5 Tips For First-time Homebuyers

Before you start shopping for a home, determine your ideal price range first. Make sure that you'll be able to afford the monthly payments. Look at houses that are within your budget. If you cannot afford it, don’t waste time on it.

Save for a down payment of at least 3.5% or more. The bigger down payment you'll be able to give, the lower your monthly payments will be.

One of the biggest mistakes of first-time homebuyers is not budgeting for closing costs. Closing costs include expenses such as appraisal, home inspection, and homeowner's insurance. It is usually about 2-5% of the house's purchasing price.

Getting pre-approved for a loan means that you are qualified by the lenders to borrow a certain amount. It will also let you know how much loan you'll be given based on your income and debts. Getting pre-approved will also show the sellers that you are a serious buyer.

Most first-time homebuyers would not shop for mortgage loans because of the confusing process. At Ebenezer Mortgage Solutions, our professional mortgage brokers will do all the hard work for you. We'll make sure that you'll get the best home loan packages in Florida.