First Time Home Buyer
Be prepared, to have fun!
As a first-time home buyer, there are several key factors to consider. You'll be better prepared for your home-buying journey by addressing these points.
Be prepared
New to the journey?
Start by checking your credit score, which impacts your mortgage options and interest rates. Connect with an agent to be referred to their trusted lender to assist you in further details.
Choose a mortgage lender by comparing rates, fees, and customer reviews. Understand what private mortgage insurance (PMI) is—it’s required if your down payment is less than 20%, protecting the lender if you default.
Determine how much down payment you need, a reliable lender will assist you in navigating what will work best for your situation. To qualify as a first time home buyer, you must not have owned a home in the past three years.
Frequently asked questions
As a first-time home buyer
First Time Home Buyer Advice
For first-time homebuyers, it’s essential to start by reaching out to a local lender or your preferred lender to get pre-approved for a mortgage and understand your budget. Research neighborhoods that suit your lifestyle, attend open houses to explore potential properties, and take your time to learn about the buying process, including inspections and closing costs. Additionally, seek guidance from a trusted realtor to help you through each step.
Should I Get Pre-Qualified
Real Estate Agents and Lenders recommend that home buyers get pre-
qualified before selecting a home to purchase. This way you will be prepared to preview and negotiate your home purchase with confidence.
How will you tell me about the newest homes available?
The Multiple Listing Service (MLS) website provides up-to-date
information for every home on the market. I constantly check the “New
on the Market” list so I can be on the lookout for my clients. I will get
you this information right away, the way that is most convenient for you:
phone and/or email.
Can we go back through our property again once an offer is made,but before possession?
Usually, we can notify the seller and schedule a convenient time to visit
the property again. Immediately before the closing, we will schedule a
final walk-through and inspection of your new home. Inspection period
and terms should be defined in the offer.
Once my offer is accepted, what should I do?
Celebrate and focus on moving into your new home! You will want to
schedule your move, pack items and notify businesses of your address
change. I will provide you with a moving checklist to help you remember
details. I will also give you a good faith estimate and HUD statement,
which will indicate the amount you will need to bring to closing.
Why should I buy, instead of rent?
Owning a home is a smart investment. Unlike renting, you can deduct mortgage interest and property taxes from your income taxes, saving you money. Your home’s value might increase over time, and you’ll have a space that truly reflects your personal style.
How to Improve Your Credit
If you’re ready to buy a home but need to improve your credit, reach out to a local lender or contact one of our agents for recommendations. These loan officers can help answer all your questions and develop a plan to enhance your credit.