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Ken Kordenbrock | Platinum Partners Home & Property Team Blog

Friday, March 10, 2017   /   by Ken Kordenbrock

6 Things I Wish I Knew When I Bought My First Home

There are common mistakes first-time buyers make. Avoid making critical missteps by being informed and asking the right questions upfront. A large percentage of buying blunders are avoidable. Try to avoid the following mistakes...
Don’t borrow the full amount the bank is willing to lend
Just because you’re approved for it doesn’t mean you should buy the most expensive house you can. As a general rule, take 20% less than the amount the bank is willing to lend. Buying a home below the maximum will safeguard your financial security.
Avoid extra-low, short-term adjustable rate mortgages
Skip the adjustable, creative financing, balloon payments, and teaser loans. No matter what life brings, you will always have your monthly mortgage payment.  A fixed mortgage will remain the same 10 or 15 years from now, regardless of how the market, interest rates, or the economy changes over time. A predictable, constant mortgage will help you determine other financial deci ...

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