By, Jesus Flores, Loan Officer

Buying your first home is a big investment – one that can affect your lifestyle and your credit. The more information gathering you do before making your decision, the greater your satisfaction is likely to be before, during and after your move. To get you started, here are 5 things to know before buying your first home.

How much you can afford: Consider all costs involved, including the down payment, closing costs, your monthly mortgage payment, taxes and maintenance, insurance and any applicable association fees.

Your credit score: Credit is an agreement to borrow money with the promise that you will pay it back later through scheduled payments. Good credit may get you a lower rate on your loan. To learn about credit and how to get your score.

Your financing options: Rates, terms, discount points and other details vary by loan type and with your credit. If you’re ready to take the next steps, find out what’s available to you. .

The right real estate agent for you: Real estate agents specialize in a variety of areas and are each familiar with different neighborhoods.  Choose one who you feel best aligns with  your needs and personal preferences.

The neighborhood: Safety, commute times, noise and other surrounding factors can influence your quality of life. Make sure you visit the area, walk around the neighborhood and get a feel for the community. Take the time to research the community online to learn of any upcoming developments that may impact the housing market in that area, and look for other red flags that may impact your choice to live there.

Ready to get started? Find out more about your financing options, the home-buying process and what you can afford by contacting us at 714.493.2657