Navigating the Purchase of Your First Home

Chesapeake, VA

ATTENTION ALL FIRST TIME HOMEBUYERS!!

You keep hearing that it is still a good time to buy a home with interest rates sitting between 4.5-5%. The scary thing is how do you navigate the lender gauntlet? How do you hire an agent?

First, let me suggest that you find a lender within your generation. Let’s face it…we like to do business with people we like and trust and we like and trust our own generation! Before you give them a call, go to a credit score site on the internet and pay that $15 for your trimerged credit report. Most people don’t like surprises unless it is their birthday. If that score is 620 or higher, you can get a decent interest rate…life is good! If that score is lower, you need to find yourself a good credible credit repairer…someone who is legitimate and is recommended by someone you trust. Don’t give up your dream because you have to wait a few months to get that credit score up to 620. Good credit is essential in this country!

While you are waiting or if you ARE ready to buy a home, go online to some real estate sites that have current homes on the market. Also, there are sites out there that will allow you to see home values and street views of the homes. These are wonderful. You need to educate yourself on what the prices are and what you get for that price.

Now you are ready to contact a realtor…not an agent….but a realtor. The difference between the two can be the difference between you having a ‘lovely’ buying experience and a ‘not so lovely’ experience. You want to hire an experienced agent who has good listening skills and a good past track record. Google them and find out all you can before you hire them. You may not be paying their commission, but you have to like/respect them.

Remember: The internet is your friend when you are shopping/exploring neighborhoods and prices. It is NOT your friend to find a lender….that you must find locally. The internet can help anyone ‘research’ their possible choices…whether home, lender or realtor!

Donna Bosze | Realtor

Coldwell Banker Professional Realtors

SRES,CNAS,CNRS, Relocation Specialist
Direct:  757-410-0306
FAX:  757-470-5139
www.HomesbyDonnaB.com