/First time home-buyer’s checklist
First time home-buyer’s checklist 2020-03-23T10:14:06+00:00

First time home-buyer’s checklist

Are you ready for your first mortgage? Don’t jump into browsing properties just yet. Take a look at what you should be doing first.

1. Make sure you are really ready:

  • You have a stable job
  • You can see yourself living in the same town for the next 5 to 10 years.
  • You are prepared for the extra work (and expenses) that comes with homeownership

2  Create your home wish list:

  • Write down what’s most important to you now and in the close future – location, size, number of bedrooms etc.
  • Check out real estate listings, neighborhood and types of housing to get a feel for what you like and what’s most important to you

3. Figure out what you can afford:

  • Go to DMC website and get pre-approved. Within minutes you will know what loan amount is available for you.
  • Talk to a loan officer about the possibility to customize your loan terms, qualify for a larger loan and other mortgage aspects that are important to you

4. Understand the mortgage application process:

  • Find out what documents you will need to submit
  • Calculate what other expenses there will be

5. Find your dream home

  • Search for a property yourself or seek assistance from real estate agents
  • Ask your friends, colleagues and relatives about their experience with a home purchase. Hear out their advice and mistakes.

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