I’m joined today by Jennifer Micklos of Movement Mortgage, who has been a loan officer for 15 years and has seen a lot in the industry. For the past three years, she’s been in the top 1% of loan officers across the nation. Together, we’ll be sharing with you the three biggest mistakes buyers make when they purchase a home:
- Not starting the process early enough. Buyers often begin their search when their lease is up or right before they’re ready to move. However, they sometimes find they need to save up for down payments and closing costs or work on their credit, and this delays the home buying process. If you think you want to buy in the future, now’s the time to enact a plan.
- Not budgeting properly. It’s important to sit down and realistically decide how much you can spend monthly and how much can go toward your down payment and closing costs. Clients will often qualify for more than they can afford, but this can be much more than they’re actually comfortable paying.
- Shopping before pre-approval. If you don’t know what you qualify for, you don’t know what you can get. It’s important to speak with a lender who can help you find out what program fits your needs, how much you need for your down payment and closing costs, and what you can expect for monthly payments. After providing some documentation to the loan officer and underwriter, you’ll receive a pre-approval letter. This will help your offer stand out among competitors and help you close quickly.
I’d like to thank Jennifer for joining us today.
If you have any other real estate-related questions for me or need further information, feel free to reach out. I look forward to hearing from you soon.