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Questions to Consider Before Buying Your First Home

What's your credit score?

Knowing your credit score is a critical step towards considering if you'll be able to purchase a home or what your loan terms will be. If your credit score is lower than 700, take the time to improve it as much as possible before starting the home buying process.

Remember: The better your credit score, the easier it will be for you to get approved for a loan.

Have you gotten pre-approved?

In order to start seeking out your future home, you should have a clear picture of your budget. Speaking to a lender to get pre-approved will help give you an accurate picture of what exact budget you should stick to when looking for homes by considering factors such as your credit scores, debt, monthly income, and more. 

If you will need a loan, getting pre-approved is often a critical step. Many sellers won't consider offers if they aren't paired with a mortgage pre-approval. If you're in need of a mortgage lender who will help advise you on the mortgage types available & which might suit your needs, look no further! Click here to read on our current mortgage offers.

Remember: You don't want a salesman, you want someone who is experienced and trustworthy. Many people assume that the bank or credit union where they have their checking account is the best place to obtain a mortgage, but this isn't always the case. Having had a checking account at your local bank unfortunately will not help you get a better rate or quality of service. 

Is this home a good investment?

Buying a home is likely one of the biggest investments you'll make, right? This means it's crucial that you look out for potential "money pits" that may end up costing you. While you can't guarantee catching every pitfall that may end up costing you later, there are certainly precautionary steps to take before purchasing the home.

When looking at homes, here a few things that yourself, your realtor & home inspector should keep in mind:

  • Roof Condition

  • Foundational faults

  • Insulation & energy 

  • Insect Infestation

  • Mold infestations

  • Flooding damage

I need to find a realtor, mortgage lender, or buyer's agent- Where do I start?

At Homes & Loans of West MI, we stand out from others by offering full service real estate & mortgage lending services! 

We recognize that buying your first house is intimidating, and understanding how each aspect of the process can add to the stress. We pride ourselves on offering superior service from start to finish.

As both a realtor & mortgage broker, we help you find the right home & mortgage plan while saving you money AND time. By being a local lender, we have the benefit of local market and economy knowledge. This differentiates us from the big-box companies by guaranteeing efficiency, local closings, & specific insight of your area.

Want to learn more? Please reach out! We LOVE first-time homebuyers, and would be thrilled to work with you.

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