First Time Home Buyer Florida

One of the most important and relevant moves in your life is the purchase of your first home. First time home buyers are overwhelmed with an ocean of information online with everyone wanting their business. The truth is that the process is not complicated and doesn't have to be a stressful experience.

First and foremost, you want to know if and how much house you can afford. Your debt obligations, credit score, income, down payment, and employment status and history will be a determining factor in your home purchase. A good mortgage broker can make this loan process much easier for you since he or she will take care of all the work involved in obtaining your loan. once you have obtained a pre-approval for a loan from a lender, finding your home is the next step. Retaining a real estate professional is a good idea as they will have access to many resources that can speed up the process of finding a home and viewing the home. You will want to let your real estate agent know that you have been pre-approved and that you have a pre-approval letter from a lender. You will need this letter because when it comes time to make an offer on a house, your offer will likely need to be accompanied with this letter.

Once your real estate agent has negotiated a contract where both parties agree, an executed contract is secured and the processing of your home loan becomes front and center. It is important to provide your mortgage broker with all the documentation they need. It is not uncommon for additional documents to be requested throughout the processing phase. Providing these as quickly as possible helps tremendously. When the home loan processing is complete, you will have a clear to close. A closing agent will likely have already been involved through out the process. The closing agent will coordinate and prepare everyone involved to close on the transaction. The closing agent will have the keys to your new home and will give them to you once both parties have completed their closing documents.