Buying a House in Philadelphia – Tips For First-Time Buyers

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Whether you’re looking to house buyers philadelphia a new home or sell a distressed one, you’ll want to take some time to explore the local real estate market in Philadelphia. You can also take advantage of the federal homebuying assistant programs to help you get into the home of your dreams.

One of the most important steps you can take to ensure your success is to pre-qualify for a mortgage. Ideally, your debt-to-income ratio should be lower than 36%. In addition, you’ll want to include about 28% of your income toward your interest, taxes, and principal.

The real estate market in Philadelphia has been changing, though prices remain affordable. There’s been a lot of news recently about rate increases, and monthly payments are increasing. However, rates are still below historical highs.

WHAT TO EXPECT AT THE CLOSING TABLE WHEN YOU SELL YOUR HOME

If you’re looking to buy a house in Philadelphia, you can use a buyer’s agent to help you get the best deal. They can answer your questions, explain the home buying process, and make it seamless.

Aside from a buyer’s agent, you’ll also want to consider the help of a title agent. This is a person who will be present at the closing to ensure that all of the details of the sale have been taken care of.

Homebuying in Philadelphia can be a daunting task, especially for first-time buyers. Although the city has a variety of programs to assist with down payments and closing costs, you may find yourself with limited funds to invest.

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