Common First Time Home Buyer Mistakes

Being a first time home buyer can be scary! Here are some common mistakes and misconceptions to avoid.

1) Lack of credit- Make sure you have a credit score around 620 in order to qualify for a mortgage.

2)Lack of cash-You will need cash for a down payment, earnest money, inspections, appraisal, closing costs, prepaid interest, 3-6 months of reserved money to use for the first few months of house payments, and up front escrows.

3)Not knowing how much to spend- Talking with a loan officer will make the process more realistic. 

4)Can't get out of ease-Usually, you can negotiate with your landlord but you should expect to loose your security deposit. 


We are always here for first time home buyers!
-Mary & Kelly
Categories: Home BuyingGeneralHouston Living
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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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