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How to Prepare as a First Time Home Buyer?

Buying a home for the first time can be a challenging and frightening experience, considering all the potential mistakes that can happen, leading to property loss. That’s why it is essential to prepare as a first-time home buyer with the help of a financial counselor.

Following are some tips that will help you as a first time home buyer

Consider Your Options

Some first-time home buyers jump into a particular property without considering if they are going to be able to afford it in the future.

Become Pre-Approved for a Home Mortgage

Most financial and real estate experts recommend that buyers take the time to become pre-approved for a home mortgage before they start shopping around. By doing this, you will be certain about the amount of money you can afford to spend for buying your new home. Furthermore, it will also let sellers know that you are serious and committed as a buyer.

Make Sure Your Credit Score is Good

Having a good credit score is extremely important. Not only does it allow you to get a lower interest rate, but it can also mean the difference between being approved and being turned down by the lender. If your credit score is low, you can postpone applying for a mortgage loan, and when ready do so.

Carefully Choose a Lender

When shopping around for a lender, do sufficient research. Although interest rates are essential when choosing a lender, you shouldn’t only rely on this factor. Most first-time homebuyers want the mortgage loan with the lowest interest rate; however, there are adjustable-rate mortgages available that you could be missing. That being said, payment options, type of mortgage, etc. are some other essential factors that you should consider.

Pacific Lending Group for your first time home buyers needs

At Pacific Lending Group, we offer our clients a great selection of mortgage products and lending solutions with flexible qualification guidelines. This makes getting your loan approval stress-free and incredibly simple. Apart from this, our expertise in helping self-employed borrowers help will allow them to understand the mortgage loan application, getting competitive mortgage loan rates and a variety of loan products that can fit all their lending needs. Call today at 954-227-4727

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Tips for First-Time Home Buyers

Our loan experts can guide first-time home buyers, better understand all their mortgage options to have a complete understanding of the process that entails purchasing a home. Your unique circumstances, budget, and needs will help us develop a plan to assist you better and purchase your desired home. Moreover, you will feel confident and in control of your journey as a new homeowner.

By going through the pre-qualification process, it makes it easy to determine if you are prepared to purchase a home. In many cases, waiting a little longer to be more financially stable, lower your credit card debt or improve credit score can lead to lower interest rates and a better deal. This way, with some necessary financial information, we can guide you of the mortgage options and determine what interest rates are more manageable in the near future. We have helped more than a thousand homeowners find the right mortgage solutions, and we’re here to help you purchase your first home, too.

Buying a home can be a very challenging process. Not to mention, it is one of the most significant purchases you make in your life. That’s why it is essential to have the right company to help you every step of the way. You can simplify the entire mortgage and home buying process by choosing the right lender. That’s where Pacific Lending Group comes in place, committed to making the mortgage process suit your lifestyle, and budget needs.

At Pacific Lending Group, we will work with you as well as your service providers (e.g., financial planner, accountant, real estate agent, etc.) during your mortgage and home buying process, while making sure that you obtain the mortgage loan that encompasses your specific circumstances and needs.

If you have other questions, please contact any of our assistants to help you with your mortgage and home buying process be a seamless and hassle-free experience. Call 954-227-4727

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9 Steps To Take When Buying A House

It can take almost a full year to get your finances in line before you buy a home, housing experts say. So if you know you want to buy a house within the next six months or so — such as people hoping to make the leap in the spring — you should start your financial housekeeping now. Read more