Whether you're buying for the first time or returning to the market after several years, steering clear of these costly mistakes will help your new home live up to your dreams.
Eight of the most common — and most costly — missteps buyers make, and how to sidestep each one.
Qualifying for a larger loan doesn't mean you should take it. It's often wiser to borrow an amount that leaves you with a comfortable monthly payment — not the maximum you're approved for.
Do everything you can to improve your score and make sure your report is error-free, so you secure the best mortgage rate. Here's how to protect your credit while you buy.
Shop around. Financing is available through many types of lenders and brokers, with real differences in service, rates, and fees. See how the mortgage providers compare.
Lenders recheck your finances right before closing, so hold off on big moves until after — no changing jobs, opening new credit to buy furniture, or moving large sums between accounts.
Protect yourself by including an inspection contingency in your offer.
Look for programs offering reduced down payments, down-payment assistance, or closing-cost help — available at local, state, and national levels, with some aimed at first-time buyers. Pair them with these ways to save for a down payment.
Calling the agent whose name is on the listing may seem logical, but the listing brokerage is duty-bound to represent the seller's interests — not yours.
One of the best ways to protect your financial interests is to choose an agent who's earned the Accredited Buyer's Representative (ABR®) designation — like me. Here are the questions to ask before you hire.
As your Accredited Buyer's Representative (ABR®), helping you steer clear of these costly mistakes is exactly my job. From your first questions through closing, I'll guide you so your new home is a smart decision as well as a happy one.
Common costly mistakes include borrowing more than you can comfortably repay, not checking your credit report, failing to compare lenders, making financial changes during underwriting, skipping the home inspection, overlooking homebuyer assistance programs, buying through the seller's agent, and not choosing a qualified buyer's agent.
Not necessarily. Just because you qualify for a larger loan doesn't mean you should take on the maximum debt. It's often wiser to borrow an amount that leaves you with a comfortable monthly payment.
Contacting the agent on the listing may seem logical, but the listing brokerage is duty-bound to represent the seller's interests, not yours. One of the best ways to protect your financial interests is to choose your own qualified buyer's agent — ideally one with the Accredited Buyer's Representative (ABR®) designation.
Yes. Including an inspection contingency in your offer protects you financially. Spending roughly $500 to $700 on an inspection now can prevent a future expense of $20,000 or more — for example, if the inspection reveals the home needs a new roof.
Tell me a little about your plans in Las Cruces, and I'll help you avoid the costly missteps and make confident, informed decisions — at your pace, with no pressure.