So You Want To Buy Your First Home?
You’ve Come To The Right Place
First Time Homebuyers
First Time Homebuyers Have a lot to think about. Usually the best place to start is the math.
Three Pillars To Consider
- What will a lender allow you to qualify and get preapproved to buy?
- Can you get a mortgage preapproval for that home you found that you love?
- And most importantly, what do you want your target housing expense to be?
Lenders Consider Your Three C’s:
- Your Credit – your scores and overall credit history
- Your Collateral – what you’re borrowing vs. what the house is worth
- Your Capacity to Repay – your income and your assets
Our Mortgage Experts Help You Assess Your Best Options
Steps To Your First Home:
- Get a mortgage preapproval. You want to understand the math behind your rate and fee options, your total monthly housing expense, and your total cash to close.
- Start shopping for a home that meets your needs and budget.
- Make an offer on a home you like. Our mortgage preapproval letters are specific to your offer/s, so you’re not showing your cards to the seller.
- Get into contract.
- Close your home purchase. We can usually close your loan in two or three weeks, if speed is important to the seller.
- Enjoy your new home!
First Time Homebuyer Benefits:
- Loan Level Pricing Adjustment Waivers – if you fit within the Area Median Income thresholds, you may be eligible to waive pricing adjustments, making your financing choices more affordable.
- Down Payment Assistance – we have access to numerous DPA’s. Whether government sponsored, employer sponsored, or lender sponsored.
- Closing Cost Assistance – many of our down payment assistance programs can be used to help cover closing costs, too.
Your Roadmap To Homeownership
We can get you qualified and preapproved in about a ten minute conversation (or you can complete our online mortgage preapproval application, that we’ll follow with a phone call). Some things you’ll want to have ready (or at least know what they say) include:
- Your most recent month’s pay stubs
- Your most recent W2s
- Your most recent taxes (if you’re self employed or have passive income)
- Your most recent asset statements (bank, investment, retirement, etc.)
But, sometimes you’ll find that you won’t qualify for what you’d hoped.
- Maybe you need to boost your credit?
- Maybe you need to save more for your down payment and closing costs?
- Maybe you need a little more income to get into the home that best fits your needs?
Whatever the reason may be, we’re with you, every step of the way. And, we often have solutions you may not have considered, to get where you want to be, too. Either way, you will have a clear roadmap to achieve your goal of buying your first home.
We Respect Your Privacy
Don’t worry. You won’t get bombarded by telemarketers. We’re not like lendingtree or bankrate that are lead generating funnels who sell your information to mortgage companies. Nor are we a fully electronic, nameless, faceless app, that serves up information without helpful insight. We’re real people, at your service to help you evaluate your spectrum of options, and make the best decisions to suit your needs.