First-Time Home Buyer Pitfalls [Infographic]

Buying your first home for most people is the largest purchase they will ever make. Talk about pressure!

Most people cannot pay cash for their first home, so they get a mortgage to finance the property. But getting a mortgage isn’t what it used to be. There have been many changes that have occurred to mortgage qualifications since the housing crash a few years ago, meaning getting financed for your first home can become quite a hassle.

Due to the changing mortgage industry, many people are shooting themselves in the foot when it comes to their qualifications as a borrower. From not being prepared for house hunting to not saving enough money for down payments, there are a lot of problems you can create for yourself.

Check out the infographic below for a list of the 12 most common mistakes first time homebuyers make and our tips for successfully buying for your first home.

First

Created by First Commerce Financial.

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Comments

  1. Hi Todd,
    Thanks that you share the infographic. We have to keep in mind many things while buying a first home. All the tips that wanted for a first time home buyer can be found in this info-graph.
    Thank you.

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