First Time Home Buyer


Purchasing a home can be an intimidating process, but with the proper guidance, you can accomplish your goals. Luckily there are several outlets that you can go to help you. A local realtor/real estate agent or a loan officer is the best place to start.

Get Pre-Approved or Pre-Qualified

Go into the process with confidence. Get Pre-Qualified or Pre-Approved before you start looking at houses. Sellers do not entertain offers from buyers who do not show that they have the means to purchase.  Your loan officer will guide you through the loan process by informing you of the different ways to purchase a home, the different types of home loans and which is right for you.  The amount that you will be  Pre-qualified or Pre-Approved for, is based on your monthly income minus your monthly obligations such as monthly car payment, utility bills, food, student loans, other monthly payments obligations, and savings for downpayment and closing costs.

Work with a realtor to find your home

 Your realtor will work with you in finding a suitable home, prepare and present your offer to the seller. Once your offer is accepted by a seller, your realtor will work with your loan officer, escrow attorney,  homeowner inspector, appraiser and answer any questions you have throughout the process. Keep in mind that a realtor should work in your best interest. Avoid a realtor who is working in a Dual-Capacity (buying and selling agent and the same transaction or is an agent at a new construction homes site).

Realtor rules

Because of license rules, a home buyer can only work with one realtor at a time.  However, if you are working with a realtor that you are unsatisfied with, contact another realtor. Inform the original realtor that you no longer wish to have them as your realtor. Cancel any buyer’s agreement you have with them so that there is no conflict going forward.  

Don’t rush the process

Be thoughtful. Don’t make hasty decisions.  It takes a minimum of  3 to 5 years to recover the cost of purchasing the home. Where you purchase a home should depend on things such as job stability, your lifestyle, and whether or not you have school-age children. 
It is not wise to purchase a home that is too far from your workplace. Traveling to and from work might be too much of a challenge. 
Your lifestyle consists of what you do for entertainment and recreation. Are you someone who likes to go out for entertainment or go for a walk /run in the park? Are you an in-towner or suburban person?   Is the school district important to you if you have school-age children?
These are some of the questions that should be answered before you decide where to purchase a home.

The home search

Without making the search too difficult for you and your realtor.  Look at as many houses in your price range as possible until you find the one that will work best for you. Keep in mind that at some point you have to make a decision so before you start the search give some thoughts to what you can live with and what you can live without in a home. Don’t get advice from too many people. Having too many opinions will make it harder for you to make a decision.

To Verify Credentials of your Loan Officer’s and Real Estate Agent’s Follow the links below!




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