Buying a house in Seattle might not be cheap, but there are a lot of ways you can save without sacrificing the important things. Save Time & Money On Your Home Search
Make sure you get pre-qualified for a mortgage loan before you go online to look at a single listing. You don’t want to waste weeks and months of gas and time online looking at houses which aren’t in your price range.
Ask Your Broker To Customize Your Loan
You can tailor your home loan to meet your needs to save money out of pocket now or over time.
Reduce out of pocket costs by:
● Choosing a higher LTV loan
● Having the seller pay your closing costs
● Making a smaller or no down payment
● Asking for a no points loan
Reduce overall housing costs by:
● Making a larger down payment
● Paying points and getting a lower interest rate
● Opting for a prepayment penalty
Don’t Wait & Attempt to Time the Market
Even the best investors in the world rarely get it perfectly right. We have access to more data and knowledge than ever before. Yet, if interest rates are good and you find a home you can afford lock it in. Over the long term property prices just keep going up.
Think 10 Years Ahead
Today’s trendy neighborhood will probably be far out of fashion and not nearly as nice in 10 years. You’ll get a much better deal and may save $200,000 or more by choosing a community that is one the fringes today, but will become the next hot thing. That’s how you’ll build lots of equity too.
Property Condition
Don’t buy the builders’ model home. Look for something that you can keep updating and adding your own style to along the way, while maintaining lower payments.
Ask for Discounts
Ask your mortgage broker, Realtor, insurance agent and title insurance company where you can save a few hundred dollars. It’ll really add up by the time you close.
Choose Your Mortgage Broker Wisely
Find an experienced loan officer with good reviews who you can trust to give you a fair deal. Be wary of those who low ball you and just tell you what you want to hear. You could pay far, far more at closing.
Increasing Your Income
When you can save any more or decrease your expenses any further, increase your income. Can you find a place with room for a roommate or a spare room or suite to rent out on Airbnb?
Get pre-approved for your home loan and start your home search today...
Need to qualify for a Seattle mortgage now? Call: 206-251-0818
Seattle’s Mortgage Broker – Joe Tafolla -
Helping Washington Home Buyers Achieve Financial Success
NMLS 209726
506 2nd Ave, Suite 1400, Seattle, WA 98104
A Division of Seattle Mortgage Brokers LLC MB# 761615
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