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What Every First Time Home Buyer Should Know

 What Every First Time Home Buyer Should Know


1. Find out how much home you can afford

Use a mortgage calculator to figure out how the loan amount you can qualify for buying a home. 


2. Get Pre-approved for a loan

Your lender can pre-approve you for a loan.  This gives you an idea of the price ranges to begin your home search. It also lets the seller know you're serious about buying.


3. Find out your credit score

You should go ahead and get a copy of your credit history and start reviewing it for issues.  Your lender will pull your credit, so you'll already be prepared to go over it with them. You can get Free credit reports from the 3 nationwide credit reporting companies.


4. Gather up your documentation

The mortgage company is going to need W-2s, Pay Stubs and Bank and Asset statements to determine your qualification for a loan.


5. What's a reasonable offer

A knowledgeable real estate agent, like Retta, will research the market and be able to help determine a reasonable offer with you.


6. Should you have the home inspected

Absolutely.  The only way to ensure the home is in good condition is to have it inspected by a qualified/licensed professional.  It's a few hundred dollars, but is money very well spent.


7. Will you need home owner's insurance

Yes, mortgage companies require home owner's insurance.  You will not be able to get a loan without it.


8. What are closing costs

Your mortgage lender will provide you with an estimate of your closing costs, so you will know that amount ahead of time.

Contact Me:

Retta Absher
Direct: (281) 216-4663
Fax: (713) 733-3311

Re/Max Top Realty
2911 S. Sam Houston Parkway E
Houston TX 77047
Office: (832) 200-5843

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