When you are getting ready to buy your first home, it is completely normal to feel a little overwhelmed by the amount of information that you’re expected to know. Luckily, we have a few tips of things to avoid when you are buying a house that will not only save you money, but a lot of grief. If you are looking for a mortgage lender in Los Angeles, contact CalSun Mortgage.
Avoid Taking On New Debt
When you are trying to buy a home, one of the last things you want to do is to add more debt to your plate. Don’t get a new credit card or a new car when you are trying to buy a new home if you want a shot at better rates. New debt lowers your credit score and can skew your debt to income ratio in a way that makes you look like more of a risk.
Avoid Not Comparing Rates
It is always a good idea to check rates from multiple sources when you are searching for a lender. This is why the credit bureaus provide you with a grace period after the first credit check. Shopping around can save you money every month and help you start building equity faster.
Avoid Spending Too Much
A lot of people dream of having a big home with lots of property, but if you can’t afford to pay your mortgage and do other things, it isn’t a good idea. Spending too much can put stress on your life, including your relationships, that could have negative consequences. Find a home that has most of what you need while still giving you the freedom to travel, raise children, or anything else that is important to you.
Avoid Skipping The Inspection
When you find a home, don’t skip having an inspection completed. The inspection is one of the most critical steps in buying a home because it lets you know the condition of the home so that you are prepared for the costs of owning it. While sellers are looking for a fast closing, it shouldn’t be at the expense of you knowing what kind of shape your home-to-be is in.
Contact CalSun Mortgage today if you are looking to buy a home in Los Angeles. Our team will work with you to help find you a great rate on a mortgage.