Financial Advice For First Time Home Buyers

Tips For Conquering Your First Real Estate Journey If you are taking the big leap and jumpstarting your first real estate journey, it is important that you are diligent in your planning and researching. Far too many first time home buyers do not accept financial advice from friends, family, and even professionals which can lead to a wide range of problems down the road. Keep these pieces of financial advice in mind when navigating your first real estate journey:

• As a financially responsible adult, you must check your credit score regularly. This allows you to correct any discrepancies as soon as they arise. This will ensure that you do not have any problems seeking approval for the home loan. However, do not make the mistake of over checking your credit as this can make a negative impact on your credit score.
• Be careful of making excessive monthly payments as this will make creditors assume that you are living beyond your means.
• Whenever you make a bank account deposit other than your regular income it does not look too good. When applying for a home loan, try to avoid depositing income other than your salary unless you can honestly explain exactly where it is coming from.
• If you do not have a substantial emergency fund you may not be ready for homeownership. Like with everything, accidents happen. If you do not have an emergency fund that can cover unexpected expenses, homeownership will be a difficult journey.

We hope these helpful points of advice allow you to take on your first real estate experience head on. Serving Redlands, Beaumont, Banning, Calimesa, and all of California, contact Little & Sons Insurance Group for all of your homeowners insurance needs. Allow us to insure your beautiful new dream home so that you can enjoy homeownership without a worry in the world.