Shannon Helmuth Professional Realtor

3 Must-Do’s for First-Time Home Buyers

Buying your first home doesn’t mean you have to have everything figured out. It just requires a plan.

If you start with your finances, organize your documents, and surround yourself with the right people, you’ll be in great shape when the time comes to make a move.

And if you want more information on anything in this list or just need help getting started, don’t hesitate to reach out.

3 Must-Do’s for First-Time Home Buyers Buying your first home is exciting, but it can also be a little nerve-wrecking because it’s something you’ve never done before.

Does the recent rise in foreclosure filings mean we’re headed for another crash? The short answer is no.

Right now, only 1% of all homes are seriously delinquent, meaning the owners are more than 90 days behind on their payments. That’s only 1 in 100.

During the last crash, it was 9%. That’s 1 in 11. And that’s a big difference.

Plus, not every delinquency even turns into a foreclosure. Many homeowners work out repayment plans. Others will use their equity to sell.

So, don’t let foreclosure headlines spark flashbacks to 2008. This isn’t a wave. It’s a ripple at most.

Should You Wait for Lower Rates?

If you’ve been sitting on the sidelines waiting for that magic number for rates, that strategy may not pay off as much as you’d expect.

Let's connect so you can double check the math at your price point. You may realize payments are already within your range.

Should You Wait for Lower Rates? Mortgage rates have already dropped into the upper 5s twice this year. But after just a few days, they ticked back up into the low 6% range.

Applying for a loan is a big decision that requires a thorough understanding of the terms involved. Here are some pivotal questions to keep in mind during this process. 📝🔍

1️⃣ What's the interest rate? This rate will directly impact the amount you repay, so it's essential to understand it fully. 📊💲

2️⃣ Are there any additional fees? Beyond the interest rate, ensure you're aware of any origination, application, or prepayment fees to avoid unexpected costs. 🧐💰

3️⃣ What is the loan's term? The loan's duration will dictate your monthly payments and the total amount to be repaid. Ensure it aligns with your financial plans. ⏳🔄

4️⃣ What will my monthly payment be? It's important to ensure that your monthly installment is comfortably within your budget to avoid financial strain. 📅💵

5️⃣ Is there a penalty for early repayment? If you plan to repay your loan earlier than scheduled, ensure this won't incur extra charges. 🏃‍♀️⏱️

6️⃣ What happens if I miss a payment? Understanding the consequences of missed payments helps in planning for any unexpected financial setbacks. 🚧⚠️

Being well-informed leads to sound financial decisions. Don't hesitate to ask these questions - it's your money and your future at stake!



Realty ONE Group SHANNON HELMUTH MRP
Realtor®
https://shannonhelmuth.myrealtyonegroup.com/
321 Harbor Blvd
Destin, FL 32541
m: 850.582.0123 |

If Your House Isn’t Getting Offers, Read This.

If your listing feels stuck, it’s not a sign you shouldn’t sell. It’s the market giving you feedback. And feedback is powerful when you use it.

Start with a real conversation with a real agent about what’s working and what’s not. Your agent will be able to tell you which small adjustments could totally change the momentum. Because in this market, the sellers who adapt are the ones who move.

If Your House Isn’t Getting Offers, Read This. Online searches for “can’t sell house” just hit an all-time high according to Google Trends.