Tips for first-time home buyers


Are you ready to make renting a thing of the past and purchase your first home? If so, here are some tips from our friends at Raleigh Mortgage Group to lend a hand in preparing for financing a new home purchase. 

  1. Make sure your credit is in good shape!

    • Check your credit score

      • Excellent Credit: 750+

      • Good Credit: 700 – 749

      • Fair Credit: 650 – 699

    • Work to get your credit card balances below 40% of the limit

  2. If you are currently renting, pay by check!

    • Having documented proof of your last 12-months of payments is often required by the lender

  3. Obtain proof of employment for the past 2 years.

    • This may be done through W2s and tax returns

    • Paystubs covering 30-days

  4. Avoid large deposits or withdrawals from your bank account leading up to and during the time you are purchasing your home

  5. Work with your lender, banker, or financial adviser to determine a down payment amount based on your available funds

  6. Obtain pre-approval from a Mortgage Professional

Work with your real estate professional & mortgage professional to help close the deal on your new home!

Raleigh Mortgage Group is an equal housing lender. NMLS# 69573. All rates & programs are subject to credit approval and current market pricing.