Deciding to purchase a home in Albany, NY can not only be exciting, but it can also be a bit overwhelming. Your first home is a huge milestone, and you should start preparing now to make your new home buying process much more manageable. Then, once you have purchased your new home, call our agents at NY Twin Bridges Insurance Agency for information about how we can help protect you, your home, and your belongings. 

Determine a Budget

It is one thing to want to buy your dream home as your first home. However, it would be best if you were realistic in determining your home buying budget. There are online mortgage calculators that can help estimate your monthly mortgage payment. In addition, knowing your budget can help you weed through the many listings in the area to focus on what you can reasonably afford. 

Start Saving

Buying a new home usually requires a sizable down payment ranging from three to 20 percent of the total cost of the house. Therefore, the sooner you start saving for your down payment, the sooner you can start searching for your home and apply for a loan.

Raise Your Credit Score

Buying a home requires you to have decent credit. Most lenders prefer to grant loans to borrowers with credit scores of 680 or higher. However, the Federal Housing Administration does accept credit scores as low as 500 with a higher down payment. Check your credit report and dispute any errors and create a plan to pay down your debt. 

Are you excited about purchasing your first home in Albany, NY? We are here to help you with all your insurance needs. Call us today at NY Twin Bridges Insurance Agency for additional information on how to protect your new home.