Are you a first time home buyer interested in buying a house ? What should you do to put yourself in the best position for our current housing market 2020 if you are a first time buyer? In this video, I discuss my top first time home buyer tips for the home buying process and what to expect as a buyer in our current housing market.
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Top Tips for First Time Home Buyers 👇🏻
✅ Get a full pre-approval from a qualified mortgage professional
✅ Work with a Full Time Professional Real Estate Agent
✅ Be Patient and don’t settle
FHA loan requirements – FHA loan 2020 👇🏻
✅FICO® score at least 580 = 3.5% down payment.
✅FICO® score between 500 and 579 = 10% down payment.
✅MIP (Mortgage Insurance Premium ) is required.
✅Debt-to-Income Ratio less than 43%. (Actually you can go much higher than this)
✅The home must be the borrower’s primary residence.
✅Borrower must have steady income and proof of employment.
Are you a first time home buyer and having questions about how to buy a house or buying a house for the first time? If so and you want to chat in more detail, please reach out as I’m happy to chat and help guide you through the home buying process and provide you with home buying tips.
Connect with me 👇🏻 :
Jeb Smith (Huntington Beach Realtor/orange county real estate)
Coldwell Banker Realty
I N S T A G R A M ➳ https://www.instagram.com/jebsmith