As the housing market and economy continue to strengthen, many folks feel they are back on their feet and are looking to buy their first home. The price for renting a home continues to increase as well, adding urgency to many young adults.
Understanding the Home Buying Process
Buying your first home is an intimidating process. Not only is this uncharted territory, this is usually the largest financial purchase you will make in your lifetime. Plus, there are a lot of moving parts including finding a home, making the offer, getting approved financing, and many more. Talk about pressure!
Luckily, you are not in this alone. Your Realtor and Mortgage Professional have helped hundreds of people get financing for their first home. Buying your first home takes a lot of preparation and dedication throughout the entire process in order to make it a successful journey.
Along the way, we have seen all the different ways people run into problems and cause unwarranted frustration. That’s why we have compiled this infographic detailing the 12 most common mistakes we find first time homebuyers often make. Take a look so you don’t fall into the same traps and follow our tips for success!
Created by First Commerce Financial.
For more information about the process of getting financing to purchase your first home, please contact your local mortgage broker with any questions.
About the Author: Kirk Chivas is a licensed Loan Officer and co-owner of First Commerce Financial, LLC, a mortgage brokerage based in Wixom, Michigan. With over 17 years of experience, Kirk has committed to providing Michigan residents with accurate and honest mortgage advice. If you have any questions about your current or future mortgage needs, please feel free to ask Kirk a question over on his website.