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Common Mistakes First Time Home Owners Should Avoid

Searching and buying a home can be a thrilling, daunting, and nerve-racking process for a first-time home buyer. Avoiding common mistakes will make the mortgage process and home buying experience a delightful one. Researching before taking action is essential. Home buying involves a big investment and a first time home buyer shouldn't make common mistakes. It's vital for you to keep some things in mind before you start searching for a home. Hiring a professional mortgage planner will help the home buying process, speed up the mortgage application process, and will likely result in an earlier closing date. This presentation provides valuable information about the top common mistakes first-time home buyers should avoid. https://www.drewmortgage.com/common-mistakes-that-first-time-home-buyers-in-ma-should-avoid/

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Common Mistakes First Time Home Owners Should Avoid

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  1. Common Mistakes First Time Home Buyers Should Avoid

  2. Introduction For a first-time home buyer, finding and buying a house can be a daunting, nerve-racking and exhilarating process. One way to make it less daunting is to avoid some common mistakes. The key to this is to invest some time in doing research beforehand. 2

  3. Ignoring the Home Inspection: This is a most important step, as purchasing a home is a big investment – both financially and emotionally. You don't, at any cost, want to regret your decision later on. The home inspection will highlight any current problems and concerns that may require attention in a few years. It’s important to know the problems and concerns and these should be factored into your decision when you consider the length of time you're likely to occupy the house and the condition it’ll be in when you sell it! 3

  4. 2)Not Getting Pre-Approved for a Mortgage: Getting pre-qualified for a mortgage is very important, even before you start searching for a house. Go step-by-step, patiently, and compile your documents carefully according to the required list you’ve been given. Clean up your credit score by making payments on time, pay off any debts, and boost your chances of getting pre-approved for a mortgage. It’s recommended that you seek expert advice to make sure your credit score and documentation will garner yourself pre-approval for a mortgage loan. 4

  5. 3)Over Extend Your Budget: Make a proper financial plan allowing for hidden and unknown costs. Make sure you’ve saved a sufficient money for the down payment, insurance, interest, and taxes, with some money put aside for contingencies. Remember that once your budget is in place, it’s very important that you stay on track with it. The mortgage loan company will be very pleased to see a budget and even more pleased to see it being kept!

  6. 4)Not Hiring Professionals: As a first time home buyer, navigating your way through the home buying process can be a challenge. It’s advisable to hire a professional mortgage planner who can help make your dream of buying a home much easier to achieve. Their experience and access to a huge network of resources will put you in an excellent position, speed up the mortgage application process, and ensure an early closing date.

  7. Drew Mortgage Associates, Inc. is a leading mortgage company in MA with years of experience and has qualified home loan officers that’ll help you in every stage of the home loan process. We'll help you to choose a home that'll suit your needs and review the right mortgage plan for you! We are the most preferred mortgage company in MA. What are you waiting for? Call Drew Mortgage Associates, Inc. today! To Read more about Common Mistakes First Time Home Buyers Should AvoidClick here. 5

  8. DREW MORTGAGE BRANCH OFFICES: Drew Mortgage Associates 196 Boston Turnpike Road Shrewsbury, MA 01545 Phone: 508-753-1656 Website: https://www.drewmortgage.com/ Peabody Mortgage Lenders 1 Mt Pleasant Drive Peabody, MA 01960 Phone: (978) 750-1080 Boston Mortgage Lenders 232 Commercial St Boston, MA 02109 Phone: (617) 523-3060 6

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