Do you feel overwhelmed with the process of home buying? You’re not alone. Homebuyer surveys find that more people today want to buy a home, but challenges such as saving for a down payment and student loans are keeping them sidelined.
We know the vast majority of buyers (92 percent) use online search at some point in their home buying process. Maybe that’s how you found us at Down Payment Resource!
But, before you start picking out your dream house online, take a minute to make sure you grasp these 7 key facts about homeownership.
1. Go back to school (for a day). We know you probably just Goggled “how to buy a home,” but did you know there are homeownership education courses that can really help you prepare? Homebuyer counseling is typically required when using a down payment assistance program, but any buyer can benefit. You’ll learn about the home buying process, improving your credit, mortgage terms, planning a budget and more. Plus, a new study finds that by simply participating in these in person or online courses, you’ll reduce your risk of foreclosure by 42 percent.
2. Get an agent. If you aren’t yet a homebuyer, there’s no reason not to have a real estate agent. keep reading