It can be an exciting and stressful time as you ready yourself to purchase your first home. It can be frustrating to organize your finances in the ways that your lender and realtor will need them. This First Time Homebuyer series is here to help guide you along your way to home ownership. A good Realtor and Loan Professional are key to having a smooth ride on your first home purchase. A good Realtor will have a group of loan professionals on hand that can handle your particular situation. The following video explains what you need to do to get started…
Affordability Factor Calculator
Some Of the Tips in this Video…
- First you will need to look at your financial situation
- You will need to know your affordability factor
- You’ll need a 40% debt to income ratio or better
- When buying a first house, envision what the next 5 years of your life may look like and buy accordingly
- Know that life events can dramatically affect your debt to income ratio
- Getting a mortgage preapproval is a good idea
- You’ll need to have access to your bank statements, credit score, and other financial information to get pre-approval
- Your lender and realtor can help you to find out if you qualify for and special loan programs
First Time Homebuyer Series Posts
- 1st Time Homebuyer Series - #4 What Happens After the Offer is Accepted?
- First Time Homebuyer Series - #3 Writing and Submitting an Offer
- First Time Homebuyer Series - #2 Knowing Your Budget and Making Trade Offs
- First Time Homebuyer Series - #1 How to Get Ready to Buy Your First Home
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Tom Reese has 20+ years experience in helping his clients sell their homes for a price that sells and makes them a profit. Tom has helped his clients buy and sell property in every neighborhood in Northern Kentucky and Cincinnati.
About Tom Reese
Helping my clients attain their dreams has been the foundation of my success. With my strong attention to customer service, I have earned my clients continued support and referrals. Put my enthusiasm and dedication to work for you!
Call Tom anytime at (859) 393-1293
Tom may be new to rapping but he’s not new to real estate!