- Not having a budget – Know what you can afford and stick to it. Housing should be no more than 25% of your take-home pay.
- Not checking credit reports – Take a look and correct any errors before you apply for a mortgage.
- Not comparing mortgages – Talk to more than one lender, and ask about first-time homebuying programs.
- Becoming emotionally attached to a home – Keep a business mindset and think about the future.
- Applying for credit before the sale is final – This will alter your credit score and could affect closing.
- Foregoing an inspection – Just DON’T
- Underestimating costs of homeownership – Your mortgage plus taxes, insurance, utilities, HOA’s, repairs, yard, etc.
- Spending your entire budget – Leave enough money for unexpected expenses and emergencies.
For more information or to get started call/text Lindsey Stucky at Coldwell Banker Select (918)269-7652.