In this video, you will learn about a home buyer. When you are buying a home, there are things you will want to watch out for. By following these tips and tricks, you will be able to save yourself money and headaches in the long run.
One of the mistakes you can make as a homebuyer is to only use the money you have prequalified for. If you only use this amount, you are holding yourself back from a lot of income. How they determine if you prequalify is by using your gross income. They are trying to get you into a house as quickly as possible. First and foremost, when a lender prequalifies you, they are only using your income. They are not using your net income, which takes into account debt and bills. Make sure you are actually able to make the monthly payments. It is difficult to keep in mind all of these tips and tricks. It might seem really overwhelming to buy a house, but doing research ahead of time helps keep your head above water. Keep watching this video for more information.