Number One of Five First Time Buyer Mistakes

#1.  Picking the home/area/whatever before you get pre-qualified.  Actually, to be safe you want to get pre-approved. 

Don't you just love watching those real estate shows on TV?  Well, me too, especially the international ones!  The firsttime buyer show doesn't quite match the way we do things in Honolulu and Hawaii in general, but that's real estate; local,local,local.  One of the things that they do correctly, that you may feel is cruel, is to show a house that meets all the desires of the buyer and then let's them know the price - usually way out of their budget. 

Many first time buyers start looking at houses way before they even know what their budget is.  If you are looking to familiarize yourself with the areas in the place you are moving to or to find out what price ranges are - great.  It's key to understand neighborhoods and schools close to where you are moving; but don't pick the house first and then try and get a loan. 

A home purchase is probably the largest investment you will make in your life, so don't you want to make the best purchase you can?  That means knowing what you have to work with. 

A pre-approval by a lender is based on what you say you earn and spend; a pre-approval requires actual documentation so the lender can give you a better idea of down payment required, if mortgage insurance is required, points for rate information, and finally, exactly what you have to work with.

Now we can start to map out areas and home criteria that meet your budget. Give me a call 808-265-6803, and let the showings begin and let's find you your piece of paradise!