What They don’t Tell First Time Homebuyers

Transcript

First time home buyers. What people don’t tell you, the most important thing to look at is actually not your pay stubs and your credit report to figure out your debt income ratio. It’s your bank statement. When you’re buying a home and your first time home buyer, usually your monthly bills go up because that’s.

That money has to come from somewhere. So you look on your bank statement, you make sure you have the savings in that amount of your payment increase. I know it’s a little counterintuitive, but this is what I found myself looking at when I was looking at what people should get as opposed to what they could get.

Now, sometimes you can get something much larger than what you should get, and you need to be mindful of that. As a first time home buyer, that’s one of the most important things.