Know When To Hold 'Em and Know When To Fold 'Em: First Home Purchases
5 Things That Will Make You Look Like an Expert
09:16 17 March 2013
Are you finally ready to take that big step and purchase your first home? What have you done to prepare yourself for this momentous occasion? There are some important steps that you can take to ensure that you get a great deal, with a low interest rate mortgage and a monthly mortgage payment that fits your budget.
Knowing what to expect and how to find and negotiate the best deal for your first home purchase will put you far ahead of the curve. Here are 5 things that will help you get the best deal and make you look like an expert in the process.
- Do your homework! Learn everything you can about the home buying process before you start. Be an educated and informed buyer.
- Consider hiring a qualified mortgage broker to assist you throughout the process. Although there will be a cost to consider, that cost can easily be offset if they provide advice and direction that helps you navigate the available options to achieve the best outcome for you.
- Compare lenders to find a company that provides the lowest interest rates with the highest customer service. This will take some time and research on your part, but you may be pleasingly surprised at how much finding a lender with this combination can help you in the long run.
- Get mortgage protection insurance and mortgage life insurance to protect you, your home and your family in the event you are injured, unemployed, become ill, or in the event of your death.
- Don’t rush the process. Be ready to take as long as it takes to get the right deal. Don’t settle for less than what you can live with for the life of the term of the mortgage. Don’t appear desperate at any time in the process.