Buying your first home is exciting and a bit scary.  If you are an eager first-time homebuyer here are some tips as you take the plunge.

Mortgage Calculator: Check out an online mortgage calculator before calling a lender or a real estate agent.  This will give you an idea of exactly where you stand when you start your search. A mortgage calculator will allow you to see exactly what your monthly mortgage payment would be and you can determine if this is a step you are ready to take on.

Pre-approval:  Once you have determined the payment you are comfortable with and the price point at which that is speak with a mortgage lender.  This is a crucial step because this is the highest point at which you should have your realtor look for homes for you to view.  A pre-approval is something most sellers are looking for when they accept an offer from a buyer.  This is an important step in the buying process.

Find a Realtor:  Buying a home, especially your first, requires the assistance of a real estate agent.  Find a realtor that specializes in the area that you are looking to purchase.  Talk with them about their feelings on the area; is this a solid investment that will be able to build up equity.  You are not only buying a home you are making a financial investment.

Check Selling Prices:  Are the local selling prices within the amount you are pre-approved for?  If not are you willing to check into other areas or does this take you out of the housing market?

Total Monthly Costs:  Look into the monthly costs associated with your mortgage, utilities and other outside expenses that you have.  The goal in purchasing a home is not to go into debt; it is to be able to live in a home of your own.  The key there is to live.  You need to look at the big picture and make sure that you are not financially putting yourself at risk.  Don’t feel that just because you are approved for a certain amount that is what you need to spend on a home.  Purchase a home with monthly payments that are affordable and that allow you to make improvements to the home, building equity, as well as living life.

Prepare For The Hunt:  If the numbers make sense and you are ready to take the plunge get ready for the hunt of a lifetime.  Finding your first home is a thrilling adventure.  Once you find it you will know and then you get to venture into the realm of mortgages and home loans.

Cross Country Mortgage in Brighton, Michigan provide mortgage services for clients including new home loans, refinancing, reversed mortgages, new purchase home mortgages and home equity loans to the entire Livingston County area including Brighton, Howell and Livingston County. Cross Country Mortgage Brighton, MI at