IN Mt. Lebanon Summer 2018 | Page 41

Heather Orstein, What First-Time Homebuyers Should Know The Classic Name in Real Estate Years of Local Experience Expert at maximizing your selling price Assist Buyers in finding desirable homes Provide a no-cost, no-obligation Home Market Analysis Last year was a great year for new homebuyers. According to the National Association of Realtors, about 35 percent of the homebuying market was made up of first-time buyers. Yet, each year is not created equally in the mortgage industry and real estate market. Changes happen frequently and it is often hard to keep up. If you’re looking to break into real estate for the first time, here are some insights into how to navigate the market. FREE AC OR FURNACE “CLEAN & CHECK” SAVING. This certificate entitles you to a Free AC or Furnace “Clean & Check” by Fife Heating and AC with your 6 month listing. Step number one for a first-time homebuyer should always be saving. Take a look at your current finances. It’s recommended that your mortgage payment not exceed 30 percent of your gross monthly income. See where you can cut back spending to put away a little extra out of your paycheck every month for your new home. Not only can this cash go toward a down payment, but most likely you’ll need furniture, appliances, and decorations to furnish your new home. Don’t just calculate the amount of money needed for a down payment. Keep in mind the unforeseen expenses such as home repairs, agent fees and closing costs. You can never save too much! Expires 10/31/2018 2018 1. Mortgage. Heather Orstein 2018 (O) 412.833.7700 • (C) 412.596.5669 [email protected] 1679 Washington Road, Pittsburgh, PA 15228 2018 2018 Applying for a mortgage can be an intimidating process, but if you prepare accordingly, you’ll be happy with the outcome. According to LendingTree.com, mortgage lenders are allowing higher debt levels for borrowers with lower down payments (as little as 3 percent on a conventional mortgage loan). You may not need the typical 20 percent down that was required of homebuyers a few decades ago. If your debt-to-income ratio is high, you may not have to worry. Mortgage companies are making it easier for borrowers with more debt to still qualify. Continued on next page > BEDILLION MATHEWS R E A LT O R S 2018 Professional Service That Moves You! Wondering what your home may be worth? Visit www.BedillionMathews.com for a free and instant home value estimate. Magen Bedillion & Laurisa Mathews Office: (M) 412-833-7700 x215 • (L) 412-833-7700 x220 Cell: (M) 724-288-7007 • (L) 412-616-0424 www.BedillionMathews.com ©2018 BHH Affiliates, LLC. An independently owned and operated franchise of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information not verified or guaranteed. If your home is currently listed with a Broker, this is not a solicitation. MT. LEBANON ❘ SUMMER 2018 39