As a first time home buyer there are many things you should know about before starting your home search.
There are many financing options available to first time buyers. You need to determine you goals, is this a home you will out grow in 2-4 years, or are you planning a family, or are you planning to stay long term. The lowest interest rate, 30 year fixed rate, or the FHA loan may not be in your best interest. Some programs and options have a down payment assistance or low interest rates, but may have pre-payment penalties or high APR.
Let us help you find the best options for you.
Grants. There are grants available to some first time home buyers. Grants are money given as a gift to you to help with your purchase. Some grants are from your City, State, or Government, and some are available from other sources. We can help find out what is available to you.
We can email you a FREE first time home buyers packet "Home Ownership Made Simple". This packet has lots of advantages you should know about, home inspection checklist, how much can I afford worksheets, features of my dream home checklist, steps to buying a home, rent vs. buying, mortgage basics, types of mortgages, buying a new home, moving checklist, common mistakes to avoid, evaluating financing options, grant programs available, and information on special financing available and more. This Booklet is in an Adobe pdf file and can be read with Adobe Acrobat. Request A Free First Time Buyers Packet.
After you evaluate what programs are available and best for you. Then your Realtor can help you find the right mortgage lender that offers the best option for you.
Get Pre-Approved for the mortgage is the next step. This step helps you know what price of a home you can afford. Keep in mind you determine what monthly payment you feel comfortable with. The Lender will take all your information and your comfort level into account and give you a pre-approval letter that will specify what price of home you can buy.
Now you are ready for the exciting step to started looking for that right home. Make sure you have an agent that represents you and your best interest. They should be able to show you the best homes, in the area you desire, that meet with your price range, and your criteria. Finding a good home that is priced right will be a major milestone for you. This is one of the biggest investment you will make, be informed, be ready, and be careful when making your decision.
If you plan to have your parents, or someone else help you with your choice and evaluate the homes, please have them come to all the homes you see. If they only see the one you picked they will find fault with it. If they go with you and see the other homes, their asking price, features, pluses and minuses they will understand why you choose the one you did. Sometimes it has been a while since they have been shopping for homes, and they may not have a good feel for current prices, demand and supply.
When you find the home you want be prepared to act. Some of the best homes sell fast and at the price the seller are asking. Having a good Real Estate agent evaluating homes with you can help you determine what to offer for the home. Make an offer with the right financing options, seller paid fees if desired, and with a home inspection period written in.
The home inspection period will give you some time after the offer is accepted to have the home professionaly inspected. As a first time buyer this inspection is important to protect you as the buyer. Make sure the professional company you choose is certified and has the background and qualifications. Your Realtor should be able to help you determine the best inspection companies. Make sure the company supplies a written report. This report will help understand what condition the home is in, and how to best maintain your home and the materials use in its construction.
After acceptance there are many things to do, the inspections, the home appraisal, getting insurance, closing the loan with your lender, transferring utilites, and many more. Get a list from your Realtor.
When you feel you are ready to get started you can email us at the link below. We have the knowledge of first time buyer programs, the home market and can help you evaluate and choose the best home and financing to meet your goals.
We will help find the right home for you, and we will show you the best homes on the market in your price range and areas.
Your satisfaction is our goal, we realize it is a big investment, and we want and need your repeat business and your referrals to your friends and family.
