5 Things First Time Home Buyers Should And Should Not Do

Dated: 05/01/2017

Views: 294


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. 

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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....

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