14895 Bear Valley Blvd. Ste B

Hesperia, Ca 91763

9670 Central Ave

Montclair, CA 91763

(909) 964-3749

qualityrehomes@gmail.com

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Are you thinking about buying your FIRST home? If this is the case, you’ve got plenty to do! There are also somethings that you shouldn’t (don’t want) to do during the process.

Check out this list of Do’s and Don’t for you first time home buyers:

DO get pre-approved for a home loan mortgage

  • This may be the most daunting part of the process to most first time home buyers.  Have no fear!! We are here to help you every step of the way. Getting pre-approved will give you a look into your overall financial capacity and what your max budget for a home will be.
  • Documents you will need:
    • Copy of Drivers License
    • Copy of your Social Security Card
    • W-2’s or 1099’s from the past 2 years
    • Tax forms from the past 2 years
    • 2 Months recent Bank Statements (checking and savings)
    • 1 Months Pay stubs
  • Once you gather this information, DO make and appointment with your lender to go over your any questions you may have and what you can qualify for!

Click below to choose a realtor to help you get started!

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Do Choose a Reputable Lender

  • We work with some great lenders who have helped several clients qualify for a home loan. You can choose one that we suggest and trust or you many find your own.
  • Some lenders specialize in different types of loans that may fit your specific financial needs.
  • Always feel free to get a second opinion.
  • Ask about a co-signer and how adding one can possibly help you qualify for more.
  • Ask about down-payment assistance programs that you may qualify for.

DO the Math

  • It is very important that you understand how much your monthly payment will be.
  • As a general rule of thumb, keep your housing payment equal to or lower than 50% of your monthly gross income.

If you would like tips on how to use the Mortgage Calculator on the right sidebar, click below!

Click Here

DON’T Let the Low Interest Rate Fool You

  • It is always important to go with a lender you can trust who won’t lead you astray and who will be honest and open with you. Some lenders will lure newbies by their low interest rates only to add higher back end fees.
  • Low interest rates can be a good thing, if you plan on staying in your home for the next6 20-30 years., so keep that in mind!
  • Talk to your lender about what you can expect when choosing a low interest rate and the fees that come with it.

DO Find Your Perfect Home

  • This is where Quality Real Estate takes over. Once we have a budget set for finding your first home, the real fun begins.
  • We will send you a list of homes in your price range that fit you and your families needs! Once you pick a couple you would like to view we will start the hunt!
  • Be picky and don’t fall for the first home you see, take the time you need to choose a home that you really love.
  • We are here to help you every step of the way!

DON’T make a huge purchase before closing escrow

  • Your lender will check your debt just before closing. So if you go buy a fancy new car while in escrow, your lender may back out on you because now you have acquired more debt.
  • Hold off on buying a car, appliances, furniture or anything of large value until after you’ve got the keys!

Lastly…

DO work with Quality Real Estate

  • With the amount of experience our agents have, you will never be left questioning.
  • We cling to our moto of “Quality Service equals Quality Results”.
  • You will never be lead astray and we give each client 100%.
  • We take the time to understand your specific real estate needs and work hard to make the process as east for you as possible.
  • As a first time home buyer it can be scary, with Quality Real Estate you can trust that we are on your side and have your best interest in mind!

 

Info Source: Mortgage Lenders of America and REALTOR Mag

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