Purchasing a home is a big step to take, and picking the right house and mortgage ensure you’ll gain years of enjoyment from your choice. I have a number of trusted mortgage lenders  to refer should you need a recommendation for your financing.

Some of the ways an experienced lender can guide you are to show you how tax-deductible mortgage payments will alter your finances, or help you decide whether it makes more sense financially for you to buy now. Saving for a larger down payment does not keep pace with the rising prices of houses.

It’s also important to compare your anticipated budget before and after making a purchase. Adding in funds for utility payments and ongoing home maintenance and repairs will give you a realistic picture of how much it costs to own a home.

Knowing what you can afford allows you to look for a home confidently. Obtaining loan Pre-Approval assures sellers that you can purchase their house without any problems. Here are more tips on saving money when buying a house –

1.    Be aware of your plans, since buying a home is a substantial commitment. Try to foresee future changes in your lifestyle and finances. Both the property you purchase and your financing should reflect how your needs will change, and how long you plan to stay in the home. The average first-time home buyer will live there for 5-7 years.

2.    Be certain you know the market. Take time to look at homes to understand pricing.

3.    Get to know the community. Traffic patterns, schools, shopping and transportation conveniences are potential considerations that require you to do some research before buying.

4.    Make sure you know the house. Have a competent inspector go over the house, and carefully review that report.

5.    Work with professionals you can trust. Saving a few dollars isn’t a priority when you’re finalizing a large purchase involving lots of details.

6.    Phyllis Rose and your lender are truly committed to helping you. You can count on us to determine your wishes, and then fully answer all your questions about home buying.

Mortgage Tools

To assist you in determining affordability during your home search, I welcome you to use my Mortgage Calculators when you return to my website. The best way to insure you’ve explored all of your financing options is always to work directly with a mortgage professional, however these calculators are designed to give you an approximate idea of what a specific home would cost.

Calculators

• Useful Mortgage Calculators

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