I’m going to give you the most common mistake that I see four simple players make when they’re trying to shop for a home. The number one is they’re either going to open houses or going on Zillow or Redfin without talking to a lender. The reason why you want to talk to a lender first is because they want to find out if you need to work on your credit or your finances.
Now, let’s say everything checks out. There’s many loan programs. They’re going to vary depending on your credit. Your income in your down payment amount. Now, there is a difference. Whenever you are shopping for a home. Are you looking for a townhouse or a condominium? Because most likely they’re going to have an easy choice. Or are you trying to shop for a new construction or a single family home?\
You want to find out how much you can afford. Now, not only do you want to find the perfect family, but also you want to find out what’s a comfortable mortgage monthly payment, because you have to take into account that you’re not only going to be paying a mortgage, but you’re also have to add your property taxes and your home insurance.
