7 Secrets for First Time Homebuyers


  • Secret #1: Get Your Finances in Order
If you haven't pulled your credit report recently, do that now. Clear up any innacuracies or fix issues that may be affecting your score. Lenders look for the 4 C's of Credit: credit history (timely bill paying), capital (money available for a down payment), capacity (income versus debt), and collateral (the value and condition of the house).

  • ecret #2: Get Some Guidance
Certified Housing Counselors are non-profit organizations that will offer unbiased advice regarding purchasing real estate- from explaining the big picture of owning property to which homes will suit you best.
  • Secret #3: Examine your Lifestyle
Owning a home is great, but it's not for everyone. Take some time to think about your lifestyle preferences, income level and location needs to determine if now is the right time for you to buy.
  • Secret #4: Look at Financial Assistance Programs
Some nonprofit organizations and government agencies can help you with down payment and/or closing costs through low-interest loans or grants.
  • Secret #5: What Else Do You Need?
Think about all the other elements that go along with purchasing your first home. Services such as plumbing and contractors to appliance purchases will impact your bottom line. Get referrals and shop around a little so you have things ready to go when you need them.
  • Secret #6: Get Pre-Approved
Meet with lenders (you can get referrals from your Real Estate Agent) to get Pre-Approved for a certain loan amount before you begin seriously looking at properties. This will make the process much easier and quicker.
  • Secret #7: Location is Everything
Do some homework on the areas you think you want to live. Look at school districts, property tax rates, insurance rates, crime rates and general statistics. Visit neighborhoods during the day and at night to get a feel for who lives there. The more you know what you want, the better job your agent can do for you.

It's important that you choose a Real Estate Agent who is experienced in working with First Time Homebuyers, so they will walk you through the process clearly and efficiently, and make sure that your first experience is a positive one. With a good agent and these 7 Secrets for First Time Homebuyers, you are well on your way to owning your first home.


CLIENT REVIEWS

Reviews on Zillow
1576443
"Mary Beth's work showed integrity and honesty. She fought hard on my behalf during the negotiation process. She knew the local area and also briefed ... more "
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by Ag_120179
1041872
"As a first-time home buyer, I was really not sure what to expect about the buying process, but Mary Beth Nunez made it easy.within a couple of weeks ... more "
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by coarhomemaster