First Time Buyers

Mortgage Basics

Owning a home is a big decision and getting off to a good start can make all the difference. This is where we come in. We will provide you with the information, tools, and resources, so you can determine your budget  and to be prepared to start shopping for your first home.

Are You Ready to Buy a Home?

Before you start shopping for your first home you may want to prepare a simple budget so you can see where your money is going on a monthly basis. It is not just the house mortgage and initial costs. There are other costs in owning a home like property taxes and hazard insurance. Moving is expensive as well so you will want to build up equity in your home before having to relocate. So you want to budget for exactly how much you can afford to spend.

Get Pre-approved Before You Go House Hunting?

Applying for a pre-approval is a good idea. In most cases it is good for 90 days. This will draw a line for you. It will set your maximum mortgage amount that you can manage before house hunting. It lets the seller know you are serious about buying a home which can give you preference when there are multiple offers.

Some Questions To Consider While Assessing Your First Home

  • How many bedrooms/bathrooms will you need?
  • Do you work at home? If yes, do you need extra space for a home office?
  • Do you have family members with special needs?
  • Do you plan to have children?
  • Do you have pets, or planning to have?
  • How much are the yearly property taxes?
  • How much are utilities each month?
  • Does the house use gas or electric for the furnace, water heater, and appliances?
  • How old are the major appliances and are they included with the purchase?

Which Mortgage is Right For You?

In choosing a mortgage you want to find a company that is looking out for your best interest. They should explain how your mortgage will work and answer all your questions. If you get evasive answers it usually means they do not want to tell you. It is helpful if they have competitive terms for the interest rate you want. You want to consider what the rate costs you, how much your mortgage insurance will be, and look for hidden fees. In a perfect world you could trust everyone but unfortunately you do not need to look far to find examples of predatory lenders who have taken advantage of borrowers. We have a dedicated team of mortgage specialists who are trained in identifying the best solutions for you. Our team of professionals will work with wholesale lenders to find you the best interest rate possible so you can comfortably afford your mortgage.

There are many mortgage programs available for First-Time buyers. We offer a stress free, simple, step-by-step process that helps you learn the entire process. Our team of qualified professionals will make sure your first time home buying experience is a pleasant one. With a full set of resources, tools, and mortgage options that fit your needs you can achieve your dream of home ownership quickly and affordably.