First Time Home Buyer

3 Must Do’s for First Time Homebuyers

3 Must Do’s for First Time Homebuyers - Paramount Equity®

First time home buyer-Paramount Equity®Buying your first home is serious business. It takes planning, years of savings and a suitable mortgage that fits your income. But, without experience, you can make simple mistakes when choosing your first property.

Follow these 3 must do’s for first time homebuyers to get the right home for you.

Must Do #1: Save More Than You Need

When buying your first property it’s important to determine what the actual cost will be so you can adequately save and budget in advance. Get pre-approved for a mortgage loan from your bank to ensure you can handle payments, interest and taxes on the property. (more…)

Read More »

How Much Home Can You Afford?

Paramount Equity® - affording your home

Affording Homes- Paramount Equity®It is common for those who are interested in buying a new home to look for the nicest, largest home they can afford. Nobody wants to buy a home that is too expensive or burdensome on their finances. However, you may have no plans to move in the next few years, and you want to ensure that your home provides you and your family with plenty of space, amenities, and décor to make your time there enjoyable. You can answer the question of how much home can you afford by reviewing a few key factors.

Your Down Payment

It is wise to talk to a mortgage company fairly soon in your quest to buy a home. The days of putting zero percent down on a home are largely gone, and many mortgage lenders will require you to put down a  decent amount of money when buying a home:10 to 20 percent down is a common (more…)

Read More »

Affording your first home

Paramount Equity® - first home

Affording your first home- Paramount Equity®When you are interested in buying your first home, one of the biggest challenges that you will have to overcome is generating enough money to make a down payment. If you want to be able to come up with enough money for the down payment, don’t just cut out some of your expenses. Instead, boost your income and get the down payment faster. Here are some of the best ideas for bringing in more income for a down payment.

Work Two Jobs

Affording your first home by bringing in more income is one of the best ways to shorten the amount of time it takes to get money for a down payment. If you currently have a job, consider working a second job in your spare time to bring in more money. If you save for a down payment with an extra job, you will also be more likely (more…)

Read More »

Five Things Homeowners Wish They Knew Before They Bought Their Home

Stress concept - angry frustrated man with exploding head

things homowners need to know- Paramount Equity®If you’ve never purchased a home before, there are several things that you may not yet understand about the process. A lot of these lessons are only learned after you buy the home and move into it. Here are five things to know before you buy your first home.

Repairs and Maintenance Never Stop

One of the things that takes many homeowners by surprise is how much work is involved in owning a home. The repairs and maintenance seem to never stop. When you are an owner of the house, you have to take everything from painting to plumbing.
As a renter, you may not have had to deal with these issues. Once you become the owner, the responsibility falls squarely on your shoulders.

Choose Your Neighbors Carefully

(more…)

Read More »

House Hunting Tips – The Basics

paramount-equity-house-hunting

House Hunting Tips- Paramount Equity®The decision whether to rent or buy a house is a big one and should not be taken lightly in any circumstance. When you do decide to take the plunge, put some useful house hunting tips into action so you find exactly what you’re looking for with the least amount of hassle.

Location is one of the key factors that goes into determining where and what house you select. Take a look at the places of employment, schools and entertainment venues that are local. Don’t select a house that has a longer commute than you are willing to make every day.

Take a look through the neighborhood where you’re contemplating moving. Look in peoples’ yards for signs that say “for sale” and, if you have interest in any of them, call the realtor to get more information about the home. (more…)

Read More »

First Time Home Buyer Tips

paramount equity first time home buyer

First time Home buyer - Paramount Equity®Buying a home is one of the biggest and most important investments in a person’s life. That first-time home buying experience can seem a little overwhelming at first, but there is plenty of tried-and-true advice for first time home buyers out there.

Below are five first time homebuyer tips that anyone can implement today.

1. Have a substantial down payment ready.

In order to avoid having to buy extra insurance which will increase your monthly mortgage payment, you should have at least 20% of the total price of the house to put down up front. This will also give you much more leeway with the lending institution that you choose. (more…)

Read More »

How Much Money do I Need to Have to Buy a House?

Stacks of One Hundred Dollar Bills with Small House.

Stacks of One Hundred Dollar Bills with Small House.Finding your dream home is exciting. This is the place where you will come at the end of every day. This may be the place where you build a family, a career and a life together with that someone special. Before you jump into purchasing your dream home, be sure that you have all your finances in order. Knowing how much you need to buy a house will prevent your dream home from turning into a nightmare.

How Much Money Do I Need to Have to Buy a House

When we think about buying a house, the first thing people think about is the cost. What is the home listed at? This is the bulk of the money that you will often need to have financed. This number is not set in stone and can fluctuate in the negotiation process. This is also just a surface number.

The Hidden Costs of Buying a Home                                                              (more…)

Read More »

Saving up for your First Home

Saving up for your First Home

Saving up for your First HomeBuying your first home is an exciting milestone. This is something which is part of the American dream and something many strive for. In order to make this dream a reality, you have to prepare for it. Saving the money is the hardest part of getting ready to buy a new home. Here are some top tips on how and what to save before you buy your first home.

Reasons to Save

When you go to apply for a mortgage the bank will look at several things. They want to see if you are financially stable and ready for the obligation. In order to look solid you should:

• Have a low debt to income ratio

• Have a strong credit score (more…)

Read More »
Copyright © 2003-2017 Paramount Equity® Blog. All rights reserved.
"Paramount Equity®", "Paramount Equity Mortgage®" and "Savings Made Simple" are trademarks of Paramount Equity Mortgage®, LLC.
   

Paramount Equity Mortgage®, LLC is licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, License #4170047; Arizona Mortgage Banker License #0922160, NMLS# 30336; regulated by the Colorado Division of Real Estate NMLS# 30336; Connecticut - Connecticut Mortgage Lender License # ML-30336; D.C. - Mortgage Lender License #MLB30336; Florida Mortgage Lender Servicer License # MLD 898; Kansas - Kansas licensed mortgage company License # MC.0025206; Maryland - Mortgage Lender License # 21172; Nevada Mortgage Banker License #3919; Licensed by the N.J department of Banking and Insurance NMLS#30336; Oregon Mortgage Lender License #ML-3256; Texas – Paramount Equity Mortgage®, LLC NMLS #30336; Utah DRE Mortgage Entity License #6967176; Washington Consumer Loan Company License #CL-30336; and Wisconsin – Wisconsin Mortgage Banker License #30336BA; NMLS ID #30336.