Kevin Seawright is using his expertise to help first-time home buyers. Seawright is the Executive Vice President & Chief Financial Officer of the City of Newark Economic Development Corporation. He’s also the founder of RPS Solutions LLC. It’s safe to say that Seawright knows a thing or two about homeownership. Becoming a homebuyer can be an exciting time but there’s also a lot to consider. Seawright knows the potential pitfalls that some new home buyers can run into. Let’s take a look at some of his tips. Follow him on Instagram for more updates.
Real Estate Agent
Kevin Seawright stresses the importance of picking the right real estate agent for you. Kevin Seawright says that all too often people get it wrong when it comes to finding a real estate agent. If you know someone personally who is starting off their real estate career and wants to help, it may be tempting to assist. The problem is, this may be the first and only time you buy a home. You ought to be looking for someone experienced.
Here’s another important aspect that shouldn’t be overlooked. Finding the right warranty package should also be a priority. The warranty will help you cover the cost of any unforeseen issues that occur with your new home. This includes repairs to the home.
Of course, buying a new home means your credit score will have to be up to snuff. When it comes to mortgage lending, your options will be limited if you have a low credit score. Before applying for loans, make sure that your credit score is high. If it isn’t, it would be wise to build it up before going into homeownership. While there are some mortgage options for low credit, you’d be paying high-interest rates. The ratio for debt-to-income will also play a factor, but your credit score is the biggest difference-maker.
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