First Time Home Buyers Guide
Purchasing a home for the first time can be one of the most significant moments of your life. It’s a process that may seem daunting, but is actually quite simple – once you know what you’re doing. As mortgage experts with years of experience, we’re able to help you understand the process of purchasing your first home and answer any questions you may have about it.
To get you started, we’ve outlined the basic process to help you prepare for and avoid common mistakes that people make when purchasing their first home. We’ve also answered many of the common questions first-time homebuyers have.
Before You Get Started
One very important consideration is to ensure you that you have a competent group of professionals working for you. This includes mortgage brokers and bankers, realtors, lawyers, appraisers, inspectors, insurance agents and several other potential services. Each individual on your team plays a key role in the purchase of your first home – and if everyone works together, it will create a seamless process that is exciting and enjoyable.
As such, we suggest that you consider the following questions and apply them to your search while building your team, including your choice for a mortgage broker.
Remember: the most important person in this process is you, the purchaser, so it’s important to select people that are a good fit.
Key Questions for Potential Team Members:
- How long has the individual been in the business?
- How much volume do they do annually?
- Is their website easy to understand?
- Are they able to answer your questions?
- Are they up to date with industry trends and regulations?
- Do they have online reviews?
- Is their process laid out clearly?
- Will they offer unbiased advice or do they charge a fee for every interaction?
- Have they ever had a mortgage as an individual?
- Do you know someone who’s worked with them that can give you a personal recommendation?
- Are they able to connect you with other professionals involved in the process with good reviews?
Often times, your home buying team will be with you for years, as you move onto your second, third or fourth purchases. It’s a lifelong relationship that can pay dividends.
Advice, understanding and friendly service are the backbone of everything we do at Spin Mortgage and we’re excited by the chance to help you get into your first home.