Buying a home can be exciting, but also daunting; homeownership is a weighty responsibility, after all, and the real estate process itself can be challenging. There are ways to make the process as smooth as possible, however. The Seattle Times recently published an article that lists some basic secrets and strategies for soon-to-be homeowners. Meanwhile, in a new statement to the press, mortgage broker Paul Hirschauer shares some of his own home buying hints.
“One thing I would recommend is to make sure your credit score is robust,” says Hirschauer, echoing the advice from the Times. “While you certainly can buy a home with subpar credit, a stronger credit score will help you get better rates on your mortgage. Taking a few months to tidy up unpaid bills and credit card debts can make a big difference in your final mortgage numbers.”
Budgeting is another big step. “A second tip is to get a sense of how much home you can afford,” says Hirschauer. “Think in terms of the overall price of the home, but also such costs as maintenance, insurance, and utilities.”
Third, Hirschauer recommends that homeowners set some money aside for their down payment—and for closing costs. “There are loan products that will allow you to sidestep the down payment requirement, but making that payment is always advisable,” he comments. “Meanwhile, the costs of closing a real estate transaction will likely total somewhere between $2,000 and $4,000, give or take.”
Paul Hirschauer suggests that those looking to buy a home connect with a real estate professional to talk through the process. “Before you even start browsing, talk to an agent and let him or her know what you’re looking for, what your price range is, and so on,” he says.
A final piece of advice from Hirschauer: Get pre-approved for a mortgage. “If you want to be able to close on the home as quickly as possible, it’s always a good idea to get pre-approved,” he says.
“The pre-approval process couldn’t be easier, and in fact, those who are interested can get pre-approved right now simply by visiting my mobile website.”
More information about Paul Hirschauer and his services—including the online application for mortgage pre-approval—can be found at https://www.guaranteedrate.com/loan-expert/PaulHirschauer.
Paul Hirschauer is a Senior Vice President of Mortgage Lending with Guaranteed Rate; based in Connecticut, Hirschauer is passionate about making his clients’ dreams of homeownership come true. He is one of the top 1 percent of loan originators in the country. More information about Hirschauer and his services is available online at https://www.guaranteedrate.com/loan-expert/PaulHirschauer.