{"id":1641,"date":"2018-06-07T19:57:05","date_gmt":"2018-06-07T19:57:05","guid":{"rendered":"https:\/\/merendarealestate.com\/?p=1641"},"modified":"2018-07-05T20:08:30","modified_gmt":"2018-07-05T20:08:30","slug":"easy-home-financing-tips-for-first-timers","status":"publish","type":"post","link":"https:\/\/merendarealestate.com\/?p=1641","title":{"rendered":"#ThreeThingsThursday: Home financing tips for first-timers"},"content":{"rendered":"<div style=\"width: 1920px;\" class=\"wp-video\"><video class=\"wp-video-shortcode\" id=\"video-1641-1\" width=\"1920\" height=\"1080\" preload=\"metadata\" controls=\"controls\"><source type=\"video\/mp4\" src=\"https:\/\/merendarealestate.com\/wp-content\/uploads\/2018\/06\/David-Merenda-financing-process-2.mp4?_=1\" \/><a href=\"https:\/\/merendarealestate.com\/wp-content\/uploads\/2018\/06\/David-Merenda-financing-process-2.mp4\">https:\/\/merendarealestate.com\/wp-content\/uploads\/2018\/06\/David-Merenda-financing-process-2.mp4<\/a><\/video><\/div>\n<p>In our last video, we outlined 5 easy steps for selling your home. Today, we&#8217;re going to gear our advice to those who are new to the buyer&#8217;s market.<\/p>\n<p>As a first-time homebuyer, applying for and getting your first mortgage can be an overwhelming experience.<!--more-->In this video, I&#8217;m going to give you four important steps to help take you smoothly through the financing process.<\/p>\n<h2>STEP 1:\u00a0MEET WITH A TRUSTED MORTGAGE AGENT or BROKER<\/h2>\n<p>He or she will have access to various lenders with many different products to suit your needs. The agent\/broker works for you and not the lender, and therefore has your best interest at heart.<\/p>\n<p>Get a referral from friends and family, or if you already know a real estate agent, they\u2019re usually able to set you up with a mortgage broker before you start looking.<\/p>\n<p>If you\u2019re starting your search from scratch, you can do a quick online search for a mortgage broker near you who will secure the best available rate.<\/p>\n<h2>STEP 2:\u00a0BE PREPARED<\/h2>\n<p>This is where you get your financial documentation in order. You need to be able to prove to your lender that you can afford a mortgage, so you&#8217;ll need to have your income and assets ready for review.<\/p>\n<p>In addition, your lender will want to ensure your income taxes are paid and up-to-date.<\/p>\n<p>If possible, obtain your own credit report through Equifax or TransUnion to ensure everything is in order with the credit reporting agencies. This isn&#8217;t the time for surprises.<\/p>\n<h2>STEP 3:\u00a0GET PRE-APPROVED<\/h2>\n<p>You can obtain a mortgage pre-approval at no cost to you.<\/p>\n<p>The lender will check your credit history and ask for evidence of your income. By taking this pre-emptive measure, you\u2019ll know exactly how much you\u2019re qualified to borrow and at what rate.<\/p>\n<p>A rate commitment will be provided and depending on the lender, the rate commitment can be as long as 120 days.<\/p>\n<p>With a pre-approval, sellers may also consider you a more serious buyer.<\/p>\n<p>And here&#8217;s a bonus tip:<\/p>\n<h2>STEP 4:\u00a0ASSEMBLE YOUR TEAM<\/h2>\n<p>An experienced and tenured Real Estate Professional will exhaust all options to find you the home of your dreams.<\/p>\n<p>A dedicated and reliable Real Estate Lawyer will look out for your best interests when it comes to the legal aspect of the transaction.<\/p>\n<p>An ethical and thorough Home Inspector will ensure that the home you&#8217;re buying is safe and in good condition and point out any issues that might need addressing.<\/p>\n<p>And there you have it! The mortgage financing process in four easy steps.<\/p>\n<hr \/>\n<p><em>Whether you\u2019re a first-time buyer looking to enter the market, or a seasoned investment pro looking to add to your portfolio, let the Merenda Real Estate team take you through the process and successfully address your real estate needs.\u00a0With our 20+ years of industry knowledge and a client-forward approach, we\u2019ll get you the results you want and the experience you deserve. <a href=\"https:\/\/merendarealestate.com\/contact-us\/\" target=\"_blank\" rel=\"noopener\">Contact us<\/a> today at .<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In our last video, we outlined 5 easy steps for selling your home. Today, we&#8217;re going to gear our advice to those who are new to the buyer&#8217;s market. As a first-time homebuyer, applying for and getting your first mortgage can be an overwhelming experience.<\/p>\n","protected":false},"author":2,"featured_media":1643,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[87,56,82,15,38],"class_list":["post-1641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-video","tag-3thingsthursday","tag-before-you-buy","tag-financing","tag-good-advice","tag-good-to-know"],"_links":{"self":[{"href":"https:\/\/merendarealestate.com\/index.php?rest_route=\/wp\/v2\/posts\/1641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/merendarealestate.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/merendarealestate.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/merendarealestate.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/merendarealestate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1641"}],"version-history":[{"count":0,"href":"https:\/\/merendarealestate.com\/index.php?rest_route=\/wp\/v2\/posts\/1641\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/merendarealestate.com\/index.php?rest_route=\/wp\/v2\/media\/1643"}],"wp:attachment":[{"href":"https:\/\/merendarealestate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/merendarealestate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/merendarealestate.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}