Hi there, friends. After lengthy consideration as to what to designate my first blog post to, I decided to go with a little First Time Buyers FAQ.
Never bought a home before? You are not alone.
Can I start out by saying that a buyer’s agent is traditionally FREE to the client? This is a little tidbit of information that many people I converse with are shocked to discover. But nonetheless, a real estate agent’s work on your behalf is payed for by the seller’s.
“So, what’s the first step???”
The home buying process can seem daunting, but it is definitely an experience that doesn’t have to be. By taking that first step and talking to a lender you can get a better idea of where you stand financially. Also, did I mention this step is free, too? Yep, that’s right. A good lender will give you all the information you need to get started. And if they say that you’re not ready to buy, I promise it won’t be the end of the world. In this case they will give you some helpful tips to get your credit where it needs to be and get you back on track money-wise (so that you can buy one day- soon!). We are all on your team here and want to help you reach your goals.
And wondering where to even find a lender? As real estate agents we work closely with lenders to be able to complete transactions. We definitely can point you in the right direction and introduce you to some incredibly helpful individuals. Also, don’t be afraid to do your own research. Ask friends who have recently purchased about their experience with their lender. See if you can get a good referral or let us help you find someone.
What’s Down Payment Assistance and do I qualify?
Down Payment Assistance exists to assist individuals like you in need of help with that initial down payment on their home. Each program offered is unique in its own way, but they are essentially designed to assist you in buying your home with free money. Some individuals who qualify for Down Payment Assistance are veterans, teachers, and physicians.
Even if you don’t meet any of that criteria, you still have a chance to qualify. Depending on how much you make per year and what area you are looking to purchase in, this may be available to you, too.
There are numerous Down Payment Assistance programs out (and these will not last forever). There is no knowing when the funds for these programs will run out, so definitely try to take advantage of them while you can. These programs are constantly changing so don’t be afraid to contact us if you have any questions as to what is currently available for you.
Still have questions? Pick up the phone and call me. I am always here for any questions you might have!