Webinar: Stop Paying Someone Else’s Mortgage and Become a Homeowner in 2023 (Video)

Webinar: Stop Paying Someone Else’s Mortgage and Become a Homeowner in 2023 (Video)

For those who rent an apartment or home, buying a house of their own and becoming a homeowner may seem daunting. But with all the handy financial, legal, and real estate resources available, it doesn’t have to be. 

In a recent webinar titled “Stop Paying Someone Else’s Mortgage and Become a Homeowner in 2023,” several experts offered guidance for how to buy a first home.

The webinar featured panelists Claudia Alvarez, a licensed real estate agent at The Agency; Sydney Hahn, a mortgage loan officer at Cliff Mortgage; Vincent Campasano, an attorney at Campasano Law; and Katie Doig, director of business development at Safeguard Credit.

While prospective homeowners typically want to jump right into touring homes and visiting open houses, it’s important that they have a clear idea of what they want in a house and what they can afford, Doig says.

Doig recommended that first-time home buyers consult with a Housing and Urban Development (HUD) counselor to plan for the homebuying process. Those counselors can be found at Safeguard Credit or at hud.gov and are federally funded, so meeting with a counselor is completely free.

“We sit down with you and we say, ‘what can we do to get you [home-ready]?” Doig says. “We can help you with that, and it’s absolutely free. We do not discriminate. We assist people buying million-dollar homes, we assist first-time homebuyers. There’s no question too small, there’s no question too big.”

Hahn then spoke about how to apply for a mortgage loan. She noted that while getting a preapproval letter can be helpful, sitting down with a mortgage officer is even more beneficial to get your ducks in a row, so to speak. Alvarez agreed.

“Buyers get happy when they receive a pre-approval; however, your conversation with your loan officer is extremely important before we go out to look at houses,” Alvarez said. “You should be aware of what your down payment is, what your closing costs are, and what your monthly payments will be or the range [that is in your budget.]”

Once finances are in order, then it’s time for “the fun part” of finding a home, Alvarez says. This includes knowing which neighborhoods you’d want to live in, the non-negotiables you’d want in a home, and other factors.

Campasano spoke about the other details of agreements throughout the contract process in buying a home, including inspection, a final walk-through, and closing. 

This webinar was hosted by Schneps Media, the parent company of the Long Island Press. For more webinars, visit SchnepsMedia.com/webinars.