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6 Steps To Buy Your First Home In MA | Drew Mortgage

Buying a home for the first time is always a special feeling. You become excited and nervous at the same time. Worry no more! Read this presentation by Drew Mortgage, the best mortgage lenders in Massachusetts, curated specially for first-time home buyers in MA.

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6 Steps To Buy Your First Home In MA | Drew Mortgage

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Presentation Transcript

  1. Introduction • Buying a home for the first time is an extraordinary feeling for people. • It is one of the most significant purchases that you will make in your life. • A first-time homebuyer is the one who buys a home for the first time or someone who is buying the property after a break of 3 or more years. • Drew Mortgage, mortgage lenders in Massachusetts, has curated a stepwise list for your first home buying process. Let’s check it out.

  2. STEP 1: DETERMINE YOUR BUDGET • The process of buying your first home should always start with determining your budget. • Household finances and the budget for a home should be in sync. • Always try to save the maximum amount for the down payment. • Once you know how much you can afford and the features you are looking for in your first home, you are good to move ahead.

  3. STEP 2: CHECK YOUR CREDIT SCORE • Most first-time home buyers prefer to take a mortgage. • Mortgage lenders use the credit scores to determine how much loan can be given to you. • A low credit score indicates your lack of reliability, whereas a high credit score indicates that you are good at repaying debts. • This score matters a lot because of the significant loan amounts.

  4. STEP 3: TAKE MORTGAGE APPROVAL IN ADVANCE • As you start the buying procedure, you may face mortgage approval problems due to credit scores or other paperwork. • This is why the best idea to get your mortgage pre-approved. • It saves a lot of time, and you get to know the limits for your mortgage amount. • Connect to Drew Mortgage for fast approvals. • We are one of the leading Massachusetts mortgage companies.

  5. STEP 4: START YOUR FIRST HOME SEARCH • Once you have mortgage approval, that is the best time to begin your home search. • Connect to the Real Estate Agents to find multiple options suiting your budget and personal needs. • You can also begin a house search within clicks right from your comfort zone. • Shortlist a few suitable options, connect to the sellers. • This process can take longer than expected, be patient.

  6. STEP 5: SCHEDULE A HOME VISIT • Visit and check the property thoroughly before signing any legal documents. • Schedule your visit to the shortlisted home. • Check if the home meets all the criteria mentioned by the seller. • Have an inspection for electric connections, water supply, the neighbors, location, and more. • If your new home requires some repairs, talk to your mortgage lenders. • They will suggest to you the best options available for your needs.

  7. STEP 6: COMPLETE DOCUMENTATION PROCESS & CELEBRATE • It is so satisfying feeling for a first-time homebuyer to own the home finally. • Complete your documentation process. • Negotiate on the property and then proceed with the buying process. • Read all the documents carefully and sign. • Ask your Real Estate Broker to ensure everything is done in the right way. • Connect to Drew Mortgage, the best mortgage lenders in Massachusetts.

  8. DREW MORTGAGE BRANCH OFFICES: Drew Mortgage Associates 196 Boston Turnpike Road, Shrewsbury, MA 01545 Phone: (508) 753-1656 Peabody Mortgage Lenders Boston Mortgage Lenders 1 Mt Pleasant Drive Peabody, MA 01960 232 Commercial St.Boston, MA 02109 Phone : (978) 750-1080 Phone : (617) 523-3060

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