{"id":12185,"date":"2010-06-04T17:12:22","date_gmt":"2010-06-04T17:12:22","guid":{"rendered":"https:\/\/staging.iconitrax.com\/RonQuilario\/blog\/index.php\/2010\/06\/04\/five-mistakes-you-shouldnt-make-as-a-first-time-homebuyer\/"},"modified":"2025-04-15T18:30:01","modified_gmt":"2025-04-16T01:30:01","slug":"five-mistakes-you-shouldnt-make-as-a-first-time-homebuyer","status":"publish","type":"post","link":"https:\/\/www.crestico.com\/blog\/five-mistakes-you-shouldnt-make-as-a-first-time-homebuyer\/","title":{"rendered":"Five Mistakes You Shouldn\u2019t Make As a First Time Homebuyer"},"content":{"rendered":"
Buying a first home can be a daunting experience. Here are five common and costly mistakes that novice home buyers make:<\/p>\n

1. Ignoring the costs of having a low credit score.<\/span><\/strong> Lower-score borrowers pay thousands of dollars in increased Interest Rates<\/a> over the life of the loan.<\/span>
\n2. Muddying the waters by shopping for other things before closing.<\/span><\/strong> Lenders continue to check credit<\/a> scores right up until the time of closing<\/a>. Too much shopping<\/a> could cause the lender to take back the loan.<\/span>
\n3. Scrimping on an inspection.<\/span><\/strong> Being surprised by the need for expensive repairs can be financially devastating.<\/span>
\n4. Buying without contingencies.<\/span><\/strong> Buyers should give themselves an out if the inspection turns up problems or the bank raises the interest rates.<\/span>
\n5. No money for insurance.<\/span><\/strong> Insurance can be surprisingly pricey. Buyers who don’t budget for it can face a nasty surprise.<\/span><\/p>\n

Source: CNNMoney.com, Les Christie (04\/19\/2010)<\/span><\/em><\/div>\n

<\/em>\u00a0<\/p>\n

Mitra Karimi<\/div>\n
mitra.karimi@crestico.com<\/a><\/div>\n
http:\/\/www.crestico.com<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Buying a first home can be a daunting experience. Here are five common and costly mistakes that novice home buyers make: 1. Ignoring the costs of having a low credit score. Lower-score borrowers pay thousands of dollars in increased Interest Rates over the life of the loan. 2. Muddying the waters by shopping for other […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1],"tags":[131,156,157,158,38,159,72,95,160],"class_list":["post-12185","post","type-post","status-publish","format-standard","hentry","category-crestico","tag-buyers","tag-closing","tag-costs","tag-credit","tag-insurance","tag-interest-rates","tag-loan","tag-money","tag-shopping"],"_links":{"self":[{"href":"https:\/\/www.crestico.com\/blog\/wp-json\/wp\/v2\/posts\/12185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.crestico.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.crestico.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.crestico.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.crestico.com\/blog\/wp-json\/wp\/v2\/comments?post=12185"}],"version-history":[{"count":0,"href":"https:\/\/www.crestico.com\/blog\/wp-json\/wp\/v2\/posts\/12185\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.crestico.com\/blog\/wp-json\/wp\/v2\/media?parent=12185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.crestico.com\/blog\/wp-json\/wp\/v2\/categories?post=12185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.crestico.com\/blog\/wp-json\/wp\/v2\/tags?post=12185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}