First-Time Home Buyers

Buying your first home is exciting, but it is also one of the major financial decisions you will ever make. You likely have a lot of questions, and that is exactly what we are here for.

Our goal is to pull back the curtain on the home-buying process so you can make informed, confident decisions.

Step 1: Know Your Credit Score

Your credit score (ranging from 300 to 850) is the biggest factor in determining your loan terms. The higher your score, the better your interest rate. If your score needs work, we will help you build a roadmap to improve it before you apply.

Step 2: Get Pre-Approved

A pre-qualification is just a rough estimate of what you might afford. A pre-approval is a tentative commitment from a lender based on verified income and credit history. Getting pre-approved tells you exactly what you can afford and shows sellers you are a serious buyer.

Step 3: Choose the Right Loan

We will break down the pros and cons of fixed-rate versus adjustable-rate mortgages, and help you compare popular first-time buyer programs:

• Fixed-Rate Mortgages: Your principal and interest stay the same for the life of the loan.
• FHA Loans: Government-insured loans that allow for down payments as low as 3.5% and have more forgiving credit requirements.
• VA Loans: Zero-down, no-PMI loans exclusively for eligible veterans and active-duty military.

Step 4: Build Your Team & Make an Offer

We highly recommend finding a trusted real estate agent before you start touring homes. Once you find “the one,” your agent will help you negotiate the best price. During this crucial window, do not make any large purchases or open new credit cards, as it can completely derail your loan approval.

Step 5: Closing Time

Once your loan passes through underwriting, you are at the finish line. We will be right beside you to explain the final paperwork so there are absolutely no surprises before the keys are in your hand.