Alright, we’re almost there!  This is part four of five of Insider Tips for First Time Home Buyers.  Let’s talk MORTGAGES!

Have you ever heard of the term “Don’t put the cart before the horse”? Well, a ton of people tend to do this when looking for homes. But what does it mean? It means, they don’t get their pre-approval first, which is a MUST.  How much YOU think you can afford compared to how much the BANK thinks … may be very different.

Get out and talk to a mortgage broker or a bank and figure out exactly what you’re approved for and get that pre-approval. It’ll help you in your budgeting and in your search for that new home, not to mention negotiations as well. It gives peace of mind to sellers that your pre-approved and can afford the house. It may even mean making that difference about whether or not they accept your offer. It makes the process a lot smoother, quicker, and it also means you’re buying a house that you can actually afford.

Now, between buying the house and closing on the house, maintain the status quo … keep your credit in check and don’t change your job. Anything that happens during that time may prevent the bank from giving you the mortgage at closing. We’ve seen it happen! Keep your job and credit the same way, at least until you close. After that, do what you want.

Now, onto the LAST step in buying your first home.  Check out the conclusion to this series in part five.