Financing Your First Home
Financing Your First Home
When buying a home, it can be easy to get swept up in the excitement of imagining where you will live, the community your kids will grow up in, and the yard where you’ll spend many happy hours entertaining. However, in order to make this dream come true, it takes careful financial planning to ensure that you will be a successful homeowner. Learn more about how to finance your first home.
If home buying is a new experience for you, Mike Pugh has you covered with over three decades of real estate experience in the North Arlington, Virginia area. Mike has helped home buyers navigate the journey of owning a home from estimating costs and financially planning what you can afford, to using his insider knowledge to get access to homes before they go on the public market. While buying a home can feel overwhelming at times, Mike’s expertise makes it all worth it when you move into the home of your dreams.
Plan For Success
One of the first steps in financing your home is planning ahead. Even if you feel your current financial situation will not allow you to purchase the home of your dreams, Mike can help make it possible for you to purchase the property that meets your needs.
Planning financially for your first home starts long before the home hunting process. When you work with Mike, it is important that there is a clear expectation for price ranges to help him compile a list of properties that meet those requirements. If you are unsure what a reasonable price is for a home in North Arlington, then Mike and his team will work alongside you and your family to give a realistic idea of what it will take to purchase your first home.
In addition to working with Mike, it is important you work with an experienced lender to gain a better understanding of what loans are available to you. Knowing your credit score will also help you understand what loans you are eligible for and what homes you can make an offer for.
Home buying should be an exciting process, and that can still be the case when you have planned for success financially and partner with a Realtor that can make your dreams become reality.
Importance Of Down Payment
Now that you have a financial plan and an idea of how much you can afford, the real fun begins with visiting potential new homes for you and your family. When you work with Mike Pugh, his goal is to match you with not only the home of your dreams but also a community that you and your loved ones can thrive in.
He wants you to fall in love with the whole area, and to know when the home is “the one.” Once you have this moment of clarity, it may be time to move fast as the property market in the North Arlington area can move quickly and competitively.
Being prepared with your down payment and pre-approval information, will set you apart from other applicants who may still have to sort out their finances. While 20% is the standard down payment, it is often a good idea to consider the maximum you are able to put down as this lowers your monthly mortgage and makes your application more appealing.
Mike will help you navigate the process of making an offer and assist with the details of financing so nothing stands between you and your future home.
Find A Property Worth The Money
Ultimately, it is Mike’s mission to not make finances the main focus of your home buying experience. No matter your circumstances, Mike can help you take the steps needed to buy your first home.
When you finally move into the home of your dreams, money is no measure of the happiness and community you will feel after purchasing your first home.
Contact Mike Pugh Today
If you would like more information about financing your first home or are ready to start the journey, contact Mike Pugh today and start seeing the possibilities.
You can also contact Mike at 703.593.6320