First time buyers have probably been watching the market for a while now and considering their move for their first home. They have been looking at property websites and estate agent windows. They may have seen a few houses already.
Should they have been watching their credit score as well, they are in for a treat. It is a buyers market and even though they come up with a lower offer, homeowners may take them on those offers. On top of it there are great seller incentives. They may be able to get owner assisted down payment on some properties. They should make it clear to the realtor that they are only buyers if the deal is right. They can not do such things in a strong housing market. They clearly have nothing to sell. That is a big plus in this market to people who wants a quick sale.
Mortgage rates are record low. It is a perfect place to start. It is usually not the advice for first time buyers, but they could well fix their rate as long as they care. They should check that they can move their mortgage with them if they decide to move in the future. Some mortgage lenders allow this option which is especially great for first time home owners.
It may be high time to make that decision and put their first offer. They should seek for a pre-approval from their chosen lender to have even stronger negotiating power. And they should negotiate well. This is their chance and they are at the right place at the right time. All they need to ask themselves is that are they ready for a home mortgage commitment.
About the Author:Get free Credit Score, Mortgage Rates and Quotes at Refinance Home Mortgage Loan. JS Lee has years of mortgage brokerage experience. Her other site is Refinance Mortgage Loan
