More Loan Tips for First Time Home Buyers

Loan Tips | North Raleigh Real Estate Agents

Thinking of buying a home soon? If so, there are several things you must consider before jumping in and making a purchase. In addition to searching for the perfect home, first time home buyers are faced with finding the right loan, saving money for closing costs and more. Below, you'll find several tips that will help you with securing a loan for your purchase! If you have questions during this article, contact our North Raleigh real estate agents!

Save Money

According to businessinsider.com, "When you activate a loan, you must not be living from paycheck to paycheck. Make sure you have some cushion money in your account to fall back upon. You should have at last three months of payment equivalent money in your account even after making the down payment."

Consolidation Loan

This may be an option you're interested in. These loans can be beneficial for those with multiple loans. You're able to consolidate an auto loan and home loan so that you're only paying one payment versus two. Often, you can reduce the dollar amount per month, as well as the interest rate. Contact your local financial institute of choice to find out more about this type of loan.

Contingency Funds

According to businessinsider.com, "Unforeseen events and exigencies can happen to anybody. One needs to be very careful and always have a Plan B. Make sure there is a contingency fund such as an FD that can be en-cashed on emergency or a PPF fund that can be relied upon in case an unfortunate incident like a pink slip happens. These emergency funds can come in the form of life insurance deposits, FDs, or mutual funds that you have invested in."

For more information concerning home loans for first time home buyers, visit back with our previous blog, here!

If you’re considering buying a home, contact our North Raleigh real estate agents at Roark Premier Team, today! It's time to get started with the process of searching for your dream home. We will work with you, until you find your next home. So what are you waiting for? Call now! At Roark Premier Team we have real estate agents standing by to help you get your home sold during one of the busiest times of the year for real estate!

Roark Premier Team

Also, if you’re considering selling your home, it's time to act now! Contact Roark Premier Team today and get started with the process of listing your home on the market! We guarantee to sell your home in 59 days or less! If we don’t, the listing fee is waived!

So what are you waiting for? Call now! Our North Raleigh real estate agent is standing by to help you get your home sold during one of the busiest times of the year for real estate!

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