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A Beginner’s Guide For First Time Home Buyers

Author: The Mortgage Girl | | Categories: Mortgage Broker , Mortgage Industry , Mortgage Renewal


Every year thousands of people across the country engage in the process of buying a house. Many of these individuals include first time buyers who’ve recently gotten married and are looking to put down roots. Buying your first home can be an exciting yet daunting experience as everything about the process is new and unknown. Besides looking for a house, you need to search for a mortgage and several other essentials to properly execute the home buying process.

To help you prepare to buy your first home, The Mortgage Girl, Jackie Woodward has put together some helpful information in a Beginner’s Guide for first-time home buyers. In this guide, you’ll find the different steps for you to take to acquire a mortgage and then the house of your dreams.

Getting Started

Find an experienced mortgage broker: Speak with a seasoned mortgage broker like Jackie Woodward at The Mortgage Girl brokerage. We will provide you with a list of information and explain how the mortgage process works. The first step of the process is to get a pre-approval. Next, you need to find an experienced Realtor, choose a house, and make an offer. Finally, you must satisfy the mortgage approval conditions and then sign the required documents with a lawyer. Only after doing this will you get the keys to move into your new home.

Next Steps

Get a pre-approval: Make sure you get a mortgage pre-approval to identify houses within your price range. If you go house hunting without an understanding of what you can afford, you may choose a house beyond your financial capacity.

Gather essential documents: When applying for a mortgage, make sure to collect all of the required documents promptly. This includes pay stubs, bank statements, property purchase documents, etc. With this paperwork, you and your mortgage broker can negotiate with your lender for suitable lending terms and a lower interest rate.

Get yourself ready to move in: Once your mortgage application is sent in and approved by your lender, it’s time to prepare yourself to move into your new house. For this, you’ll need to choose a date for the move, hire movers, begin packing, etc.

Advice From The Pros

Try to remain calm: There are many people involved in the home buying process, which can make you feel apprehensive. But, if you have a professional to help you through the process, they can ensure that your mortgage journey moves along smoothly and your paperwork is completed quickly.

Avoid acquiring more credit: Do not apply for any new credit during the mortgage application process, as you may not qualify for the desired funding. A case in point is a client who purchased a new vehicle and ultimately had their mortgage application turned down. Try to listen to your mortgage broker when acquiring a mortgage. They will guide you thoroughly and advise you on what you should and shouldn’t do.

Prepare your paperwork quickly: When you decide to apply for a mortgage to buy a house, you need to get started on your paperwork. Get all of the documents you need to show as proof and make sure that you’ve completed your mortgage application thoroughly.

Communicate and ask questions: Stay in communication with your mortgage expert if you have doubts about the mortgage process. Similarly, ask as many questions as you can so that you are aware of what’s happening. Do not feel like you are intrusive if you have a question. Be blunt and ask. It’s the easiest way to clear your doubts and obtain peace of mind.

At The Mortgage Girl, Jackie Woodward aims to exceed your expectations by putting your needs first and answering all of your mortgage questions. As a leading mortgage broker in Edmonton, AB, she makes sure to offer competitive rates, reliable services, and quick, professional advice. With over thirty-five years of professional experience, she is able to find you the perfect mortgage to suit your specific needs. Additionally, she is a licensed professional with several lender connections, which allows her to provide some of the best mortgages to her different clients.

Visit her website here to learn more or contact The Mortgage Girl today