A house buying guide for first timers

Loans

It is everyone’s dreams to buy a house. We collect enough money and look for financing and are excited to start searching for that ideal property. However, it is not as clear-cut as it may appear. In this article, we will endeavor to guide you step by step on the purchase of your first home.

Step one after you decided to buy a home

Make a list of what you want in your new home. The location, the amenities, proximity to work, schools, hospitals and other relatives must all be taken into account. Also write down how many bedrooms, bathrooms you want and if you want to have a large garden, etc.

Step two – financesbundle of money and house miniature

This is an important aspect of the purchase of any property. You may be excited to look for your new home, but it is far better to get yourself pre-approved by a bank or other lender. Find a home mortgage broker who can get you the best deal from lenders based on your current financial status so that you will not be trapped in a high interest loan with no flexibility. Once you have received the document, you will know what limits you have and look for houses within that range. Doing this step before looking will also help you not feel disappointed when it comes to signing the sale agreement.

Step Three – inspection

Whether you plan on buying a new or pre-owned house, it is best to have it inspected. Get a professional home inspector to visit the property and look at every aspect of the house. The water and electrical systems and structure will all be inspected to ensure they conform to standards and are in proper condition. This will save you from having headaches with repairs when you by the house.

Step four – Moving

hand over a house key Before you move into your new house, ensure you have it thoroughly cleaned and that everything is working correctly. This will ensure that you can live comfortably and not have to worry about any repairs or too much cleaning after you move in.

Buying a house is probably the biggest investment you will make in your lifetime. Make sure you take it slow and cover all the bases so that you can enjoy the benefits of owning your own home. The above tips are just the basics, and we hope they will guide you to purchasing your new home.…

4 Main Reasons You Should Seek The Help Of A Mortgage Broker

Loans

Why is it necessary to seek the help of a mortgage broker? Such professionals are very beneficial when it comes to home loan. They act independently of banks, and their main role is to liaise between a mortgage seeker and the potential lenders in order to obtain a home loan or mortgage finance on your behalf. This person will help you with the paperwork, seek and compare home loans on your behalf plus will ensure you get the best mortgage deal.

Mortgage brokers are deliberately becoming a common aspect of house selling and buying process. A good broker will start by collecting all the details and information of your financial state plus copies of the needed documents for your application. After that, they will determine who is able to give you a mortgage, and you can then do your comparison using the suggestions that the mortgage broker has for you and then make a final decision.

Here are the reasons you should seek the help of a mortgage broker

He/she is qualified

man sitting in front of house A good mortgage broker is qualified enough to guide and help you liaise with the creditor on your behalf. From the completion and proposal of your mortgage application to the on-going communication amongst the parties, a qualified mortgage broker will ensure that your loan process is settled and approved.

Protection

A mortgage broker is held responsible for your care and protection when receiving a mortgage advice or guidance. They help to justify why a particular home loan/mortgage that they have chosen is suitable for you, and you can be compensated if their advice isn’t up to scratch.

They are familiar with the industry

One of the main reasons you should seek the help of a mortgage broker is that they also deal with lenders on a daily basis so they are able to know the lender’s background criteria and will tell you which lender is able to process your mortgage application with negligible delays. Since a mortgage broker can put several dealings to a particular lender, they are also able to chase things and exert influence in a way you cannot do.

Can potentially help you save some money

piggy bank A mortgage broker can negotiate bank charges, mortgage interest rates, and structuring your loans on your behalf. In case you are not familiar with the interest rates, borrowing or home loans a professional mortgage broker will help you manage your money and obtain the mortgage that perfectly suits your need.

A mortgage broker is not obliged to tell you about their experience, qualifications or background it’s all up to you to enquire. Preferably you should look for someone with finance or banking background with at least 2-3 years of experience. Please note that a legit mortgage broker won’t charge any fee for the services.

You can check Mortgage Hero and get the best assistance to your financial needs.…