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 Challenges Faced by First-time Home Buyers

For the first-time home buyers, this can be a problem at times. Many first-time home buyers are young professionals who are still in the process of building their careers. http://www.favista.com/blog/2017/09/19/-challenges-faced-first-time-home-buyers-2/

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 Challenges Faced by First-time Home Buyers

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  1. Q Menu ▼ Challenges Faced by First-time Home Buyers ©September 19, 2017 & Challenges home buyers, Home Buyers # Challenges Faced by Firstc-time Home Buyers,Challenges home buyers m Favista Admin ifc Like 0 Buying a house for the first time can certainly prove to be a pretty challenging task. The first-time buyers at times don't know the meaning of real estate or mortgage for that matter. The paperwork that is needed close a mortgage loan at times overwhelms them. It can be pretty intimidating to put together the amount of money that is required to purchase a home. Though, first-time buyers can make the process less stressful by recognizing and understanding the most common challenges that novice the home purchasers face. The down payment One of the biggest challenges for many home buyers is to come up with enough money for down payment. The most conventional mortgage lenders require firsttime buyers to come up with 10-20% of down payment of the final purchase price of the house. That certainly is a lot of money for anyone to come up with. Credit scores The mortgage lenders in today's time rely a lot on borrowers' to determine who actually gets the mortgage money and what will be the interest rate. There is a numerical representation of how sensibly the customers have lower scores than those who pay all bills on time each month. Credit scores can be a bit challenging especially for first-time home buyers simply because many of the buyers don't have established and long credit histories. This can end up in resulting in lower credit scores. Employment history Mortgage lenders do prefer to lend the money borrowers to have worked for the same employer for a minimum of two years. For the first-time home buyers, this can be a problem at times. Many first-time home buyers are young professionals who are still in the process of building their careers. This might mean that they

  2. would switch jobs one after the other that too pretty quickly Fortunately, the mortgage lenders are pretty flexible and easy on the employment issue. For first-time home buyers, it is very important to understand the real estate markets, its hooks and crooks to get the best deals, save money and end-up in getting the best possible property under their budget without any hindrances or problems. They can easily end up getting a great deal by being careful of the challenges and take appropriate steps to overcome all the issues that would hinder their experience of buying a dream house. About Favista Admin Sanjit is working with Favista real estate since last 2 years as digital marketing manager.View all posts by Favista Admin ^ ^ Glam up Passage at Home Leave a Reply Your email address will not be published. Required fields are marked * Comment Subscribe to our newsletter Want to be notified when our article is published? Enter your email address and name below to be the first to know. Facebook

  3. n Like Page Favista Real Estate Pvt Ltd on Saturday question from #Favista. click to know the answer -bit.ly/2h9weHO li 2 P Comment *+ Share Twitter Timeline Tweets by @FavistaRealty Recent Blogs Challenges Faced by First-time Home Buyers September 19, 2017 Glam up Passage at HomeSeptember 18, 2017 Things Every Home Buyer Needs to Know September 16, 2017 Antique Textured Walls for HomesSeptember 15, 2017 Reason Why Real Estate Agent is still ImportantSeptember 14, 2017 Favista is a Real Estate Advisory Firm based in Gurgaon, India. Favista believes in making every property transaction experience simple and successful. The aim is to bring transparency, professionalism and simplicity to the complex world of real estate. Favista takes pride in keeping the needs and concerns of the customers in highest regards. Favista Real Estate has been founded by IIT + IIM/INSEAD alumni with experience in strategy consulting, internet marketing, venture capital having been part of companies such as McKinsey, Capital One, PartyGaming and SSG Capital. Favista is a full service brokerage helping buyers/investors buy, sell, rent or lease property in India. Favista offers best realty advice for Apartments and Flats for sale in India, land/plots for sale, New Residential & Commercial Projects in India and also assists selling properties at best rates. Favista.com is the only Property Site in India that lists 100% verified properties. Favista currently operates in Gurgaon, Delhi-NCR, Noida, Mumbai and Bangalore.Those intending to sell property in India will also find this website very useful owing to the extensive reach, high brand recall and trustworthiness in the real estate space. In order to make our customers happy and for us to reach our goals, we follow the key tenets of transparency and consistently maintain integrity in everything that we do. With this professional attitude, we are set to become your preferred choice for all real estate services in India. ABOUT About UsOur TeamCareerContact UsTerms Privacy PolicyDisclaimer

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