After closing on your mortgage, follow this checklist to prepare for moving into your new home. Change your address with the Post Office and update utilities. Review your inspection report for necessary repairs and create a maintenance schedule. Deep clean your new home, including less obvious areas. Change locks and reset security codes for safety. Review any home warranty received and consider purchasing one if not. Prepare emergency supplies and consider a fireproof safe for important documents. Lastly, file for a Homestead Exemption to save on property taxes.
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Buying your first house can be both exciting and overwhelming. Resources are available to empower you with the knowledge needed for homeownership. You can save up to $1,250, and if you find lower costs elsewhere, there are incentives. Local experts are available to answer questions and help you make informed decisions. Additionally, ITIN is accepted for mortgage lending applications.
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In 2025, the housing market shows slow stabilization with mortgage rates declining from near 7%, boosting buyer interest. Home sales remain sluggish but may rise 6% by year-end, while prices continue modest growth due to limited supply. Inventory has increased, offering buyers more options and negotiating power. Regional variations persist, with stronger markets in the Northeast and Midwest. Affordability and economic stability remain key factors shaping the market's outlook.
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First-time homebuyers should follow eight essential steps: assess debt and ensure a manageable debt-to-income ratio, check and correct credit score errors, review budget for additional costs, determine down payment, get preapproved for a mortgage, identify desired home type, research neighborhoods, and compare mortgage rates. This preparation will help in confidently searching for a new home.
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