First Time Home Buyers

Buying your first home is an exciting journey, but preparation is key to making the process smooth and successful. Here are some steps to help you get started:

1. Check Your Finances

• Review your credit score and credit report. A good credit score can help you qualify for better mortgage rates.
• Calculate your budget. Understand how much house you can afford by factoring in your income, debts, and monthly expenses.

2. Save for a Down Payment

• While some loans offer low or no down payment options, saving for a down payment can reduce your monthly mortgage payments.
• Don’t forget to budget for closing costs, which are typically 2-5% of the home’s purchase price.

3. Explore Down Payment Assistance Programs

• Look into local, state, or federal programs that can help cover part of your down payment or closing costs.

4. Get Pre-Approved for a Mortgage

• A pre-approval letter shows sellers you’re a serious buyer and gives you a clear idea of your price range.
• Work with a trusted lender to explore your options and find the best loan for you.

5. Define Your Needs and Wants

• Make a list of what you need in a home (number of bedrooms, location......) and what would be nice to have (a large yard, modern kitchen...).
• This will help you focus your search and find a home that fits your lifestyle.

Feel free to call me at 417 -255 5530  Karolina Kemski Realtor at Assurance Realty West Plains Missouri