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Congratulations on your decision to buy a new home! There are many important items to consider throughout the process, especially being a first-time homebuyer.
Your first step should be to contact a Loan Officer in order to be pre-qualified for a mortgage and obtain a pre-approval letter. This pre-approval letter will be essential as you begin to search for a new home.
Here are some of the steps your Loan Officer will guide you through:
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Attending a First Time Homebuyer Class or Seminar. These local seminars are a great source of information about the entire home buying processReviewing your credit history.
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Reviewing your monthly debt obligations.
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Reviewing your housing cost “comfort level” within the context of your household budget.
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Documenting a two year history of stable employment or employment plus full time student status.
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Identifying eligible assets available for your down payment and closing costs.
Click here to find a Boston Private Bank Loan Officer near you!
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