1st Time Home Buyer

As a REALTOR my job is to not only educate you but to make the buying process as easy as possible. Over the years we have helped hundreds of buyers and have listed below many of the questions and concerns they had. So whether you are a 1st time buyer or an experienced buyer this information is for you.

Once you have read thru the information below, I recommend sitting down with me for a buyer consultation. This service is FREE and takes about an hour. Whether you are buying now or in the near future I make sure you will walk away with a much better understanding of what you need to know about the home buying process.

Heres a few questions and the answers that  may help you through the process:

  • How much money will I need?
  • Do I pay the Realtor?
  • Should I get pre-approved for a mortgage?
  • How much can I afford? 
  • Is spring the best time to buy?
  • Should I use One Realtor?
  • Do I need good credit?
  • Renting vs Owning?

    • Are there special programs for 1st time buyer?
    Yes    , there are several programs available for 1st time buyers -     FHA , Nehemiah Program ,  Neighborhood Gold and  Ameridream just to name a few.  However,  many items play a part in determining which program is best for you. You can contact our mortgage specialist  for details on these programs.

    How much money will I need?
         This depends on the type of financing  program but you'll need to cover:
    1.)     down payment 
    2.) closing costs 
    3.) prepaids and escrows - these include taxes & insurance. We can help you determine these amounts during the consultation .     

    Do I pay the Realtor?
    No, our service is Free to you, the seller pays our fee.


    Should I get pre-approved for a mortgage?
    Yes, you can contact me and I will connect you with a 1st time Buyer mortgage specialist. They will meet with you and explain the various programs available.

    How much can I afford? 
    Lenders look at     six factors The price you can afford to pay for a home will depend on six factors: (1. gross income, 2. the amount of cash you have available for the down payment, closing costs and cash reserves required by the lender, 3. your outstanding debts, 4. your credit history, 5. the type of mortgage you select and 6. current interest rates) and your  debt-to-income ratio. To calculate yourself click here .

    Is spring the best time to buy?
    Spring is usually a busier time because people want to get moved before the school year starts, its not actually the best time to buy. Houses sell ALL through the year. The     best time to buy     is when you are ready.

    Should I use One Realtor?
    Yes, otherwise you will see the same homes over and over. Real Estate agents belong to the     MLS (multiple listing service) which gives them access to ALL homes currently on the open market, regardless of who has it listed. You should hire one agent to represent you and Only look at homes with that one agent.

    Do I need good credit?
    Mortgage companies use your     FICO score to determine what type of program you qualify for. Some programs allow lower FICO scores and some simply just raise the interest rate.

    Renting vs Owning!
    If you own a home you will save a significant amount of taxes. How do you choose between the two ? Calculate the comparison yourself.