5 Things First Time Home Buyers Should And Should Not Do

Dated: 05/01/2017

Views: 159


If you are a first-time home buyer, you may not know that your credit is checked just prior to closing on a home.  When you are in the process of securing a mortgage to purchase a home, you should avoid large credit purchases or large outlays of cash from your reserves.  It could impact your ability to qualify for a mortgage loan.  


The most important tip I can offer is to work closely with your trusted lender, talk with them before making any purchase.  Here are a few “don’t do’s”:

  • Don’t apply for new credit without talking with your lender.

  • Don’t open a new credit card or close out a credit account without talking with your lender.

  • Don’t transfer balances or consolidate debt without talking with your lender.

  • Don’t open a new cell phone (or new car or new furniture, etc) account without talking with your lender.

  • Don’t change jobs without letting your lender know first!


There are a few things you should do when applying for a mortgage and working through the process:

  • Do know your credit score.

  • Do work closely with your lender and get Pre-approved for a mortgage.

  • Do know what payment amount comfortably fits your budget.

  • Do choose a real estate agent who listens and whose communication style fits with yours.

  • Once you’ve found your new home, Do have a Home Inspection.


If you have questions about any of the Don’t and Do’s here, let me know.  If you are in the San Antonio area and need assistance with your real estate needs, let’s meet to discuss them. 

Blog author image

Sharon Miller

Sharon is a military wife who moved at the direction of the U.S. Army for nearly 30 years, a Federal employee who retired after 30 years of service, an active Broker Associate/REALTOR in San Antonio w....

Latest Blog Posts

For Sale 2323 Winding View San Antonio TX 78260

Welcome to 2323 Winding View San Antonio, TX 78260If you have thoughts of entertaining a large group or holding a large family gathering  and can imagine you and your loved ones

Read More

Staging Give Your Home The Advantage In A Competitive Housing Market

So you’re ready to sell your home? Staging can give you the upper-hand in a competitive housing market. This article “Sell Your Home Fast: 21 Staging Tips” by Laura Gaskill, published

Read More

Feb 19 2018 51921 1

I'm sure all you wine drinkers have had wine spill on your clothes at least once in your wine drinking life time. Here is a solution that could help get rid of that annoying stain:(STEP 1) Quickly

Read More

366 Pecan Meadows New Braunfels TX 78130 For Sale

366 Pecan Meadows New Braunfels, TX 78130 is situated between San Antonio and Austin, it is a sought after community to live as it offers a small town feel, but with great access to major

Read More