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Scott Schultz's Blog

By Scott Schultz | Agent in Apple Valley, MN

Columbia Heights First Time Home Buyers

Are you in the planning stages to buy your own home in Columbia Heights, Minnesota? There are some basic things I would like to share with you about Columbia Heights real estate to help make sure that you avoid some of the biggest mistakes many first time home buyers make. With some very basic preparation you can avoid some of the most painful pitfalls.

Info About Columbia Heights

The City of Colubmia Heights is an excellent place to live and is an inner ring suburb to Minneapolis. With ample affordable housing available, the MN first time home buyer may benefit from the Anoka County First Time Home Buyers Program. The well developed Park and Rec department offers activities for everyone. As a short commute to both Minneapolis and St. Paul there are plenty of employment opportunities for residents of Columbia Heights. If you are searching for a great suburb to buy your next home please don't hesitate to give me a call or send me an email.

1) Get prequalified for your home loan first! I have met far too many first time buyers who find their home before they get prequalified for a home loan. It can be a painful experience to go through the work of finding the ideal home only to find out you are not yet ready to qualify for a home loan. You can get preapproved with my preferred Minnesota mortgage lender even during the evenings or on weekends, and generally right over the phone. There is no cost for the service and absolutley no obligation so why not start the process immediately?

2) Get educated about the whole process of buying a home. You can learn a great deal at a first time home buyer seminar or at a Home Stretch Worshop available through many communities around the Twin Cities. There is so much to know about the home buying process that it is well worth it to learn as much about it as you can…and as early as you can.

3) Get a home inspection on the house you buy. While a professional home inspection is not usually required by your lender it can reveal major potential problems in the house before you are fully committed to the purchase. You can negotiate a transaction with a contingency upon a satisfactory home inspection so that if the inspection reveals problems, you can back out of the transaction within a specified period of time. Some first time buyers will skip buying the house inspection because of the cost involved. This cost is cheap when compared to making a purchase of a home that later reveals multiple problems.

4) Take good care of your credit after preapproval. After you have received your preapproval for mortgage financing your lender still might need to check your credit again. Make your payments on time and do not open up any new credit. Additionally, avoid additional credit inquiries after your preapproval to avoid a reduction to your credit score.

5) Don't spend your down payment money prior to loan closing. Your MN mortgage banker will give you a good faith estimate at loan application showing how much money you will need at closing. Make sure to save your money so that you're not caught in a bind on the day of closing.

First Step In The Process

For many MN first time buyers the big, intimidating question is where do I start the process? Your very first step to home ownership is to get preapproved for a mortgage. By doing so you find out how much of a loan you are qualified for so that we can research homes in a price range with comfortable payments for you.

Scott Schultz
Sales Executive, Licensed Realtor in Minnesota
Remax Results
scott.schultz@results.net
Cell 952-221-7419
Direct 952-431-2400
Fax 952-431-0420
14451 Founders Lane
Apple Valley, MN 55124
With a focus on Apple Valley real estate and surrounding communities.

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