Alex Shekhtman Buying a home is exciting, but it’s also easy to make mistakes that can cost you time, money, and stress. Some missteps could even delay or derail your homeownership dreams entirely.
The good news? A little knowledge can save you thousands and make the process much smoother. Here are the most common pitfalls — and how to avoid them.
❌ Mistake #1: Not Knowing How Much You Can Afford
It’s tempting to look at dream homes first, but without knowing your budget, you might fall in love with something way out of your price range.
✅ What to do instead: Get pre-approved for a mortgage first. LBC Mortgage will help you figure out exactly how much you can afford and make your offer stronger when you find the right home.
❌ Mistake #2: Skipping Loan Options
Many buyers think a 20% down payment is obligatory — it’s not! There are many loan options with low or even zero down payments.
✅ What to do instead: Talk to LBC Mortgage about FHA, VA, USDA, or first-time buyer programs. You might be able to buy with just 3% down or even nothing at all!
❌ Mistake #3: Taking on New Debt Before Closing
You found the perfect home, got pre-approved, and then… bought a new car or furniture on credit. Oops! This can change your financial profile and even cancel your loan approval.
✅ What to do instead: Wait until after closing to take on any new loans or big purchases. Your LBC Mortgage loan officer will guide you on what to avoid so nothing jeopardizes your approval.
❌ Mistake #4: Ignoring Extra Costs
Your monthly mortgage isn’t the only expense! Property taxes, home insurance, closing costs, and maintenance add up.
✅ What to do instead: Work with LBC Mortgage to get a clear estimate of your true monthly payment, including all hidden costs — so there are no surprises.
We’re here to guide you every step of the way and ensure you get the best deal with minimal hassle!
Ready to buy with confidence? Contact LBC Mortgage today for expert guidance and the best loan options for your situation!
