RE/MAX 440
Faye Riccitelli
friccitelli@remax440.com
Faye Riccitelli
423 North Main Street
Doylestown  PA 18901
PH: 267-221-6840
O: 215-348-7100
TF: 800-360-7100
F: 267-354-6949 
Welcome Home from RE/MAX 440!
< Back to My Blog

The First Steps for Your First Home

August 1, 2017 1:24 am

If you’re diving into homeownership for the first time, don’t panic. This is an exciting (albeit stressful) time, and there’s a lot to consider. To help, SunTrust offers the following tips when considering a first-time home purchase:

Understand Your Initial Expenses. The down payment and closing costs can really add up, but don't forget to budget for moving expenses. These include everything from truck rental to setting up water, power, cable, internet and more.

Organize Your Finances. While there are different types of loans for different needs, your finances will be thoroughly evaluated during the credit application. Make sure they are organized so you can better retrieve them throughout the application process.

Get Pre-Qualified. Lenders can use your income and credit history to give you an estimate of the home loan amount for which you qualify. The pre-qualification amount can be a helpful guideline when you are considering which properties to purchase.

Create a Realistic Timeline. Even with a pre-qualification, loans can take weeks to be finalized. Work with a loan officer to decide the best type of loan for your situation and make sure your loan will be ready in advance of your closing.

Source: SunTrust

Published with permission from RISMedia.