First Time Home Buyer Resources
A new chapter of life starts with buying your very own place – a home. It is a daunting yet exciting experience. But buying your first home can be a complicated process that requires a lot of planning and preparation. Times such as these make one wish for someone to provide guidance and answer questions.
What is the process itself? How do you successfully buy a home? Is a loan necessary? What exactly is mortgage? To what extent will my finances be under scrutiny?
These might only be some of the questions crossing your mind.
We are home buying specialists who primarily provide services to first time home buyers. Our advisors are more than ready to help you. With their professional assistance and expertise, all your fears will be eased.
What is the process?
Borrowing a home loan can be broken down into three main steps. The first is accumulating sufficient funds. It is beneficial to do so because the greater funds you have, the lower your loan will be.
After you have decided that your funds are sufficient, apply for a home loan. To be qualified you need to provide information regarding your finances to the lender. If deemed suitable, your loan will be approved.
As a measure of security, you will have to provide “collateral”. Your home will be mortgaged for this. If you ever fail to make timely repayments, the lender has the right to sell your property.
What is a mortgage?
A mortgage is basically the same thing as collateral that we described above. Putting your property up for a mortgage will be compensation or security against your debts should you fail to make your monthly mortgage payments.
What finances do I need to get in check?
A home loan requires verifiable information about your finances. You will have to provide a credit score report, recurring expenses information, details about any debts and so on. Get connected with our advisors to know the exact checklist so that you can start working on putting finances in order.
Why work with us?
- We have years of expertise
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- We follow through our promises
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