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First-Time Homebuyer Checklist

Cape Cod First-Time HomebuyersFirst-Time Cape Cod Homebuyer Checklist

Buying a home versus renting in Cape Cod is a big decision that takes careful consideration. Getting a new mortgage for a First-Time Cape Cod Home Buyer can be a little overwhelming with all of the important details, guidelines and potential speed bumps.

Since there are so many rules and steps to follow, we’ve put together a simple list of Do’s and Don’ts to keep in mind throughout the mortgage approval and closing process.

The Do’s and Don’ts

Since there are so many rules and steps to follow, here is a simple list of Do’s and Don’ts to keep in mind throughout the Cape Cod mortgage approval process:


  • Continue working at your current job
  • Stay current on all your accounts
  • Keep making your house or rent payments
  • Keep your insurance payments current
  • Continue to maintain your credit as usual

Call us if you have any questions.


  • Make any major purchases (Car, Boat, Jet Ski, Home Theater…)
  • Apply for new credit
  • Open new credit cards
  • Transfer any balances from one credit or bank acct to another
  • Pay off any charge-off accts or collections
  • Take out furniture loans
  • Close any credit cards
  • Max out your credit cards
  • Consolidate credit debt

Basically, while you are in the process of getting a new Cape Cod mortgage, keep your financial status as stable as possible until the loan is funded and recorded.

Any number of minor changes could easily raise a red flag or cause a negative impact on a credit score that may result in a denied loan.

Most importantly, check with your loan officer on even the simplest questions to make sure your loan approval is successful.

Frequently Asked Questions

  • Q

    What Is The Difference Between A “Buyer’s” and “Seller’s” Market?

    Simple economics is the rule of thumb here.

    Everyone wants to “buy low and sell high,” but the truth of the matter is there is no way that can happen for everyone, every time.

    Seller’s Market = More buyers than sellers

    Buyers Market = More sellers than buyers

  • Q

    Do I Need A Home Inspection?

    Some mortgage programs require a borrower to get a home inspection if it is mentioned in the purchase contract.

    Either way, there are several reasons why it is important for a home buyer to have a licensed professional take a closer look at a property before the transaction is finalized.

  • Q

    Does it matter if I buy a home that is part of a Home Owner’s Association?

    A Home Owner Association may have the power to determine the color of your home, the number of pets you have and the type of grass you have to plant.

    They also may have the power to levy assessments, dues and fines.

    Or, they may be as simple as collecting a few dollars per year to make sure the grass is cut in the common areas.

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