Boise Idaho’s next generation of first time home buyers must step up and take control of their home loan process and take responsibility for the documents they are signing. Remember you are borrowing hundred’s of thousands of dollars and required to pay it all back.
Take the time to gather the information about the loan process and examine ALL of YOUR loan documents.
It is the loan officer’s duty to explain everything to all first time home buyers. If your loan officer doesn’t look out for you, no one else will, until it is too late. TAKE CONTROL!
Home buyers must take the time to review everthing prior to going to the title company. Some potiential first time buyers don’t ask any questions until they are at the signing table. That is too late.
Here are a few things to keep in mind when purchasing your first Boise Idaho home
Make sure you have complete underwriter pre-approval, not just pre-qualified. In today’s fast moving purchase transactions, buyers need to be completely ready to go.
Obtain a full credit report with all 3 bureaus-now you must have 3 accounts with 12 month history.
Insist on a Good Faith Estimate upfront. A GFE has complete breakdown of all of the costs and down payment associated with the loan process.
Print out your own loan application and fill it out. It will only take you 20 to 30 minutes. That gives YOUcontrol. Remember the HUGE COMMENTMENT you are about to make. Take the time to do it RIGHT!
Do NOT do any unnecessary spending or obtain new credit. .
I would recommend attending the Idaho Housing Authority First Time Home Buyer Class located at 6th and Myrtle in Boise.
Make sure your first time buyer home loan is processed and underwritten locally here in Boise and your loan consultant is able to meet with you face to face at anytime if necessary. If your loan consultant is out of state, are your best interests a top priority?
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