Buying a home is supposed to be a really exciting experience for individuals, couples, and families alike. However, an attorney with experience and positive reviews, like Tim Kassouni lawyer reviews, a real estate lawyer in Sacramento, CA, knows that if potential home buyers don’t have an idea of what they’re looking for or what is realistically within their financial means, then they may find themselves filled with regret after signing on the dotted line. We always recommend having an attorney help you throughout the process of buying a home, to ensure that you are agreeing to a deal that is in your best interests. 

Here are examples of some of the most common mistakes that home buyers make when they don’t have legal representation guiding them: 

Wasting Time On Homes They Cannot Afford

If you don’t know what your budget is for a house, then you may waste time on something that is beyond your means. Or, you may take a look at homes that are way below the price level you are aiming for. Especially for first-time buyers, the goal is to purchase a home and a loan that has a comfortable monthly payment. If you go above your budget, you may not be able to enjoy your home because you are constantly worried if you’ll make ends meet.

You can avoid this mistake by using a calculator for mortgage affordability, so you understand what is perfect for you, what is a little bit of a stretch, and what is going to be way too much. An attorney can also evaluate the home and your price range, and confirm whether the property is even worth the money that it is selling for. 

Forgetting About Your Credit Report and Score

Trust us when we say that most mortgage lenders, if not all, are going to scrutinize your credit score and report before deciding whether you get a loan and what your interest rate will be. We suggest also checking for errors on your report, and getting them fixed as soon as possible before getting a quote for a loan. If there’s a mistake on your report, then a lender may force you to pay more than you would otherwise. 

Making Too Small of a Down Payment

Some loans don’t require a home buyer to submit much of a down payment when purchasing a home. While that might sound appealing initially, remember that your mortgage is probably going to be more per month if you don’t hand over a chunk of change to start. The key is making a down payment that will secure a monthly house payment that is affordable. You can avoid this mistake by taking longer to save before buying a home. An attorney is knowledgeable of the nuances that come along with real estate, so please don’t hesitate to contact a law firm today for a free consultation about purchasing a home.