the sales price of homes that have recently sold in those areas. 6) Don’t forget about closing costs. Closing costs include expenses like title and settlement fees, taxes and origination, plus prepaid items like homeowner’s insurance or homeowner’s association fees etc. It adds up fast! 7) ALWAYS GET A HOME INSPECTION. Call today for a complete, honest and quality home inspection. 209-6766. Black Hills Professional Home Inspections llc Rapid City, South Dakota Serving all of Western South Dakota and the Black Hills Areas.
Posted on: Mon, 08 Dec 2014 01:01:40 +0000
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