Mistake 2: Skipping mortgage qualification.

Before you place an offer on a house, obtain a pre-approved loan. This way, you won’t agree to something before knowing you will be able to pay for it. Also, understand that even after you’ve been pre-approved, the loan can still fall through if you do something to dramatically alter your credit score, like buying a car.

Therefore, when buying a house, it’s important to not only receive a pre-approved loan, but to also hold off on other large expenses for a while. If you really can’t wait to get that new car, perhaps you should hold the home purchasing process until later. After all, only you can determine what’s most important for yourself and your family.

NEXT Mistake 3: Failing to consider additional expenses.

Buying, First Time Homebuyers,