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 Simple Advice for First Time Buyers 

Buying a home can be one of the most exciting, yet stressful times in your life. You may be looking forward to a new beginning in a different locale, or the multitude of decorating possibilities for your new space. At the same time, you may be concerned with the affordability of a new home. Perhaps you would like more information on how to establish financing, negotiate with a seller, locate a moving company, or learn about the local school system. All of these can be anxiety triggers but they need not be. First of all, relax. With a little effort and research, you will soon gain confidence in the buying process. Here are some tips and advice prior to purchase:

Don't make any major purchases. This includes a new car, electronic equipment, furniture, expensive jewelry, boats, or vacations. It is important to concentrate all your financial resources towards the purchase of your new home.

Don't move money around or apply for any new credit. When you apply for a home mortgage, lenders will run several background checks to determine your ability to repay the loan. They require all bank statements from the past three months as well as statements documenting all or your current assets. Moving funds around can make it more difficult for the lender and possibly delay the approval process. Keep your finances simple and don't make any sudden changes in banks or brokerage services.

Don't change jobs. If at all possible, try not to change employers during the loan approval process. Lenders like to see employment continuity and stability. Job variables such as commissions, bonuses, and job security can potentially play a role in your being approved by the lender.

Get a free credit check. It is important to know your credit score and to check to see if there are any errors on your report. If there are, contact the reporting companies with how to correct the errors.