We sat down with NuMark’s Vice President of Mortgage Lending, Harry Stewart, and asked him what are the top three most important things that first-time homebuyers need to know. See below for what insights he had to share!
Q: What are some of the common challenges that you’ve seen first-time homebuyers run into when they’re looking for their first home?
A: Two of the biggest challenges is managing expectations and understanding the full scope of costs. First-time buyers often have a vision of their dream home, but balancing that with budget, location, and market conditions can be tough. Not to mention, additional fees like property taxes, insurance, and maintenance often catch first-time buyers off guard.
Q: What are some mistakes that first-time homebuyers should avoid when considering their mortgage options?
A: A common mistake I see is buyers trying to navigate mortgage options on their own or relying solely on online tools. One of the most important things a first-time buyer can do is work with a professional lender who’s truly invested in their success. That’s what we do at NuMark! We’re here to build relationships and help our members feel confident every step of the way.
Q: What are some green flags that first-time homebuyers should look for when it comes to working with a lender?
A: Today’s homebuying market moves really fast, and you want a lender who’s professional, available, and proactive. Look for someone who takes the time to educate you, not just sell you a product. Someone who’s invested in your long-term financial wellbeing and success is the one you can trust. For example, a great lender like NuMark Credit Union will clearly explain all your options, answer questions patiently, and provide a breakdown of costs without hidden fees.
If you are ready to start your journey to homeownership, want to learn more about what options you have a NuMark and connect with our Mortgage Experts, click here.
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