​Tips for Buying Your First Home in Slidell LA – Part I

Take advantage of historically low-interest rates. We consumers know these rates will not last forever. First Time Home Buyers sometimes are anxious, terrified and just do not know how to start. So, let’s begin with 5 important steps.

1. Know your budget and your comfort level with your monthly payment. You don’t want to overspend.

2. Improve your credit score and reduce your debt-to-income to qualify for a lower interest rate on your loan.

3. Establish a systematic savings plan and reduce as many expenses as possible.

4. Find ways to save for a down payment. (With 20% down, you greatly save on mortgage insurance aka PMI.) Although there are other loans available, like RD (100%); FHA (3.5%), VA (100%) and conventional (5%, 10%, 20%).

5. Understand the other costs of homeownership, including property taxes, homeowner’s insurance, flood insurance, utilities, HOA’s or condo fees, plus maintenance of your new home.

As a real estate broker, I love working with First Time Homebuyers. It’s about teaching while learning myself. Many FTH like to look at potential homes with their parents for advice and support. My job as a Realtor is to allay fears and anxiety for my clients and to help them achieve their goals one step at a time. Here at HTR, our slogan is Black Tie Service, Blue Jean Friendly. And, we do our utmost to assist each and every client with that endeavor.

Do you have a question for me? Ask away…Part II – next blog…

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