First Time Home Buyers
Being a first time home buyer can be both exciting and scary at times. The move from being a renter to becoming a home owner is a great transition for most people. However, for those who aren’t properly prepared, the home purchase process can quickly become overwhelming.
For this reason, we take just a little extra time with our first time home buyers to provide them with both the best mortgage options available as well as the necessary education on successfully purchasing their first home.
With that said, you may already have some questions regarding buying your first home. Here’s a few common questions that we get;
Why should I buy instead of rent?
Buying your first home has many benefits. For starters, you’re not just buying your own home, you’re making a sound investment into your future. It has the potential to increase in value (appreciate) over time and in most cases, you’re able to deduct the mortgage interest and property taxes from either your federal or state income taxes, or both.
Aside from the investment component of home ownership, you’re assuring that the housing payment you make on a monthly basis is benefiting you rather than your landlord.
Do you recommend that I use a real estate agent?
Not if they’re don’t know what they’re doing. With the recent changes in the market, there have been as nearly as many new real estate agents coming into the business than leaving, but their lack of experience can affect the purchase of your first home.
However, we have preferred real estate agents that we work with who have not only made it through this rough market, but are thriving in it since they have knowledge, experience, and a commitment to their buyers. Remember, at the end of the day, you do not pay them a dime out of pocket since its their compensation comes from the seller’s proceeds.
Can I still purchase my first home even with damaged credit or a limited down payment?
Absolutely. There are many mortgage options and programs available to help through these tough times.
However, the better question to ask is “When is the right time to buy my first home if I have damaged credit or a limited down payment?” This is an important question because although there may be options available to you, you may pay higher interest rates or closing costs with these limitation.
That’s why its important to work with mortgage professionals who will review your situation and advise you based on your overall financial goals, not just “get a loan done”.
There may be other questions or concerns you have about buying your first home. If that’s the case, we have to solutions for you.
- Call our office and schedule your free mortgage consultation where we’ll educate you on the home buying process and tell you both what you qualify for and what you can afford. You can also click on schedule my free mortgage consultation to schedule directly on this website.
- Gain access to our special report called “First Time Home Buyer Handbook” for free by clicking on the link.
We hope this information has been helpful. Don’t hesitate to contact us to answer your most pressing questions pertaining to buying your first home.
>> CLICK “FIRST TIME HOME BUYER HANDBOOK” TO INSTANTLY DOWNLOAD THIS POWERFUL REPORT ABSOLUTELY FREE! <<
