So, you’re ready to take the plunge. You’re done with the renting life, and ready to become a homeowner. The tasks ahead seem daunting. Where do you get started?
At Primary Residential Mortgage, Inc., we’ve been helping people in the Maryland area with this exact question for years. We’re a mortgage company dedicated to providing top quality service for all our clients, with a long track record of success.
For a small taste of what we provide to our customers, here are a few basic tips for people buying their first home.
Check Your Credit
These days, there might not be a single bigger factor in the home buying process. A home loan is necessary for the vast majority of people buying their first house, and your credit score goes a very long way to determining which loans you qualify for.
There are many free credit services online, and be sure to utilize one of them – do not simply assume your credit is good based on your spending history, as surprises can happen. Be sure to carefully check your credit report to make sure there are no errors.
Assets and Liabilities
Separate from your credit report is a basic understanding of what money is owed and what money is entering your bank account. Mortgage lenders will want to see how your income flows, and note your expenses before determining your mortgage rates. At Primary Residential Mortgage, Inc., we’re here to help with any issues you may have during this process.
There’s a lot of paperwork involved in the home loan process, and it can get tough if you aren’t well-organized. Plan out the documents you need well in advance, and stay on top of the moving parts as you move along.
Different lenders and mortgage companies offer different experiences, and you have the right to choose which you prefer. Ask friends, family and co-workers about experiences they’ve had with different lenders, and get recommendations.
At Primary Residential Mortgage, Inc., we pride ourselves on the highest levels of integrity and customer satisfaction. Our clients are consistently pleased with our services and professional staff. Contact us for help with your home loan or any other part of the home buying process.
Tips for first-time home buyers as they prepare to enter the mortgage market, including those offered by Primary Residential Mortgage, Inc.