Jeremy Ridleys’ Top Tips for First-Time Home buyers

  • Mar 01, 2024
  • | 34

The very first home you buy is going to be the first step towards making your dreams come true. You’ll need all the right guidance and knowledge you can get for this process. Jeremy Ridley is an experienced mortgage expert who can provide some top tips for homebuyers to help you make an informed decision. Let’s look at some of the best tips for beginners in the mortgage process.

Understand your financial situation

Finances need careful assessment and realistic overlook before you make any major decision in life like buying a home. You need to have a close look at your expenses, determine what are your current savings, and how much are you going to save with your current income in the next few years. Try to avoid overextending yourself, as a mortgage broker Alliston like Jeremy Ridley can have a look into all these things and give you the technical outlook on it.

Getting a pre-approved mortgage

One of the first things that come with the home-buying process is getting a preapproved mortgage. This process includes everything, starting from your meetings with lenders who check your credit history and other financial documents to determine your borrowing capacity. Jeremy Ridley emphasizes having early approval to help you understand your budget and bolster your credibility.

Exploring mortgage options

Kirkland Lake mortgage broker Jeremy Ridley can help you guide through the range of options that exist in the market right now. These experts can also pinpoint the one that exactly fits your needs and financial objectives. Jeremy Ridley recommends first-time buyers always consider factors such as interest rates, loan terms, and down payment requirements when it comes to evaluating mortgage options.

Understanding Closing Costs

Closing costs can include fees associated with finalizing real estate transactions, and other appraisal fees, titles, insurance, attorney fees, and other expenses. Jeremy Ridley and his team can help you understand the real costs. They can help you with budgeting wisely to work on your down payments, and mortgage payments down the road. They always work with first-time buyers and carefully review their closing disclosure, advising on things that might be unclear.

Saving for Down payments

For people who are buying their first home, one of the hardest things is saving up for a down payment. Jeremy Ridley, a mortgage broker New Liskeard says that qualified people should start saving early and look into programs that help with the down payment.

Get in touch with Jeremy Ridley today by visiting https://mortgage.rbc.com/Jeremy.Ridley

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