First-time Homebuyer

First time homebuyers

Buying your first home can seem like a challenging task, we are here to walk you through the process and help you become a homeowner. Before starting your home search it is important to consider the following steps.

Pre-Qualification vs Pre Approval

A pre-qualification is just an estimate of how much house you can afford and how much money you can borrow. A pre-approval is your credit, income and assets have been reviewed by your loan officer and you have a tentative commitment of what you can afford and terms of your loan. You will need a preapproval in order to submit offers on a home.

What can I afford?

The pre-approval process will determine what you can afford with calculating your income and out going debt.

What loan program is best for me?

There are more than one loan programs for the first time homebuyers with no down payment and low down payments, sit down with your loan officer and discuss the different options you will have and what will work best for you.

Finding a home

After deciding which loan program is best for you and you have your pre approval it is time to start your home search. If you do not have a Real Estate professional helping you ask one of our buying specialist for a list of preferred agents.

Know Your Buying Power