🛑 Top 7 Mistakes First-Time Homebuyers Make 🏡 (And How to Avoid Them!)

❌ Don’t Do This! 7 First-Time Buyer Mistakes That Could Cost You 💸

Buying your first home should be exciting—not stressful. Yet for many first-time buyers, the process is full of avoidable mistakes that lead to delays, lost deals, and even financial headaches. At Medallion Mortgage, we help first-time buyers in Houston, Katy, Fulshear, and across Texas avoid the landmines and make smart moves from pre-approval to closing.

Let’s walk through the Top 7 mistakes first-time buyers make—and how to avoid them.

1️⃣ Not Getting Pre-Approved Early

Jumping into house hunting without a pre-approval is like shopping without a budget. Sellers won’t take your offer seriously—and you might fall in love with a home you can’t afford.
✅ Tip: Get pre-approved with a broker who can shop multiple lenders for the best deal.

2️⃣ Forgetting About Closing Costs

Many buyers save for the down payment but forget that closing costs can run 2–5% of the purchase price.
✅ Tip: We provide a full cost breakdown early, so you're never surprised.

3️⃣ Making Big Financial Changes Before Closing

New job? New credit card? Car purchase? These can all derail your mortgage.
✅ Tip: Keep your finances steady and check with your loan officer before making changes.

4️⃣ Choosing the Wrong Loan Type

FHA, VA, conventional, jumbo, non-QM—each has pros and cons depending on your income, credit, and goals.
✅ Tip: A mortgage broker helps you match with the right loan—not just the easiest one.

5️⃣ Maxing Out Your Budget

Just because you're approved for $400K doesn’t mean you should spend it all. Monthly payments, maintenance, and future goals matter.
✅ Tip: Budget smart to avoid buyer’s remorse.

6️⃣ Skipping the Home Inspection

In a competitive market, some buyers skip inspections to win the deal—but that could cost you thousands in repairs later.
✅ Tip: Always get a professional home inspection before closing.

7️⃣ Not Using a Mortgage Broker

Many first-time buyers think they need to go directly to their bank. But banks only offer their products.
✅ Tip: A mortgage broker (like us!) gives you access to better rates, more options, and faster closings.

💬 Final Word

Your first home should feel like a win—not a warning sign. By avoiding these 7 mistakes, you'll set yourself up for a smoother, smarter homebuying experience. And when you're ready—we’re here to guide you every step of the way.

📞 Schedule a free consult today: https://billrapponline.com/

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