6 Costly Mistakes to Avoid Before Buying Your New Home
Wednesday, December 4, 2019
6 Costly Mistakes to Avoid Before Buying
Your New Home
Scottsdale - Mortgage regulations have changed significantly over the last few years, making your options wider than
Subtle changes in the way you approach mortgage shopping, and even small differences in the way you structure
your mortgage, can cost or save you literally thousands of dollars and years of expense.
Industry research has revealed that there are 6 common mistakes homebuyers make in mortgage shopping that
can have a significant impact on the outcome of this critical negotiation. If handled correctly, these mistakes first time
home buyers make could result in a mortgage that will cost you less over a shorter period of time.
Before you commit your hard earned dollars to monthly mortgage payments, consider these mistakes first home
buyers make which we will give you. Effective consideration of these important areas can make your payments work
much harder for you.
To start off, here are 3 of the 6 known mistakes homebuyers make that you should know about right now.
1. You can, and should, get preapproved for a mortgage before you go looking for a home.
Preapproval is easy, and can give you complete peace-of-mind when shopping for your home. Your
local lending institution can provide you with written preapproval for you at no cost and no obligation, and
it can all be done quite easily over-the-phone. More than just a verbal approval from your lending
institution, a written preapproval is as good as money in the bank. It entails a completed credit
application, and a certificate which guarantees you a mortgage to the specified level when you find the
home you’re looking for.
2. You should be thinking about your long term goals, and expected situation, to determine the type of
mortgage that will best suit your needs.
There are a number of questions you should be asking yourself before you commit to a certain type of
mortgage. How long do you think you will own this home? What direction are interest rates going in, and
how quickly? Is your income expected to change (up or down) in the near term, impacting how much
money you can afford to pay to your mortgage? The answers to these and other questions will help you
determine the most appropriate mortgage you should be seeking.
3. You should seriously consider dealing with a Mortgage Expert.
Consider dealing only with a professional who specializes in mortgages. Enlisting their services can
make a significant difference in the cost and effectiveness of the mortgage you obtain. For example they
can make the process faster thereby avoiding costly delays. Typically there is no cost or obligation to
So, there you go. These are just 3 out of the 6 to draw attention to this very important topic. If you wanted to view all
of the 6 mistakes first home buyers make, I have put together a free report entitled “6 Things You Must Know Before
You Buy" which explains all of the mistakes homebuyers make in more detail.
You can grab a copy of this report for free by visiting http://www.toddgulinsonrealtor.com/ or you can give me a call
Thanks a lot for reading this week’s blog and may you find a way to your new home!
Your Home Sold Guaranteed or I’ll Buy It* - If you or anyone who know is considering on making a move, feel free to
give me a call or pass on my number! 1-844-310-9514.