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By Ruby Frazier
First Time Buyer Guide: 10 house-hunting mistakes for first-time homebuyers
House hunting can be very serious and exhausting at the same time. More often than not, buyers who are in the market for the first time have issues deciding what to do and not to do while trying to get the house they desire. Here are some common mistakes made by new homebuyers and how to avoid them. 1. Too little down payment The 20% rule for a mortgage is a law nearly everyone knows about. Yet, only a small percentage of people really pay up to 20% on their first mortgage. This error, as little as I may seem, has caused lots of people to lose out on their mortgages as they couldn’t afford to make the right payments.
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2. Only one lender The options are limitless and still, people go for one option. Maybe this may be due to the fact that they obviously cannot keep up the stress of having to fill out paperwork or asking and reasking questions. Still, homebuyers should always make sure they have options when buying.
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