By Kyle Casey from Home Experts Realty
Buying your first home can be a daunting experience. Trust me. I know. I’ve bought two homes in my late twenties, and after some life changes, find myself in the interesting experience of not being ready yet to buy another home. I want to buy my next home and get away from paying somebody else’s mortgage. Yes, owning a home is a great way to build wealth for yourself and provides you with an investment into your own future when you decide to “move up” –whatever that may mean for you.
“So, Kyle,” you may ask, “What is the best way to get started?”
Great question! Too many people decide they will never own a home without even starting the process. You may be surprised. I know I have been by the myriad different types of people who I’ve assisted in finding their first home.
The first step you should always take is to contact a loan officer
And I say loan officer explicitly. Not your bank. But a real loan officer. Look, I’m not going to lie to you, a loan officer is just more superior to a bank. Your bank has a lot more rules it needs to follow for loans simply because it’s a bank, but a loan officer has access to many different programs through many different companies. What’s EVEN BETTER? They will work with you. Credit too low? They’ll give you a recommendation for how to improve or even establish it. Not sure which loan program is right for you or even what they all mean? They have all the tools to guide you down the path you should go. How much do I need for a down payment? You guessed it, they can answer that question too.
Next you have two paths you can take. Make a plan to follow up with your loan officer or call a Real Estate Agent.
What if you aren’t ready to start looking for a house yet?
So your loan officer said you aren’t quite ready and told you what to do to get there. I get it. It’s hard news to hear. Let me tell you. Just a year and a half ago I got the same news. Here I am helping people find their own homes, while having to wait myself! It can be very disheartening to be told you have to wait. But that’s no reason to give up! Keep moving and make a plan to pay off that debt or establish that credit line or wait out that work history. Most importantly, keep in contact with your loan officer as things in the credit world can change rapidly and you may find yourself ready to buy quicker than you anticipated.
Your loan officer has given you the go ahead?
Find yourself a great real estate agent, let them know what you want, and the price you want it at. Most agents will set you up to receive emails with houses that fit your criteria. Then get out and start looking!
A final warning:
I have a confession. I’m a realist and as I said before, I’m not going to lie to you: you WILL encounter disheartening moments. You lose out on the house of your dreams or your offer is rejected or (surprise) the house you were planning on putting an offer on just accepted another offer. These are common scenarios and they will happen, but if you’ve done the work beforehand you can minimize their impact and keep moving forward.
Onward to being rent free!
Kyle Casey – Realtor
Cell: 937-632-1010
https://www.facebook.com/KCaseyHomeExperts/
Home Experts Realty
93 W. Franklin St. Suite 106
Centerville, OH 45459
http://homeexpertsrealty.net
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