Five tips first-time homebuyers wish they knew

Get Pre-Approved for a Mortgage

Securing pre-approval for a mortgage is a powerful tool for first-time buyers. It not only helps you understand how much you can borrow but also makes you a more attractive buyer to sellers. Pre-approval involves a lender reviewing your financial information and determining how much they are willing to lend you. This process gives you a clearer picture of your price range and can speed up the buying process once you find a home you love. Many financial institutions offer competitive rates and incentives for first-time buyers, so be sure to search options and compare offers from different lenders².