Some of the Biggest Home Buying Mistakes to Avoid via @homebidz

Some of the Biggest Home Buying Mistakes to Avoid

Purchasing your home is a huge deal, but each and every circumstance is different. There are probably well over a hundred mistakes you can easily make while going through the Home Buying Process, but none are more foolproof than these: Lying and lack of understanding.

Don't Let the Lender Catch You With Your Pants on Fire!

It should go without saying that lying on your home loan applications or on documents for the bank is one of the easiest ways to be shut down. Not only can you face legal charges, but it can irrevocably hurt your chances of qualifying. Additionally, lying to yourself, and accepting a loan that you know you can’t pay back is equally as bad.

This is the Worst Thing About of Being Dishonest

Taking on too much of a financial burden will almost always end badly. The frustrating part of this mistake is that it can be easily avoided and the only one to blame is yourself. The best way to avoid this is to have a clear understanding of what you can afford to borrow. Know your budget, find out your credit score, when applying for a mortgage ask your lender to show you an estimated amortization schedule of your #loan.

Research the Home Buying Process and Your Situation

No one should be signing legally binding documents without first and foremost understanding what they’re agreeing to. Remember, banks are businesses (and not always ethical ones) so you have to advocate for yourself. If you don’t understand what certain terms mean or a fee schedule is found confusing, it is up to you to seek clarification, either by asking your lender or by doing your own research.


Buying a home can be a very emotional process. Instead of getting caught up in everything that can go wrong, or being swept away by the whirlwind of finding your dream home, take a minute to adjust to the process. Mistakes in the home buying process can be costly, but -- as we have mentioned before -- these common mistakes can often be shuffled into to distinct categories; lying and lack of understanding. Ask yourself throughout the process: Am I being truthful (whether intentional or not) about my financial situation and my needs? Do I understand all the facets of what I am about to agree too?

Latest Posts

The Art of Changing Realtors When You Need to via @homebidz

The Art of Changing Realtors When You Need to

First Time Home Buyers Click Here Finding a realtor can be kind of like dating. There are a ton of them, each with their own set of pros and cons, different areas of expertise, etc. So, when you start forming a...
Loans, Fees, and the Real Cost of Owning Your Home via @homebidz

Loans, Fees, and the Real Cost of Owning Your Home

Need a Home Loan? We know this may come as a shock, but that home that’s for sale for $350,000 will actually end up costing about $575,000 over time. How? Between the interest rates, insurance, property tax, and...
Rent to Own vs. Traditional Mortgages via @homebidz

Rent to Own vs. Traditional Mortgages

Need an FHA Loan? It’s no secret that most people seek out rent-to-own home options over traditional mortgages because of credit issues: either their credit is fair or poor or simply just unestablished. Depending...
Why Does My Credit Matter? via @homebidz

Why Does My Credit Matter?

Click Here to Look at Bad Credit Home Loans Honestly, if you have less than perfect credit, you can still potentially buy under a rent to own option, but you still have to get financing at some point, so you'll need to...
Taking the First Step on Your Rent to Own Journey via @homebidz

Taking the First Step on Your Rent to Own Journey

Looking for Rent to Own? When considering a rent to own journey, there certainly are a couple different choices. Each requires the rental property itself, two authorized documents, and then -- sometimes -- an...
Simple Ways to Save for Your Down Payment via @homebidz

Simple Ways to Save for Your Down Payment

Need Family Support? There are a lot of different ways to purchase a home. You can get creative and try owner-financing, or even buying a home at an auction. For the majority of us though, we’re still using banks and...