Before you start shopping for your property, it is a good idea to make some preparations.
- Determine your budget and how much you can afford.
Remember you will need upfront money for:
- Due Diligence Money & possible Earnest Money
- Inspections
- Appraisal
- Closing Cost
- A down payment with your loan requirement
- Get pre-approved / pre-qualified for a mortgage. Using a local lender as a first-time homebuyer is helpful.
- Gather all the documents the lender needs and keep them in a file on your desktop (ie. pay stubs, W-2s, tax returns, bank statements, and debt information).
