Savvy First-Time Homebuyers

So you’re interested in buying a home and you may have some anxiety about making some expensive mistakes. Don’t fret! We’re here to help.

1. Before you begin looking, consider the budget that will best serve your needs. How much can you put down? How much financing can you get? How much do you have saved up (i.e. reserves)?

Buying a home involves financing (or cash), getting inspections ($), ordering appraisals ($$), and down payments/closing costs ($$$.)

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2. Generally, to qualify for a home loan, you’ll need to have good credit, good payment history, verifiable income, and responsible debt ratios.

FHA loans typically require a minimum middle (middle of all three bureaus) credit score of 620-640. Conventional loans typically require a minimum credit score of 660-680.

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3. Probably the most exciting question…what type of home do you need? Single-family? Townhome? Condo? Multi-Family? Duplex?

What specific features do you want? Stainless steel? Fixer-upper? White cabinets? Carpet? Hardwood? How many bathrooms? Bedrooms?

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4. Your Savyy Realtor will help you finds homes that meet your needs and that are in your budget, then meet you to tour those homes. Once you’ve chosen a home – your Savvy real estate professional will assist you with negotiating the entire purchase journey.

Your Savvy Estates ATL agent can help you with getting a loan, making offers, negotiating repairs, completing paperwork, and protecting you from making expensive mistakes. Most agents get paid commission from the seller’s earnings.

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