A guide to purchasing your first home in today’s market
Owning a home in today’s world is the American dream. Last year, over 4.5 million achieved the American dream by purchasing a home. Though many bought a home, the route of purchasing your first home can be quite challenging if you do not have assistance from a real estate agent.
Without planning for this process, the process can be prolonged and costly.
The Raleigh Cary Realty Team can make your process simple and easy. Our team is equipped with local experts and skills that can help guide you through the home-buying process. In this blog written by Raleigh Cary Realty, we will give you a guide to purchasing your first home in today’s market.
A guide to purchasing your first home in today’s market:
- Check financial health: The first thing to do when looking to purchase your first home is to check your financial health. It is important to check your credit score, find your DTI score and calculate how much house you can afford.
- Plan your down payment and closing costs: The next thing to do is plan your down payment and closing costs. A down payment is normally 20%. However, you can calculate whatever payment you would like. It is also essential to check your closing costs as well.
- Find the right mortgage: When purchasing a home in NC, it is essential to find out which home loan works for you. There are a wide variety of loans you can choose from. There are conventional mortgages, FHA loans, VA loans, and USDA loans.
- Get mortgage pre approval letter: After finding which mortgage plan is right for you, it is essential to get a mortgage pre approval letter. A mortgage pre approval letter helps you: understand your budget, stand out to sellers, and accelerate the process.
- Start home search: Once all of the steps listed above are completed, you can start your home search. The Raleigh Cary Realty Team can assist you with the home search process. Our team is equipped with local experts and skills that can help guide you through the home-buying process. Our licensed agents specialize in Raleigh, Cary, Wake Forest, metropolitan area.
Owning a home is the American dream. Whether this is your first home or fifth, Raleigh Cary Realty can assist you throughout the home buying process. We understand the real estate market and are prepared to find the right home and get the best price for your next home.
