Are You A First-Time Homebuyer?


First-Time Homebuyer Video Resources

First-Time Home Buyer Advice
You can’t know everything there is to know about buying a home, especially when you’re a first-time homebuyer.
How much down payment do I need for a house?
Many first-time homebuyers believe they have to put 20 percent down on a home. But that’s far from true.
Why do people say you need 20% down?
Average down payments are well under 20 percent. So why do so many people say 20 percent down is the minimum.
How to choose a mortgage lender as a first time home buyer
One of the biggest mistakes first-time homebuyers make is not shopping around for a mortgage.
What credit score do you need to buy a house for the first time?
Most loan programs require a credit score of 620 or higher to buy a house for the first time. That includes conventional loans, most VA loans, and USDA loans (which require 640+).
What qualifies you as a first-time buyer?
If you’re buying your first-ever home, you’re a “first-time homebuyer” by default.
Do I need a home inspection?
Some loan types, like the FHA and VA mortgage programs, require a home inspection to make sure the home meets requirements for safety and affordability.
What are points? How do I know if I should buy them or not?
A point is simply 1 percent of the loan amount. If you choose to “buy your rate down,” or pay “discount points,” you will get a lower interest rate.
What is Private Mortgage Insurance (PMI)?
Private Mortgage Insurance (PMI) is an insurance policy that makes homeownership possible for homebuyers who don’t want to make a 20 percent down payment.
What are closing costs and how are they different than down payment?
Buyers plan a lot about their down payment, but this is just part of what money is required to close on your home. Find out the difference between closing costs, down payment and total cash to close.
8 Loan Options for Homebuyers
Let's talk about YOUR OPTIONS as a HOMEBUYER! We have been talking to several lenders lately about financial options home buyers have today. From zero down to significant rate reductions, there is something for everyone. We want to share with you the information on what is available.

If you have questions or are ready to begin the first-time home buying process, just complete the form below, and a member of our team will be in touch shortly!

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