First Time Buyer Home Loan Tips

Buying your first home can be confusing. Securing a mortgage is one of the most important parts of the home buying process. Making sure that you have the right loan and have chosen the right loan officer are among the things a first time buyer has to do to start the process. Here are some more tips on how to ensure a successful purchase:

1. Make sure your deposit is in order. Talk to your loan officer about what amount of a deposit is required for the purchase and type of loan. You will also want to make sure the funds are accounted for and readily available. You can expect deposits to run anywhere between 3 and 20 percent of the purchase price.

2. Plan to have a cash reserve in addition to your deposit. You may want to have a reserve of at least two months mortgage payments.

3. Ask your lender to go over all the fees that apply to the purchase. It is better to be prepared and know how much the actual purchase will cost. These costs are typically added into your loan but there may be some out of pocket expenses too.

4. Consider how much you can comfortably afford not how much you have been approved for. These numbers may vary considerably. Your mortgage costs should not be more than 30% of your household income.

5. The lowest rate is not always the best deal. You will want to look at not only the rate but also the terms and fees associated with the loan.

 

 

 

Create a Happy Home environment in You New House

Most new home buyers look forward to all the happy memories that will occur under the roof of their new home. Did you know there are ways you can set up your new home to help promote a more happy day to day environment for your family? Keep reading for tips and routines you can put in place to get more smiles and quality time with those you love most.

Make the bed. Each morning have your family members make their beds. It seems like such a small task but it can actually help to improve happiness and productivity levels. By making your bed first thing in the morning you are already starting off the day with an accomplishment under your belt. This can help you feel more motivated to complete other tasks throughout the day. It also helps build feelings of productivity which can lead to tackling more tasks successfully, Plus, let’s be honest a clean and tidy room just makes you feel good!

Everything in order. Speaking of clean and tidy, clear clutter every day. Clutter is chaos and can actually cause stress and decrease happiness. Take a few minutes before leaving a room to put it back to how it was, a.k.a how it would be arranged if you were to have some guests over. After all, why just keep a clean and tidy home when you only have guests over? You spend the most time in your home and deserve to have it at its best.

Display your memories. Hang lots of family pictures and put sentimental items out on display. If you have children display the artwork they are proud of for all to see. Keeping all these happy memories out on display will remind you of the good times you have spent with your family and lead to good feelings.

Invest in joy. When you go shopping invest in pieces that will help to promote moments of happiness for your family. Whether it’s movies and large tv screen to enjoy them on or lots of indoor and outdoor games for family game nights. You know your family best so think of what you have the most fun doing together and items that can assist in making those moments happen more.

Buying a new home is an exciting time and one filled with anticipation for the memories to be made within its walls. Set your home up to make those happy times even easier to make by eliminating chaos and investing in activities you family loves to do together. And don’t forget to take pictures of your new memories along the way!