Jason Pence Realtor Fort Wayne

Home Financing

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4 Tips For First Time Home Buyers

Tips For First Time Home Buyers

Tips For First Time Home Buyers: Deciding to own your first home is an exciting step towards complete independence, but it can also be a difficult time for the uninitiated; first time home buyers looking to buy a home without much knowledge of the mortgage lending or real estate market risk giving up all their leverage in the transaction.

Here are 4 Tips For First Time Home Buyers to guide you through the correct moves you need to make in the pursuit of buying your first home:

Know How to Find an Expert Real Estate Agent

Your Realtor is more important than you might think. Many people assume that Realtors are only important in selling a home, and that with all the technology at your fingertips in the modern age, you can find your dream home on your own.

The truth is that most people find their future home through Realtor referrals. Your Realtor will assess your budget and search their network for a home that fits your needs, as well as walk you through the faciliation of your first home purchase.

Reputable and reliable agents in your area will have references, and you’ll likely have already heard their name from being recommended by friends and colleagues. We specialize in helping first time home buyers navigate the housing market, understand their mortgage circumstances and see themselves in their dream home.

First Time Home Buyers

Understand Your Mortgage Rates and Other Costs

While it’s important for first time home buyers to get approved for loans that work for them, the costs of owning property is so much more than just a mortgage. Taxes and homeowners’ insurance also factor into the cost of owning your home, but are not often considered by people entering the market for the first time.

An expert Realtor can help you navigate the market, add up the costs of living in your new home and help you get the loan you need.

Get Your Mortgage Squared Away First

Many first time home buyers are so eager to finally own a home that they do things out of order, and end up frustrated by the buying process.

We recommend talking with lenders to find out what your options are in the way of mortgage principals, terms and interest rates and then using this information to build your budget, rather than guessing your budget, shopping for a new home, and then being told by the bank that you won’t be able to get a sufficient loan for the dream home you’ve already set your mind on.

One Loan at a Time

Independence can happen fast, but also be a scary situation for a first time homeowner. You might be tempted, after you’re mortgage is approved, to celebrate your new life by purchasing a new car or taking out another loan for a variety of other reasons.

Be careful. It will take time for your budget to adjust to mortgage payments in a way that builds understanding of how home loans work and how to avoid establishing bad standing with lenders and mortgage brokers due to late payments and other repayment troubles.

In the wake of a new home loan for first time home buyers, make sure to be conservative with both your budget and your savings, and you’ll find yourself comfortable and happy in your new home in no time!

Tips For First Time Home Buyers

$217,726: That is Specifically what You will Save if you purchase a House at this Point

$217,726: That is Specifically what You will Save (Give or Take) If you purchase a house At this point

You will Save if you purchase a House at this Point

Buying a home is expensive. A ton of money. There’s the actual down payment plus the monthly house payment as well as the up keep in addition to taxes together with the insurance plan and: Are you presently deluged yet?

It may well look to be a great deal that you just wish to postpone the home hunt & sign that yearlong contract with your property manager (regardless that he increased your lease twenty-five and will possibly do the same thing year after year).

But this will undoubtedly shock you: Even with all of those expenditures, you still are in position to save upwards of $200,000 across the next thirty years should you buy right now. You will Save if you purchase a House at this Point!

“Nonetheless that’s over the course of thirty years!” you point out. “I am thinking about my money right now!” you say.

Well, get this: Delay only one year, and also you chuck nearly $19,000 in cash saved down the drain. The penalties are high due to the fact that mortgage rates are predicted to increase and due to house values are increasing fast, according to realtor.com economist, Jonathan Smoke.

You will Save if you purchase a House at this Point

source: Realtor.com

Farm House and Land For Sale-Land Contract Available

Farm House and Land For Sale-Land Contract Available: Buy land and a spacious farm house on contract near Harlan Indiana east of Fort Wayne!
23623 St Rd 37
Harlan, IN 46743
$139,900price
3bedrooms
2full baths
2square feet
6.14acres
201318009listing id
6.14 ACRES!! SPRING IS JUST AROUND THE CORNER!! Check out this Amazing Remodeled Farm House! One View & You’ll say SOLD!! Imagine a MOTHER-IN-LAW SUITE! 2 FULL BATHS! OPEN KITCHEN FULLY UPDATED W/HUGE BREAKFAST BAR TOO! OPEN SOFFITS FOR YOUR PLANTS & DECOR! VINYL WINDOWS, NEWER DOORS, GFA, CATHEDRAL GREATROOM (Or MOTHER IN LAW SUITE) W FULL BATH/SHOWER ON MAIN LEVEL. WALK IN CLOSET IN GREATROOM AS WELL. SEPARATE FRONT & REAR ENTRANCES IF YOU WANT TO USE IT AS SUCH. OR YOU MAY INCORPORATE IT FOR YOUR OWN FAMILY!! READY TO MOVE RIGHT IN, NO WORK NEEDED, ALL REDONE FOR YOU!! Just in time for Spring!! 3 LG BDRS UP W/WALK-IN CLOSETS!! COVERED FRONT PORCH, FULLY SCREEN REAR/BACK PATIO, OVERLOOKING NATURE & FIELDS. 2 CAR DETTACHED GARAGE & SEPERATE SHED CAN BE USED AS OFFICE WITH ELECTRICITY!! Don’t Drive by! This is a Must SEE!!
– See more about this Farm house and land available on contract

Farm House and Land For Sale-Land Contract Available

Are there still $0 down mortgages?

mortgages that  are $0 down | home loans with zero down payment

Yes Zero down mortgages are still available. If a real estate agent, a friend or someone else is telling you as a home buyer that you need a large down payment: don’t believe it. Certain communities in the Fort Wayne area have $0 mortgages to qualified home purchasers. Zero down mortgages are still available. Fort Wayne Homes for sale

$0 down and low down payment mortgages are still available for qualifying home buyers! Call The Pence Team at (260) 416-5195 for more information.

Please call real estate agents Jason and Heidi Pence of Coldwell Banker in Fort Wayne Indiana for help with your next home listing or buying needs!